Tenancy & Accommodation
| Floor |
Use |
Floor Areas
Approx sq m |
Floor Areas
Approx sq ft |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
Ground
First
Second |
Retail
Ancillary
Ancillary |
130.50
65.50
55.00 |
(1,404)
(705)
(592) |
THE CORNISH BAKERY SHOPS LIMITED (CRN: 02177016)
(1) |
10 years
(2) (3) |
£65,000 |
At the fifth anniversary of the term |
| Total |
|
251.00 |
(2,701)
(4) |
|
|
£65,000 |
|
(1) For the year ending 26/05/2022 The Cornish Bakery Shops Ltd reported a Turnover of £20,892,358 a Pre-Tax Profit of £2,521,303 and a Net Worth of £4,011,022 (NorthRow 31/08/2022). The Cornish Bakery Shops Limited were incorporated in 1987, trade under the brand name of The Cornish Bakehouse and currently have 58 bakeries across England (www.cornish-bakehouse.co.uk).
(2) Heads of Terms anticipate a 12 month rent free period. The seller will pay to the Buyer the rent that would have been due from completion of the sale until the end of the rent free period.
(3) The lease provides for a tenant option to determine the lease at the fifth anniversary of the term.
(4) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
