Retail/Shop for sale Launceston PL15 8AE,5986sq ft

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Retail/Shop

Retail/Shop For Sale Launceston

PROPERTY ID: 139221

PROPERTY TYPE

Retail/Shop

STATUS

Available

SIZE

5,986 sq.ft

Key Features

Freehold town centre income producing Retail investment

Prime trading position

Let to Scoffs (Cornwall) Ltd, t/a Costa Coffee

10 year lease expiring 30th January 2035

Total rent: £25,000 p.a.

Guide price: £325,000

Property Details

The town of Launceston has a population in excess of circa 10,250 and is located in East Cornwall close to the County boundary with Devon. The town serves the larger rural catchment between Bodmin Moor to the west, Dartmoor to the east and Bude to the north. The regional centre of Plymouth lies approximately 20 miles to the south. The town lies in the former North Cornwall district and is situated immediately to the north of the A30 dual carriageway which provides the main arterial route through Devon and Cornwall, and links with the M5 Motorway at Exeter approximately 45 miles to the east. Launceston provides a comprehensive range of retail, professional and social, educational and employment facilities including the Pennygillam Industrial Estate which lies to the southwest of the town strategically located adjacent to the A30. Situated in the prime central square with a Broad Street address but fronting a pedestrianised area known as High Street. Adjoining occupiers are William Hill and HSBC Bank with nearby occupiers including Boots, Lloyds Bank and Specsavers.

Freehold Town Centre Income Producing Retail Investment Prime Trading Position Let To Scoffs (cornwall) Ltd, T/a Costa Coffee Total Rent: £25,000 P.a. 10 Year Lease Expiring 30th January 2035 The Town Of Launceston Has A Population In Excess Of Circa 10,250 And Is Located In East Cornwall Close To The County Boundary With Devon. The Town Serves The Larger Rural Catchment Between Bodmin Moor To The West, Dartmoor To The East And Bude To The North. The Regional Centre Of Plymouth Lies Approximately 20 Miles To The South. The Town Lies In The Former North Cornwall District And Is Situated Immediately To The North Of The A30 Dual Carriageway Which Provides The Main Arterial Route Through Devon And Cornwall, And Links With The M5 Motorway At Exeter Approximately 45 Miles To The East. Launceston Provides A Comprehensive Range Of Retail, Professional And Social, Educational And Employment Facilities Including The Pennygillam Industrial Estate Which Lies To The Southwest Of The Town Strategically Located Adjacent To The A30. Situated In The Prime Central Square With A Broad Street Address But Fronting A Pedestrianised Area Known As High Street. Adjoining Occupiers Are William Hill And Hsbc Bank With Nearby Occupiers Including Boots, Lloyds Bank And Specsavers. The Property Comprises An Imposing 4 Storey Grade 2 Listed Period Building. The Ground Floor Is Well Presented Trading As Costa Coffee And Comprises A Food And Beverage Counter, Generous Seating Areas, Stores, Staff And Customers Wc Facilities And Staff Room/office. The Basement Provides Basic Storage. The First And Second Floors Are Accessed Separately From Broad St And Currently Not Occupied Although Forms Part Of The Tenants Demise. The Upper Floors Offer Future Potential For Residential Subject To The Necessary Planning Approval And Listed Building Consent. The Property Is Registered For Vat. It Is Anticipated That The Transaction Will Be Treated As A Transfer Of A Going Concern (togc). An Epc Is Available For This Property. The Rating Is B/29. Please Contact The Agent For Further Details. The Property Is Being Sold With The Benefit Of A Lease To Scoffs (cornwall) Limited For A Term Of 10 Years From 31st January 2025 On A Full Repairing And Insuring Basis Subject To A Schedule Of Condition At A Rent Of £25,000 Pa Reviewed On A 5 Yearly Basis. The Rent Is To Increase By A Max Of 2.5% Compounded Each Year Of The Lease Term. The Lease Is Guaranteed By Premier Coffee Limited. Scoffs (cornwall) Limited (13592153) Was Incorporated On 31st August 2021. Established In 2012 Scoffs Group Is The Largest Franchise Partner Of Costa Coffee In The Uk Trading From Over 100 Stores Nationwide Spanning From Cornwall To Norfolk And Approx. 1,100 Employees. Scoffs Group Ltd's Turnover From December 2023 Is £53.8m, Net Assets Of £3.7m And Cash Reserves Of £2.5m. (source: Pomanda.com) Guarantor Premier Coffee Limited (05156564). Founded In June 2004 With Its Largest Shareholder Being Scoffs Group Ltd. In December 2023 It Had A Turnover Of £22.4m, Net Assets Of £6.2m And 436 Employees. (source: Pomanda.com)

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About the Agent

Stratton Creber Commercial - Exeter

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Retail Unit

£325,000 Freehold

24 Broad Street, Launceston, PL15 8AE

Retail/Shop - Available
5,986 sq ft
556 sqm

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