1/2 Market Jew Street Penzance Cornwall TR18 2HN

1/2 Market Jew Street
Penzance
Cornwall
TR18 2HN

Freehold Town Centre Retail Investment

Let to Blacks Outdoor Retail Limited (a part of JD Sports Fashion Plc)
New 5 year lease renewal from June 2021 (subject to option)
Re-based rent
Central High Street location in popular tourist resort
Close to Wharfside Shopping Centre with other nearby occupiers including Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.

Lot
28
Auction
12th July 2022
Rent
£25,000 per Annum Exclusive
Status
Sold
Price
£320,000
Auction Venue
Live Streamed Auction

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Freehold Town Centre Retail Investment

Let to Blacks Outdoor Retail Limited (a part of JD Sports Fashion Plc)
New 5 year lease renewal from June 2021 (subject to option)
Re-based rent
Central High Street location in popular tourist resort
Close to Wharfside Shopping Centre with other nearby occupiers including Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.

Lot 28
Auction 12th July 2022
Rent £25,000 per Annum Exclusive
Status Sold
Price £320,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads: A30, A3071, A394
Rail: Penzance Railway Station

Situation

The property is situated in the popular tourist resort of Penzance, on the western side of the principal retailing pitch of Market Jew Street, and 300 metres from Penzance Railway Station. The property is located a short distance from the Wharfside Shopping Centre, which includes retailers such as Costa, Iceland and numerous independent retailers. Other nearby occupiers include Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.

Tenure

Freehold.

Location

Miles: 33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads: A30, A3071, A394
Rail: Penzance Railway Station

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor with ancillary accommodation arranged on the first, second and third floors. The property benefits from a loading bay at the rear.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a shop arranged on the ground floor with ancillary accommodation arranged on the first, second and third floors. The property benefits from a loading bay at the rear.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground First Second Third	Retail/Ancillary Ancillary Ancillary Ancillary	183.86 167.41 60.85 48.03	(1,979) (1,802) (655) (517)	BLACKS OUTDOOR RETAIL LIMITED (1) (t/a Millets)	5 years from 24/06/2021 (2) on a full repairing and insuring lease	£25,000
Total		460.15	(4,953)			£25,000

(1) Blacks Outdoor Retail Limited are a wholly owned subsidiary of JD Sports Fashion Plc (www.millets.co.uk)
(2) The lease benefits from a tenant only option to break in year 3, subject to 6 months' notice. The tenant will be liable for a break penalty of £12,500 plus VAT if they exercise their break.

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.