LEASE ASSIGNMENT - 11 FORE STREET
Occupied under a 9 year lease commencing 22 January 2014 on FRI basis at £20,000 p.a.
Ground floor shop premises with additional sales and storage accommodation on first, second and basement levels located on the main retailing area of St Ives.
St Ives is one of the most characterful and busiest resorts in the south west. The quaint harbour town is extremely popular during the summer season but also benefits from tourist trade throughout the year due largely to the Tate Gallery and its links with the artist community. The town is highly sought after by National, Regional and Local retailers and there are numerous respected restaurants, bistros and cafes.
The property is situated in the prime retailing location of Fore Street, an all year round busy retail area which comprises numerous popular restaurants, take-away’s and retail outlets. The property is in close proximity to a mixture of national retailers, including Fat Face, Seasalt, Oska Clothes Shop, Pasty Presto, Mountain Warehouse as well as regional and local traders and is within easy walking distance of both the Sloop pay & display car park and the busy harbour front.
The property comprises well presented open plan retailing space on the ground floor with additional sales and storage accommodation at first, second and basement levels. The ground floor double window frontage facing on to the popular Fore Street, curves inwards providing a recessed entrance way into the ground floor sales area. An electric metal security grille exists and although there is good natural light within the shop this is supported with category 3 lighting throughout the ground floor.
ACCOMMODATION: (All dimensions and areas are approximate)
Total sales area - 29.6m² - (319 ft²)
Sales area - 15.6m² - (168 ft²)
Store - 2.0m² - ( 22 ft²)
Store - 8.1m² - ( 87 ft²)
Store - 12.7m² - (137 ft²)
Store - 2.4m² - ( 26 ft²)
Store - 10.3m² - (111 ft²)
Store - 24.7m² - (266 ft²)
The property is occupied under a 9 year lease commencing 22nd January 2014 on a full repairing and insuring basis at a rent of £20,000 per annum. The lease is a protected tenancy under the Landlord & Tenant Act 1954 although all potential purchasers should seek legal advice to clarify their rights for renewal.
Shop & premises £15,250 (2010 list).
For further information regarding rates payable, contact Cornwall Council – Tel: 0300 1234171.
Figures are quoted exclusive of VAT where applicable. We understand the property has not been elected to tax and therefore no VAT is payable on the rent.
The lease is offered for a premium in the region of £50,000. Consideration would be given to selling the business as a going concern with stock at valuation.
The purchaser to be responsible for the tenants reasonable legal fees in dealing with the transaction.
We have not tested the services connected to the premises and the ingoing tenant/purchaser should carry out their own inspections.
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.
ENERGY EFFICIENCY RATING - 95
Certificate Reference Number: 0790-9674-2930-9000-9603
Report Reference Number: 0970-9907-0426-4990-6004
Viewing arrangements may be made through Charterwood on (01872) 261216.
Contact Chris Waters or Jo Counter.
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