Sainsbury's lease expires 2027 (subject to option)
RPI linked rent reviews
Approximately 969.97 sq m (10,441 sq ft)
Prominent main road location close to Plymouth University
Nearby Occupiers include Aldi, Costa Coffee and Boots the Chemist
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 48
Auction 30th March 2017
Rent £101,759 per Annum Exclusive
Status Sold
Price £1,150,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Situation
The property is located mid terrace in a parade on the east side of Mutley Plain, a prominent arterial
route one mile north-east of Plymouth city centre. The property benefits from close proximity to
Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Tesco Express, Co-operative Food, Superdrug, KFC, Domino’s Pizza, Boots the Chemist and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Situation
The property is located mid terrace in a parade on the east side of Mutley Plain, a prominent arterial
route one mile north-east of Plymouth city centre. The property benefits from close proximity to
Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Tesco Express, Co-operative Food, Superdrug, KFC, Domino’s Pizza, Boots the Chemist and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a convenience store arranged on the ground, basement and first floors and a coffee shop arranged on the ground and first floors.
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
The property comprises a convenience store arranged on the ground, basement and first floors and a coffee shop arranged on the ground and first floors.
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
Reviews
Basement Ground First
Ancillary Convenience Store Ancillary
199.93 sq m 329.81 sq m 285.77 sq m
(2,152 sq ft) (3,550 sq ft) (3,076 sq ft)
SAINSBURY'S SUPERMARKETS LIMITED (1)
15 years from 05/10/2012 until 04/10/2027 (2)
£86,000
05/10/2017 and 5 yearly thereafter linked to RPI (3)
Ground First
Retail Ancillary
130.06 sq m 24.43 sq m
(1,400 sq ft) (263 sq ft)
13 MUTLEY PLAIN LIMITED with a PERSONAL GUARANTEE t/a Barista Brothers (4)
15 years from 07/11/2014 until 06/11/2029
£15,759.38
07/11/2017 and annually thereafter linked to RPI (5)
Totals
969.97 sq m
(10,441 sq ft)
£101,759.38
(1) For the year ending 12th March 2016, Sainsbury’s Supermarkets Ltd reported a turnover of £23,168,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,458,000,000 (Source: Experian Group 21/02/2017). (2) The lease provides for a tenant option to determine in October 2022. (3) The lease is subject to five yearly rent reviews linked to the Retail Price Index, subject to a minimum of 1.5% and a maximum of 3.5% compounded per annum. (4) Barista Brothers is a coffee franchise with three outlets in Devon and Dorset (Source: www.baristabrothers.co.uk 22/02/2017). (5) The lease is subject to annual rent reviews linked to the Retail Price Index, subject to a minimum of 2.5% and a maximum of 4% compounded per annum.
