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PROMINENT CORNER SITE GRADE II LISTED RETAIL UNIT - 2 BROAD STREET, PADSTOW
New lease, term to be agreed outside Sections 24-28 of the Landlord and Tenant Act - £40,000 pa |
Two storey Grade II Listed building comprising ground floor retail premises situated in a prominent location at the junction between Broad Street and Lanadwell Street.
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 prominent location at the junction between Broad Street and Lanadwell Street facing Market Strand adjoining Stein’s Coffee and Patisserie and opposite Tarquins Gin. Other operators in the area include a mix of predominantly boutique local traders interspersed with a few nationals including Boots.
DESCRIPTION:
Unique opportunity to secure a long lease on character retail premises in excellent trading location.
The two storey Grade II Listed building comprises ground floor retail benefitting from two separate entrances/exits along with side window which has been used for takeaway outlet. There is the added benefit of a small area of land which can be used for limited seating if the property was to be used for food/café purposes. An internal staircase gives access to valuable first floor storage.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground floor
Sales area 41.0 m² (441 ft²)
First floor
Storage 30.6 m² (329 ft²)
LEASE TERMS:
The premises are available by way of a new lease, term to be agreed, but around nine years incorporating three yearly rent reviews on full repairing and insuring terms. The lease will be outside Sections 24-28 of the Landlord and Tenant Act 1954 with no security of tenure.
The landlord is flexible in terms of Permitted Use, the property being suitable for any use with the new Use Class E of the Town and Country (Use Classes) Order 1987, as amended, which covers retail, offices including estate agents and café premises.
RENT:
£40,000 per annum.
PREMIUM:
Premium offers are invited for the grant of a new lease.
RATES:
Rateable value - £18,750 (2017 List). Cornwall Council are the charging authority and enquiries regarding the rates payable and eligibility for any Small Business Rate Relief 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 reasonable legal fees incurred in the preparation and execution of the lease.
SERVICES
We understand the property is connected to mains electricity (three phase), water and drainage but no gas.
MONEY LAUNDERING REGULATIONS
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients and prospective tenants/purchasers that are conducting property transactions through the Company.
ENERGY EFFICIENCY RATING - BAND D
THIS PROPERTY HAS A RATING OF 100
Certificate Reference Numbers: 9151-7322-3568-7977-8141
Property Reference Number: 1256-9162-1710-0055-4522
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