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BOOTS INVESTMENT FOR SALE - BASSETT ROAD, ILLOGAN, REDRUTH TR16 4SS
Offers are sought in the region of £175,000 |
Boots Investment for sale. The property is situated on Bassett Road close to the centre of the village of Illogan, just north of Redruth and in close proximity to the main A30.
LOCATION:
Illogan is a small village situated just north of Redruth and in close proximity to the main A30. The commuter village has a public house, a few shops including a small Morrisons convenience store along with two separate doctors’ surgeries. In addition, there are a number of holiday parks within the surrounding areas of the village and a popular fish and chip shop centrally located.
SITUATION:
The property is situated on Bassett Road, close to the centre of the village, midway between the two doctors’ surgeries, opposite the car park to the Robartes Arms, Keltek Cornish Brewery pub, and in close proximity to the Morrisons convenience store. However, the surrounding area is predominantly residential.
DESCRIPTION:
The property is occupied by Boots the Chemist which comprises of a large open plan retail shop and a very busy pharmacy serving both surgeries within close proximity.
ACCOMMODATION: (All dimensions and areas are approximate)
Total sales area 42.7 m² (459 ft²)
The shop is of a regular layout with 7m width and approximately 12m depth with good traditional retail frontage and combined stepped and a disabled ramped access.
Rear pharmacy/office 28.4 m² (306 ft²)
Toilet facilities
In front of the premises are two designated car spaces whilst there is plenty of roadside parking within the vicinity.
LEASE DETAILS
The freehold of the property, comprising ground floor Boots investment along with first-floor residential flat, will be offered. This will be subject to a 999-year lease on the flat where the tenant will be responsible for the repair of the roof and their external structural walls. The flat will be subject to peppercorn rent.
The ground floor is occupied by Boots UK Limited, a blue-chip company which needs little further explanation. The lease is for the remainder of a ten-year term commencing 25th December 2016, i.e., expires 24th December 2026. Negotiations are presently ongoing in respect to the outstanding rent review, due 24th December 2021, but also in respect to an extension to the existing term. Boots are responsible for the full repair and decoration of their demised premises as well as contributing a fair proportion to the maintenance of the front forecourt. Further, Boots are responsible for contributing a fair proportion to the building’s insurance. The passing rent, subject to review, is £13,700 per annum which is payable quarterly in advance.
BUSINESS RATES:
The property has a Rateable Value effective from the 1st April 2023 of £20,250 and is described as a “Pharmacy and Premises”.
For further information regarding rates payable and eligibility for small business relief contact Cornwall Council.
Tel: 0300 1234171.
PRICE
Offers are sought in the region of £175,000 (One Hundred and Seventy-Five Thousand Pounds) for the freehold interest, subject to the occupational lease to Boots and the long lease on the flat at a peppercorn rent. The first-floor flat, subject to the long lease, is presently being separately marketed. Consideration would be given to selling the freehold interest in the entire building with vacant position on the flat and subject to the occupational lease on the ground floor shop.
VAT:
The property is not registered for VAT, therefore will be no VAT payable on the sale price.
SERVICES:
The shop has air conditioning fitted and there is mains gas, mains waters and drainage to the site. The services are fully self-contained with on-site meters.
PLANNING:
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.
LEGAL COSTS:
Each party to be responsible for their own legal fees in the transaction.
MONEY LAUNDERING REGULATIONS:
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.
ENERGY EFFICIENCY RATING:
THE PROPERTY HAS A RATING OF 48
Certificate Reference Number: 3896-1815-3948-5261-6009
Report Reference Number: 0463-7755-2298-1518-0182
The EPC certificate is valid until 16th March 2033.
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