10 St. Nicholas Street, Truro, Cornwall, TR1

LOCATION

The property occupies a prominent position in the heart of St Nicholas Street, an ever popular retailing location in the city centre of Truro. The cathedral city of Truro is the commercial centre of Cornwall with a district population in the order of 85,000 persons and a retail catchment of 250,000 persons.

The subject property is situated in between Krispy Kreme and Fatface with other immediate occupiers including Greggs, Card Factory, Costa Coffee, Starbucks and Natwest.

DESCRIPTION

The property comprises a mid terraced, three storey building with ground floor sales and first floor ancillary accommodation.

ACCOMMODATION

Ground Floor 116 sq m (1,249 sq ft)
Store 9 sq m (97 sq ft)

First Floor storage 111 sq m (1,195 sq ft)

Second Floor storage 26 sq m (280 sq ft)

TENANCIES

The property is let in its entirety to Vision Express (UK) Limited on a five year lease commencing 8 January 2021 at a rent of £46,500. The rent equates to approximately £55 per sq ft ITZA which is in line with post Covid lettings. The lease was subject to a three year break clause which was not actioned.

We understand the neighbouring property (9 St Nicholas Street) has been let to Krispy Kreme Limited on a new 10 year lease with a tenant break at year five, commencing June 2024.

PRICE

We are instructed to seek offers in excess of £550,000, subject to contract and exclusive of VAT.