New 10 year extended lease from April 2025 (subject to options)
Rebased rent from £46,000 pa
Approx. 408.87 sq m (4,401 sq ft) over ground, first and second floors
Residential conversion potential (subject to lease and consents, fronting Falmouth Harbour)
Popular Cornish seaside and University town
Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa Coffee and Caffe Nero
VAT-free investment
Lot 22
Auction 15th May 2025
Rent £40,000 per Annum Exclusive
Status Available
Guide* £450,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
11 miles south-west of Truro, 18 miles south of Newquay, 26 miles east of Penzance
Roads
A39, A394, A393
Rail
Falmouth Town Railway Station
Air
Cornwall Airport Newquay
Situation
Falmouth is a popular seaside town in Cornwall, approximately 11 miles south of Truro. The property is situated in Falmouth's prime retailing pitch on the north side of the busy Market Street. Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa and Caffe Nero.
Tenure
Freehold.
Location
Miles
11 miles south-west of Truro, 18 miles south of Newquay, 26 miles east of Penzance
Roads
A39, A394, A393
Rail
Falmouth Town Railway Station
Air
Cornwall Airport Newquay
Situation
Falmouth is a popular seaside town in Cornwall, approximately 11 miles south of Truro. The property is situated in Falmouth's prime retailing pitch on the north side of the busy Market Street. Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa and Caffe Nero.
Tenure
Freehold.
Description
The property comprises a large shop arranged over ground, first and second floors.
VAT
VAT is not applicable to this lot.
EPC
C70.
Description
The property comprises a large shop arranged over ground, first and second floors.
VAT
VAT is not applicable to this lot.
EPC
C70.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (3)
Floor Areas Approx sq ft (3)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
Retail Ancillary Ancillary
166.90 106.12 135.85
(1,796) (1,142) (1,462)
TRESPASS ENTERPRISE LIMITED (1)
10 years from 20/04/2025 until 19/04/2035 (2)
£40,000
20/04/2030
Total
408.87
(4,400)
£40,000
(1) Trespass operate from over 300 stores in the UK and Europe (www.trespass.com). (2) The property is currently let by way of a lease expiring on 19/04/2025 at a rent of £46,000 pa. A new extended lease has recently completed for a term of 10 years from 20/04/2025 at a rent of £40,000 p.a.x. with tenant options to determine the lease on 20/04/2028 and 20/04/2031. (3) 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.
