4 Abbey Place Tavistock Devon PL19 0AA

4 Abbey Place
Tavistock
Devon
PL19 0AA

Freehold Convenience Store and Residential Investment

Convenience store with Post Office let to Bestway Retail Limited until 2036 (no breaks)
Lease is subject to 5 yearly rent reviews
Includes two Self Contained flats, two separately let parking spaces and a Recording Studio
VAT free investment

Lot
3
Auction
10th December 2020
Rent
£45,040 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Convenience Store and Residential Investment

Convenience store with Post Office let to Bestway Retail Limited until 2036 (no breaks)
Lease is subject to 5 yearly rent reviews
Includes two Self Contained flats, two separately let parking spaces and a Recording Studio
VAT free investment

Lot 3
Auction 10th December 2020
Rent £45,040 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 15 miles north of Plymouth; 35 miles south west of Exeter
Roads: A386, A30, A38, M5
Air: Exeter International Airport,; Cornwall Airport Newquay

Situation

Tavistock is a popular, attractive and thriving market town on the edge of Dartmoor national park. The property is prominently located in a busy location in the town centre on the west side of Abbey Place (A386).

Tenure

Freehold.

Location

Miles: 15 miles north of Plymouth; 35 miles south west of Exeter
Roads: A386, A30, A38, M5
Air: Exeter International Airport,; Cornwall Airport Newquay

Situation

Tenure

Freehold.

Description

The property comprises a substantial convenience store with Post Office on the ground floor and ancillary accommodation on lower ground and basement floors. The property includes a recording studio to the rear and two 1 bedroom self contained flats on the first floor. The property benefits from car parking at the rear with spaces allocated for use by the commercial and residential tenants and two additional car parking spaces available for separate letting.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Convenience Store	Ground Lower Ground Basement	Retail Ancillary Ancillary	228.58sq m 8.48sq m 21.37sq m	(2,460 sq ft) (91 sq ft) (230 sq ft)	BESTWAY RETAIL LIMITED (1)	20 years from 17/10/2016	£30,000	17/10/2021 and 5 yearly /(16/10/2036)
Recording Studio	Ground (Rear)	Studio	30.25 sq m	(326 sq ft)	INDIVIDUALS	10 years from 10/05/2016	£2,500	10/05/2021 / (09/05/2026)
Flat 1 and 2	First	Residential		2 x 1 bedroom	INDIVIDUALS	1 year assured shorthold tenancies	£11,880	-
Parking Space 1	-	Parking		-	TOWLS OF TAVISTOCK	Informal agreement	£660	-
Parking Space 2	-	Parking		-	VACANT	-	-	-
Total Commercial Floor Area			658.12 sq m	(7,084 sq ft)			£45,040

(1) Bestway Retail Ltd formerly Bargain Booze was incorporated in 1981. In 2017 Bestway Retail Ltd acquired over 100 Central Convenience Stores and now operate over 400 franchised stores and over 150 company owned stores throughout England and Wales, employing nearly 2000 people.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.