Offers over
£595,000
(£47.66/sq. ft)
Retail premises for saleAylmer Square, St Austell PL25
12,483 sq. ft
About this property
Town Centre Location
Substantial 5 Property Retail Portfolio
Tenanted By Argos, Specsavers, Boots, W.H Smith & H. Samuel
Income Producing £81,952p.a.x.
Price: O/o £595,000
Town Centre Location
Substantial 5 Property Retail Portfolio
Tenanted By Argos, Specsavers, Boots, W.H Smith & H. Samuel
Income Producing £81,952p.a.x.
Price: O/o £595,000
Location
St Austell is an attractive tourist and retailing destination, 13 miles north-east of Truro and the world famous Eden Project located only 3 miles to the north-east of the town centre. The property is prominently situated on the south side of Fore Street in the heart of the town centre benefitting from a frontage to Aylmer Square. Nearby occupiers include Sports Direct, game, Iceland, Poundland, Vodafone, EE and The White River Place Shopping Centre
Property
The property comprises a substantial town centre retail parade with significant frontages onto Fore Street and Aylmer Square. Occupiers include H Samuel, Specsavers and Argos together with Boots and WHSmith which have been sold off on long leases
Executive Summary
47/49 Aylmer Square extends to 838.2sqm (9,022sq ft) over ground floor and is held on a full repairing and insuring head lease to Argos Limited expiring 7th August 2028 at a passing rent of £49,000p.a.x. Argos Limited, formerly known as Argos Distributors Limited, has an annual turnover of approximately £4.2 billion as of the latest financial data. This significant revenue highlights Argos as one of the major players in the UK retail market, specializing in non-specialized retail sales through its various catalog and online platforms. The company has integrated many of its standalone stores into Sainsbury's supermarkets following its acquisition by Sainsbury's in 2016, with no Sainsbury’s within the town, there is still significant demand to hold a stand alone Argos store.
37 Fore Street is formed over ground (1,188sq ft), basement (218sq ft) and first floor (337sq ft) held on a full repairing and insuring head lease expiring 10th April 2028 to Signet Trading Ltd t/a H. Samuel at a passing rent of £14,100p.a.x The tenant has a break option in April 2026.
39 Fore Street is formed over ground (1,240sq ft), lower ground (131sq ft) and first floor (347sq ft) held on a full repairing and insuring head lease expiring 28th September 2026 to Specsavers Optical Superstores ltd at a passing rent of £18,850p.a.x The tenant has a break option in April 2026. Specsavers Optical Superstores Ltd reported an annual turnover of £3.42 billion for the fiscal year ending February 28,2023. This marks a slight increase of 1.1% from the previous year's turnover of £3.39 billion. Despite this increase in revenue, the company's operating profit decreased by 39%, from £453 million to £326 million, due to efforts to mitigate inflationary pressures and avoid significant price hikes for customers. As of 2024, Specsavers operates approximately 1,000 stores in the UK. This milestone marks a significant growth for the company, which has been expanding steadily since it first opened a practice in Bristol 40 years ago
1 Aylmer Square, occupied by W.H Smith, is held on a 99yr ground lease expiring 28th September 2079 at a passing rent of £1 per annum
29 & 31 Fore Street, occupied by Boots, is held on a 99yr ground lease expiring 9th November 3010 at a passing rent of £1 per annum
Sale
The property portfolio is available on a freehold basis for £595,000
V.A.T.
Our client has opted to waive exemption for V.A.T. The transaction will be treated as a Transfer Of a Going Concern (ToGC)
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time
Substantial 5 Property Retail Portfolio
Tenanted By Argos, Specsavers, Boots, W.H Smith & H. Samuel
Income Producing £81,952p.a.x.
Price: O/o £595,000
Location
St Austell is an attractive tourist and retailing destination, 13 miles north-east of Truro and the world famous Eden Project located only 3 miles to the north-east of the town centre. The property is prominently situated on the south side of Fore Street in the heart of the town centre benefitting from a frontage to Aylmer Square. Nearby occupiers include Sports Direct, game, Iceland, Poundland, Vodafone, EE and The White River Place Shopping Centre
Property
The property comprises a substantial town centre retail parade with significant frontages onto Fore Street and Aylmer Square. Occupiers include H Samuel, Specsavers and Argos together with Boots and WHSmith which have been sold off on long leases
Executive Summary
47/49 Aylmer Square extends to 838.2sqm (9,022sq ft) over ground floor and is held on a full repairing and insuring head lease to Argos Limited expiring 7th August 2028 at a passing rent of £49,000p.a.x. Argos Limited, formerly known as Argos Distributors Limited, has an annual turnover of approximately £4.2 billion as of the latest financial data. This significant revenue highlights Argos as one of the major players in the UK retail market, specializing in non-specialized retail sales through its various catalog and online platforms. The company has integrated many of its standalone stores into Sainsbury's supermarkets following its acquisition by Sainsbury's in 2016, with no Sainsbury’s within the town, there is still significant demand to hold a stand alone Argos store.
37 Fore Street is formed over ground (1,188sq ft), basement (218sq ft) and first floor (337sq ft) held on a full repairing and insuring head lease expiring 10th April 2028 to Signet Trading Ltd t/a H. Samuel at a passing rent of £14,100p.a.x The tenant has a break option in April 2026.
39 Fore Street is formed over ground (1,240sq ft), lower ground (131sq ft) and first floor (347sq ft) held on a full repairing and insuring head lease expiring 28th September 2026 to Specsavers Optical Superstores ltd at a passing rent of £18,850p.a.x The tenant has a break option in April 2026. Specsavers Optical Superstores Ltd reported an annual turnover of £3.42 billion for the fiscal year ending February 28,2023. This marks a slight increase of 1.1% from the previous year's turnover of £3.39 billion. Despite this increase in revenue, the company's operating profit decreased by 39%, from £453 million to £326 million, due to efforts to mitigate inflationary pressures and avoid significant price hikes for customers. As of 2024, Specsavers operates approximately 1,000 stores in the UK. This milestone marks a significant growth for the company, which has been expanding steadily since it first opened a practice in Bristol 40 years ago
1 Aylmer Square, occupied by W.H Smith, is held on a 99yr ground lease expiring 28th September 2079 at a passing rent of £1 per annum
29 & 31 Fore Street, occupied by Boots, is held on a 99yr ground lease expiring 9th November 3010 at a passing rent of £1 per annum
Sale
The property portfolio is available on a freehold basis for £595,000
V.A.T.
Our client has opted to waive exemption for V.A.T. The transaction will be treated as a Transfer Of a Going Concern (ToGC)
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time
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