42-44 Union Street Torquay Devon TQ2 5PW

42-44 Union Street
Torquay
Devon
TQ2 5PW

Freehold Retail Investment

Let to River Island Fashion Limited with Guarantee from River Island Clothing Co. Limited
New 5 year lease renewal for September 2022 (subject to option)
Re-based Rent (Previous Rent £72,500 pax)
Tenant in occupation since at least 2009
Approx. 6,275 sq ft (including trading accommodation at first floor)
Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's

Lot
27
Auction
3rd November 2022
Rent
£30,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Live Streamed Auction
On Behalf of Pension Trustees

Interested?

Expand
Photos
Map

Freehold Retail Investment

Let to River Island Fashion Limited with Guarantee from River Island Clothing Co. Limited
New 5 year lease renewal for September 2022 (subject to option)
Re-based Rent (Previous Rent £72,500 pax)
Tenant in occupation since at least 2009
Approx. 6,275 sq ft (including trading accommodation at first floor)
Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's

Lot 27
Auction 3rd November 2022
Rent £30,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of Pension Trustees

Property Information

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A38, A380, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

The property is prominently situated in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's.

Tenure

Freehold.

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A38, A380, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

Tenure

Freehold.

Description

The purpose built retail property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 week completion.

EPC

Please see legal pack.

Description

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 week completion.

EPC

Please see legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground Basement First Second	Retail/Ancillary Ancillary Retail/Ancillary Ancillary	257.00 30.00 283.00 13.00	(2,766) (323) (3,046) (140)	RIVER ISLAND FASHION LIMITED with a guarantee from RIVER ISLAND CLOTHING CO LIMITED (1)	5 years from 30/09/2022 on a full repairing & insuring lease (2)	£30,000
Total		583.00	(6,275)			£30,000

(1) For the year ending 31st December 2021, River Island Clothing Co. Limited reported a turnover of £675,100,000, a pre-tax profit of £60,800,000 and shareholder funds of £152,600,000. (www.northrow.com 06/10/2022). The lease is guaranteed by River Island Clothing Company Limited up until the expiry of the second year of the lease.
(2) The lease is subject to a tenant only option to determine on 29/09/2024

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.