8 Bank Street Newquay Cornwall TR7 1JF

8 Bank Street
Newquay
Cornwall
TR7 1JF

Newly-Let Freehold Bakery/Coffee Shop Investment

New 10 year lease from 05/11/2024 (subject to option)
Recently let to Bakery/Coffee Shop t/a Bank Street Kitchen (to open end of November)
Prime position in busy retailing pitch
Nearby occupiers include Holland & Barrett, Mountain Warehouse, Boots, Caffe Nero, Claire's and Millets
VAT Free Investment

Lot
26
Auction
12th December 2024
Rent
£23,000 per Annum Exclusive
Status
Sold
Price
£227,000
Auction Venue
Live Streamed Auction

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Newly-Let Freehold Bakery/Coffee Shop Investment

New 10 year lease from 05/11/2024 (subject to option)
Recently let to Bakery/Coffee Shop t/a Bank Street Kitchen (to open end of November)
Prime position in busy retailing pitch
Nearby occupiers include Holland & Barrett, Mountain Warehouse, Boots, Caffe Nero, Claire's and Millets
VAT Free Investment

Lot 26
Auction 12th December 2024
Rent £23,000 per Annum Exclusive
Status Sold
Price £227,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 14 miles north of Truro, 50 miles west of Plymouth
Roads: A30, A39, A392
Rail: Newquay Railway Station
Air: Cornwall Airport Newquay

Situation

The property is prominently situated on the south side of pedestrianised Bank Street, the prime retailing pitch in Newquay town centre. Nearby occupiers include Holland & Barrett, Mountain Warehouse, Boots, Caffe Nero, Claire's and Millets.

Tenure

Freehold.

Location

Miles: 14 miles north of Truro, 50 miles west of Plymouth
Roads: A30, A39, A392
Rail: Newquay Railway Station
Air: Cornwall Airport Newquay

Situation

Tenure

Freehold.

Description

The property comprises a ground floor shop, which is currently being fitted to trade as Bank Street Kitchen, a Bakery/Coffee Shop.

VAT

VAT is not applicable to this lot.

EPC

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

Description

The property comprises a ground floor shop, which is currently being fitted to trade as Bank Street Kitchen, a Bakery/Coffee Shop.

VAT

VAT is not applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (2)	Floor Areas Approx sq ft (2)	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Retail	83.65	(900)	THE CORNISH LUNCHBOX LIMITED with a personal guarantee t/a Bank Street Kitchen	10 years from 05/11/2024 (1)	£23,000	05/11/2029 05/11/2034
Total		83.65	(900)			£23,000

(1) The lease provides for a tenant option to determine the lease on 30/09/2028 upon serving 6 months written notice. The lease provides for a 6 month rent free period from the start of the lease. The Seller will top up the rent from completion of the sale until the end of the rent free period. The Seller holds a rent deposit of £5,750.
(2) Areas provided by VOA (www.gov.uk/find-business-rates).

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.