Entirely Let to Iceland Foods Limited on an Extended Lease until December 2027 (no breaks)
Popular Seaside Town
Busy Town Centre Location
Nearby occupiers include JD Wetherspoons, Halifax, Clarks, Oxfam, Vodafone, Boots
Lot 28
Auction 15th December 2022
Rent £75,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles south east of Exeter, 35 miles south west of Taunton
Roads
A30, A38, A376, M5 (J30)
Rail
Exmouth Railway Station
Air
Exmouth International Airport
Situation
The property is located in the attractive and popular seaside town of Exmouth 10 miles south of Exeter. The property is situated on the north side of the Parade in the busy town centre close to the junction with Imperial Road (A376), Exmouth Railway Station and Exmouth Beach. Nearby occupiers include JD Wetherspoons, Halifax, Clarks, Oxfam, Vodafone, Boots and many more national and local retailers.
Tenure
Freehold.
Location
Miles
10 miles south east of Exeter, 35 miles south west of Taunton
Roads
A30, A38, A376, M5 (J30)
Rail
Exmouth Railway Station
Air
Exmouth International Airport
Situation
The property is located in the attractive and popular seaside town of Exmouth 10 miles south of Exeter. The property is situated on the north side of the Parade in the busy town centre close to the junction with Imperial Road (A376), Exmouth Railway Station and Exmouth Beach. Nearby occupiers include JD Wetherspoons, Halifax, Clarks, Oxfam, Vodafone, Boots and many more national and local retailers.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor supermarket with ancillary accommodation on the first floor and benefits from rear access via Sheppard's Row.
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 double fronted ground floor supermarket with ancillary accommodation on the first floor and benefits from rear access via Sheppard's Row.
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 sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reversion
Ground First
Supermarket Ancillary
493.79 430.30
(5,315) (4,631)
ICELAND FOODS LIMITED (1)
5 year lease extension from 25/12/2022
£75,000
24/12/2027
Total Approximate Floor Area
924.09
(9,946) (2)
£75,000
(1) For the year ending 26/03/2021 Iceland Foods Limited (CRN 01107406) reported a Turnover of £3,715,000,000, a Pre-Tax Profit of £73,100,000 and a Net Worth of £707,000,000 (NorthRow 18/11/2022). (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
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.
