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 Available
Guide* £200,000 - £225,000
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
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.
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.
