Comprises a ground floor bakery with four separately let flats above
Shop let to Warrens Bakery Limited expiring December 2028 (subject to option)
Re-based shop rent
Four flats above let on AST's
VAT free investment
Prominent town centre corner location
Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee
Lot 27
Auction 2nd November 2023
Rent £34,820 per Annum Exclusive
Status Sold
Price £276,000
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
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 corner of the pedestrianised Union Street, at its junction with Market Street. Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee.
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
The property is prominently situated in the heart of the town centre, on the corner of the pedestrianised Union Street, at its junction with Market Street. Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground floor only, with four separately accessed flats on the first and second floors, accessed from Pimlico.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band B (Bakery)
Bands D and E (Flats)
Description
The property comprises a shop arranged on the ground floor only, with four separately accessed flats on the first and second floors, accessed from Pimlico.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band B (Bakery)
Bands D and E (Flats)
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Retail/Ancillary/Rear Store
92.53
(996)
WARRENS BAKERY LIMITED (1)
6 years from 25/12/2022 (2)
£12,500
First
Residential
32.33
(348)
AN INDIVIDUAL
Rolling periodic AST from 28/05/2021 at £500 pcm
£6,000
First
Residential
41.71
(449)
AN INDIVIDUAL
Rolling periodic AST from 19/09/2018 at £450 pcm
£5,400
Second
Residential
48.12
(518)
AN INDIVIDUAL
Rolling periodic AST from 24/10/2014 at £455 pcm
£5,460
Second
Residential
40.22
(433)
AN INDIVIDUAL
Rolling periodic AST from 02/05/2014 at £455 pcm
£5,460
Total
254.91
(2,744)
£34,820
(1) Warrens Bakery Limited was incorporated in 1860, and now trade from over 40 stores across England and Wales (www.warrensbakery.co.uk) (2) The lease is subject to a tenant only option to determine on 25/12/2025 and annually thereafter.
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.
