9 - 13 Mutley Plain Plymouth Devon PL4 6JG

9 - 13 Mutley Plain
Plymouth
Devon
PL4 6JG

Freehold Convenience Store and Retail Investment

Majority let to Sainsbury's Supermarkets Limited
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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Convenience Store and Retail Investment

Majority let to Sainsbury's Supermarkets Limited
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

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.