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The property comprises a high yielding, multi-let, retail investment occupying a prime pedestrianised pitch.
Arranged as three retail units and upper parts, the property is fully let to three tenants and producing a total rent of £208,053 per annum.
Unit 1 is let to Poundstretcher on a five year lease expiring 05.01.2030 and paying £68,053 per annum.
Unit 2 is let to HMV on a five year lease expiring 31.03.2028 and paying £50,000 per annum. The current lease is a renewal of a previous lease.
Unit 3 is let to Sports Direct on a five year lease expiring 09.05.2028 and paying £90,000 per annum. The tenant has been in occupation since 2002. We understand the tenant has expressed openess to discussing extending the lease.
The property occupies a prime pitch fronting the pedestrianised Pydar Street, one of the principal retail streets in the heart of Truro. The street is characterised by national retailers including Boots, TK Maxx, New Look and Pandora.
Tenure
Freehold
Tenancy
Please review the tenancy schedule and legal pack for more information.
Please note, whilst Poundstretcher recently announced a restucturing plan, the subject property was names within "Class A1" the highest possible class within their estate with no proposed changes to rent.
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).