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RETAIL UNIT IN EXCELLENT TRADING LOCATION - 10 THE STRAND, PADSTOW PL28 8AJ
Assignment of existing lease at a rent of £23,500 per annum. |
Character retail premises situated in prime central location within The Strand, Padstow.
LOCATION:
Padstow lies on the north coast of Cornwall on the western side of the Camel Estuary approximately 7 miles west of Wadebridge. The town is popular with day visitors during the holiday season due to its interesting range of shops, its reputation for restaurants, more particularly Rick Stein’s restaurant, together with features such as the harbour, ferry to Rock and the Camel Trail cycle path to Wadebridge and Bodmin. Whilst Padstow’s resident population is approaching 7,000 persons, its catchment during the holiday season is significantly more, benefiting from a large influx of tourists both from the immediate vicinity as well as Newquay.
SITUATION:
The property is situated in a prime central location within the Strand which is the main link between the harbour and Market Place. Nearby occupiers include a mix of boutique retail, galleries, restaurants and holiday accommodation.
DESCRIPTION:
Unique opportunity to secure a lease on character retail premises in excellent trading location.
The ground floor shop has frontage onto the harbour and internally is open plan layout with small rear storage area and toilet facility.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground floor
Internal width 5.10 m
Shop depth 4.75 m
Sales area 24.06 m² (259 ft²)
Storage 2.90 m² (31 ft²)
Staff WC
LEASE TERMS:
The property is offered by means of an assignment of the existing lease which was granted for a term of six years commencing 1st October 2024 at a rent of £23,500 per annum payable quarterly in advance. The lease is on internal repairing and insuring terms. The lease is excluded from Sections 24-28 of the Landlord and Tenant Act 1954.
RENT:
£23,500 per annum, subject to review effective from 1st October 2027.
PREMIUM:
Offers in excess of £20,000 are sought for the lease assignment.
RATES:
Rateable Value to 31st March 2026 £15,570
Rateable Value from 1st April 2026 £20,000
Cornwall Council are the charging authority and enquiries regarding the rates payable should be made with them - Tel: 0300 123 4171.
VAT:
We understand that VAT is not payable on the rent.
COSTS:
The ingoing tenant to be responsible for the Landlord’s and Assignor’s reasonable legal fees incurred in dealing with the assignment.
SERVICES
Mains electricity, water and drainage are connected. A wall mounted air conditioning unit is fitted. We have not tested the services connected to the premises and the ingoing tenant should carry out their own inspections.
MONEY LAUNDERING REGULATIONS
In line with The Money Laundering Regulations 2017, Charterwood are obliged to verify ID for all clients and prospective tenants/purchasers that are conducting property transactions through the Company.
ENERGY EFFICIENCY RATING:
LYING WITHIN BAND C (67)
Certificate Reference No. 2300-6750-7294-0574-7442
Recommendation Report No. 6086-1122-3872-6725-7932
VIEWING:
By appointment with Charterwood on (01872) 261216. Contact Stuart Sly or James Laskowski.
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