66 / 70 Union Street Torquay Devon TQ2 5PS

66 / 70 Union Street
Torquay
Devon
TQ2 5PS

Freehold Retail Investment

Let to Boots UK Limited
Rent re-based in 2015 from £220,000 p.a.x
Tenant in occupation since at least 1990
Directly Opposite the Union Square Shopping Centre on Torquay’s prime retail thoroughfare
Nearby occupiers include Primark, New Look, Costa Coffee, River Island, Holland & Barrett and McDonald’s
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
43
Auction
30th March 2017
Rent
£145,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Let to Boots UK Limited
Rent re-based in 2015 from £220,000 p.a.x
Tenant in occupation since at least 1990
Directly Opposite the Union Square Shopping Centre on Torquay’s prime retail thoroughfare
Nearby occupiers include Primark, New Look, Costa Coffee, River Island, Holland & Barrett and McDonald’s
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 43
Auction 30th March 2017
Rent £145,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south-west 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 south side of Union Street, Torquay’s prime retailing thoroughfare. The property is located opposite the Union Square Shopping Centre,with nearby occupiers including Primark, New Look, Costa Coffee, River Island, Holland & Barrett and McDonald’s.

Tenure

Freehold.

Location

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

Situation

Tenure

Freehold.

Description

The property comprises a substantial ground floor retail unit with ancillary accommodation in the basement and on the first floor. The property benefits from a recent programme by the tenant to renew the air conditioning and some refurbishment of the retail area. The property further benefits from rear access via Lower Union Lane.

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	Reversion
Ground Basement First	Retail Ancillary Ancillary	658.70 sq m 332.50 sq m 113.10 sq m	(7,090 sq ft) (3,579 sq ft) (1,217 sq ft)	BOOTS UK LIMITED (1)	5 years from 22/05/2015 on a full repairing and insuring lease	£145,000	21/05/2020
Totals		1,104.30 sq m	(11,887 sq ft)			£145,000

(1) For the year ending 31st August 2015, Boots UK Limited reported a turnover of £9,198,000,000, pre-tax profits of £542,000,000 and a total net worth of £367,000,000 (Source: www.riskdisk.com 22/02/2017).