42 - 44 Union Street Torquay Devon TQ2 5PW

42 - 44 Union Street
Torquay
Devon
TQ2 5PW

Prime Freehold Retail Investment

Entirely let to River Island Clothing Co Limited by way of a lease renewal
Rent rebased from £100,000 p.a.x
Excellent trading location on pedestrianised part of Torquay’s prime retail thoroughfare
Tenant in occupation since at least 2009
Nearby occupiers include Primark, New Look, Costa, Boots the Chemist, Holland & Barrett and H&M
Well configured retail unit with sales accommodation on ground and first floors
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
52
Auction
23rd March 2016
Rent
£72,500 per Annum Exclusive
Status
Sold
Price
£750,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Insolvency Practitioners Deloitte

Interested?

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Prime Freehold Retail Investment

Entirely let to River Island Clothing Co Limited by way of a lease renewal
Rent rebased from £100,000 p.a.x
Excellent trading location on pedestrianised part of Torquay’s prime retail thoroughfare
Tenant in occupation since at least 2009
Nearby occupiers include Primark, New Look, Costa, Boots the Chemist, Holland & Barrett and H&M
Well configured retail unit with sales accommodation on ground and first floors
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 52
Auction 23rd March 2016
Rent £72,500 per Annum Exclusive
Status Sold
Price £750,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Insolvency Practitioners Deloitte

Property Information

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A380, A38, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

The property is prominently situated in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby occupiers include Primark, New Look, Costa, Boots the Chemist and H&M.

Tenure

Freehold.

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A380, A38, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

Tenure

Freehold.

Description

The property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.

Six Week Completion

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground Basement First Second	Retail Ancillary Retail/Ancillary Ancillary	257.00 sq m 30.00 sq m 283.00 sq m 13.00 sq m	(2,766 sq ft) (323 sq ft) (3,046 sq ft) (140 sq ft)	RIVER ISLAND CLOTHING CO LIMITED (1)	5 years from 12/10/2015 (2) on a full repairing and insuring lease	£72,500	11/10/2020
Totals		583.00 sq m	(6,275 sq ft)			£72,500

(1) With over 60 years of fashion retailing experience, River Island is one of the most well known brands on the High Street, with over 350 stores across the UK, Ireland and internationally throughout Asia, the Middle East and Europe. (www.riverisland.com) For the year ending 27th December 2014, River Island Clothing Co Limited reported a turnover of £890,400,000, pre-tax profits of £145,800,000 and a total net worth of £279,600,000. (Source: Experian Group 23/02/2016)
(2) The lease is subject to a tenant option to determine on 12th October 2018.