St Ives

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PROMINENT RETAIL PREMISES TO LET - ST EIA HOUSE, MARKET PLACE

Assignment of existing 10 year lease at a passing rent £28,500 p.a. plus ingoing premium

Open plan accommodation with large double frontage facing directly on to Market Place

LOCATION:
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.

SITUATION:
The property is situated in a prominent position between High Street, a popular trading street with a mix of National Banks and retailers, and the commencement of Fore Street, the prime retailing area within the town. The property is in close proximity to Boots the Chemist, Barclays and HSBC banks, Save the Children, Jo Downs Glass and a number of local retailers.

DESCRIPTION:
Open plan accommodation with rear raised sales area. Good natural light is provided by large double frontage facing directly on to Market Place. A two storey store is at the rear of the premises with a door leading to the yard and external toilet facility. A gate within the yard gives access onto Wills Lane.

ACCOMMODATION: (All dimensions and areas are approximate)

Shop frontage 5.60m
Shop depth 10.55m
Sales area 60.10m² (647 ft²) (excluding steps)
Total store 13.20m² (142 ft²)
Small yard
Staff toilet facilities

LEASE TERMS:
Available by way of an assignment of the existing 10 year lease, commencing 29 September 2011. The lease is held on a new proportional full repairing and insuring lease and is inside the Landlord and Tenant Act 1954.

RENT:
The passing rent is £28,500 per annum, payable quarterly in advance. Rent reviews are due on 29 September 2015 and 29 September 2019.

PREMIUM:
An ingoing premium in the region of £25,000 is sought for the remaining lease term.

BUSINESS RATES:
2010 Rateable value - £17,500
Cornwall Council are the charging authority and enquiries regarding the rates payable should be made with them - Tel: 0300 1234171.

VAT:
We understand that the property is not registered for VAT.

SERVICES:
We have not tested the services connected to the premises and the ingoing tenant/purchaser should carry out their own inspections.

PLANNING:
Interested parties should satisfy themselves that their proposed use complies with the existing planning consent.

LEGAL COSTS:
The ingoing assignee will be responsible for the assignor’s reasonable legal costs incurred in dealing with the lease assignment documentation.

VIEWING:
By appointment through Charterwood on (01872) 261216.
Contact Chris Waters or Helen Fussey.

ENERGY PERFORMANCE CERTIFICATE:
Certificate Reference Number: 9310-3062-0921-0790-7501
Report Reference Number: 0730-0742-1919-0602-5092

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