10 St Nicholas Street, Truro, Cornwall, TR1 2RL

**FOR SALE PRIME RETAIL INVESTMENT**

::: Single let property to excellent covenant
::: Located in a prime retail pitch
::: Rebased rent of £46,500 per annum
::: Tenant in occupation 15+ years
::: Freehold - £550,000 reflecting NIY 8.05%

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

    
            Area
            Size (sq m)
            Size (sq ft)
        
            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

Area	Size (sq m)	Size (sq ft)
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.