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RETAIL INVESTMENT PROPERTY FOR SALE - 1 PYDAR STREET, TRURO TR1 2AR
Auction on 11th June 2025 at a Guide Price of £700,000 |
RRETAIL INVESTMENT PROPERTY FOR SALE - to be offered at Auction on 11th June 2025 at a guide price of £700,000. Property currently let on a 10-year lease from 16th October 2023 at £70,000 per annum.
LOCATION:
Truro is the principal retail and administrative centre for Cornwall with a resident population of approximately 23,000 and an estimated retail catchment of just under 300,000. This population is increased considerably during the summer months due to the large influx of tourists.
DESCRIPTION:
The property is situated in a 100% prime retail location at the junction of Pydar Street and King Street. Other nearby retailers include Boots, TK Maxx, Nationwide and Regatta.
DESCRIPTION:
The building was developed in 1982/3 and is arranged on ground and first floors and includes a secure rear yard with parking for four cars. A staircase 8.6m from the front of the building provides customer access to the first floor sales area. A separate rear staircase provides loading/staff access between ground and first floors. The property backs onto the Leats which provides rear loading to the shops along King Street, Pydar Street and St Nicholas Street.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground Floor
Net internal width 6.19m
Shop depth 17.36m
Floor area 157.61 m² (1,696 ft²) GIA
First Floor
Floor area 156.66 m² (1,686 ft²) GIA
LEASE:
Tenant: Ritual Cosmetics UK Limited (Company Reg. No. 06439107)
Term: Ten years from 16th October 2023.
Rent: £70,000 per annum payable quarterly in advance.
Rent Review: 16th July 2028 upward only to Market Rent.
Tenant Break Clause: 15th October 2028 exercisable on 6 months’ notice.
Repairs: Full repairing terms subject to a Schedule of Condition.
Insurance: Reimbursed by the tenant.
VAT:
The property is not registered for VAT.
BUSINESS RATES:
Rateable Value £65,000 as at 1st April 2023.
ENERGY PERFORMANCE CERTIFICATE:
Certificate Reference Number: 5367-8413-3572-3317-1241
Report Reference Number: 9499-5813-1476-3048-876
MONEY LAUNDERING REGULATIONS:
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.
GUIDE PRICE:
£700,000.
VIEWING:
Viewing arrangements may be made through agents Charterwood on (01872) 261216.
Contact Stuart Sly – stuart@charterwood.com
Joint Auctioneers: Allsop 020 7543 6780
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