15 Fore Street St Stephen St Austell PL26 7NN

15 Fore Street
St Stephen
St Austell
PL26 7NN

Freehold Convenience Store Investment

Entirely let to Co-operative Group Limited until 2033 (subject to option)
Includes 3 car parking spaces and a 3 bedroom flat
Rent reviews linked to CPI subject to a minimum of 1% per annum and a maximum of 3%
Located just off the the A3058, providing links to St Austell and Newquay

Lot
22
Auction
23rd May 2019
Rent
£32,000 per Annum Exclusive
Status
Sold
Price
£510,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Convenience Store Investment

Entirely let to Co-operative Group Limited until 2033 (subject to option)
Includes 3 car parking spaces and a 3 bedroom flat
Rent reviews linked to CPI subject to a minimum of 1% per annum and a maximum of 3%
Located just off the the A3058, providing links to St Austell and Newquay

Lot 22
Auction 23rd May 2019
Rent £32,000 per Annum Exclusive
Status Sold
Price £510,000
Sector
Supermarket/Convenience
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 5 miles west of St Austell; 11 miles south-east of Newquay; 11 miles north-east of Truro
Roads: A3058, A390, A30
Rail: St Austell
Air: Cornwall Airport Newquay

Situation

St Stephen-in-Brannel is a predominantly residential suburb located equidistant from Newquay to the north-east and Truro to the south-west. The property is located on the north side of the A3058, which provides links to St Austell and Newquay.

Tenure

Freehold.

Location

Miles: 5 miles west of St Austell; 11 miles south-east of Newquay; 11 miles north-east of Truro
Roads: A3058, A390, A30
Rail: St Austell
Air: Cornwall Airport Newquay

Situation

Tenure

Freehold.

Description

The property comprises ground floor convenience store accommodation and part ground and first floor residential accommodation that comprises a three bedroom flat. The property benefits from three customer parking spaces at the front.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Bands C and D. See legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Bands C and D. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Part Ground and First	Convenience Store Residential	268.58 sq m 126.00 sq m	(2,891 sq ft) (1,356 sq ft)	CO-OPERATIVE GROUP LIMITED (1)	15 years from 29/09/2018 until 28/09/2033 (2) on a full repairing and insuring lease	£32,000	29/09/2023 29/09/2028. Rent reviews linked to CPI (min of 1%/ max 3%)
Total		394.58 sq m	(4,247 sq ft)			£32,000

(1) For the year ending 6th January 2018, Co-operative Group Limited reported a turnover of £9,470,000,000, pre-tax profits of £72,000,000 and a total net worth of £2,191,000,000 (Source: Experian Group 26/04/2019).
(2) The lease provides for a tenant option to determine on 29/09/2028.