October 2021: Tuesday 05 October 2021 - 9:00am
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    Key features

    • Investment Let at £22,600 p.a
    • Trading as Costa Coffee
    • Let on effective FR&I 15 year lease from 2017
    • Located in the affluent and picturesque market town of Axminster
    • The upper floors are currently being modernised by the Leaseholder which will improve the façade of the property.

    Description

    A grade 2 listed prominent corner property arranged as a Ground floor and Basement retail unit (trading as a café) and associated storage. Two stories of upper floors (sold off on long lease). The upper floors are currently being modernised by the Leaseholder which will improve the façade of the property.

    Nearby occupiers include McColls, Boots, Santander, Tesco, Vision Express, Post Office, Lloyds Bank and the famous and well known River Cottage cookery school and Delicatessen. The George Hotel is located directly opposite the property.


    Additional information

    Tenure

    Freehold

    Upper floors sold off on Long lease 999 years from 1st December 2016


    Accommodation

    Ground Floor - Retail space and 2 W/CS - approx. 1,465 sq ft

    Basement - Ancillary storage - approx. 1,022 sq ft


    Tenancy

    Ground floor & Basement - Trading as Costa Coffee

    • Let to Jurassic Coast Coffee Ltd on 15 years from 17.01.2017
    • Effective FR&I lease
    • Rent reviews in 2022 and 2027
    • Tenant break option in 2027
    • Investment let at £22,500 p.a.

    First and Second Floor

    • Sold off on a long lease
    • 999 years from the 1st December 2016
    • Ground rent £100 p.a.

    Rent

    £22,600 p.a
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located at the junction with Victoria street, Lyme Street and West Street.

      Axminster is a picturesque market town located on the Eastern border of Devon.

      Axminster Station is located approximately 0.5 miles from the site.

      Transport

      Axminster Station - South Western Services to Exeter and Waterloo London.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums