25 Fore Street Redruth Cornwall TR15 2BQ

25 Fore Street
Redruth
Cornwall
TR15 2BQ

Freehold Supermarket Investment

Let to Iceland Foods Limited until February 2030 (no breaks)
2025 tenant break option removed
5 yearly fixed rental increases at 2.5% per annum compounded
Approximately 12,560 sq ft
Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
37
Auction
7th July 2016
Rent
£82,310 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Freehold Supermarket Investment

Let to Iceland Foods Limited until February 2030 (no breaks)
2025 tenant break option removed
5 yearly fixed rental increases at 2.5% per annum compounded
Approximately 12,560 sq ft
Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 37
Auction 7th July 2016
Rent £82,310 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 9 miles west of Truro, 17 miles north-east of Penzance
Roads: A30, A39, A394
Rail: Redruth Railway Station
Air: Newquay Airport

Situation

The property is prominently positioned on the northern side of Fore Street, close to its junction with Alma Place, in the heart of the town centre. Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks.

Tenure

Freehold.

Location

Miles: 9 miles west of Truro, 17 miles north-east of Penzance
Roads: A30, A39, A394
Rail: Redruth Railway Station
Air: Newquay Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with ancillary accommodation on the lower ground, first and second floors. The property benefits from a secondary entrance to the rear of the store that opens onto the customer car parking area with parking for about 45 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Fixed Rental Uplifts/(Reversion)
Ground Lower Ground First Second	Supermarket/Ancillary Ancillary Ancillary Ancillary	593.63 sq m 15.28 sq m 516.62 sq m 41.33 sq m	(6,390 sq ft) (164 sq ft) (5,561 sq ft) (445 sq ft)	ICELAND FOODS LIMITED (1)	25 years from 28/02/2005 on a full repairing and insuring lease	£82,310 rising to £93,126 in Feb 2020 and to £105,364 in Feb 2025	28/02/2020 28/02/2025 (27/02/2030)
Totals		1,166.82 sq m	(12,560 sq ft)			£82,310

(1) For the year ending 27th March 2015, Iceland Foods Limited reported a turnover of £2,682,021,000, pre-tax profits of £58,794,000 and a total net worth of £709,630,000. (Source: Experian Group 25/05/2016).