Fore Street & 47-49 Aylmer Square, St Austell, Cornwall, PL25
Office for sale in Cornwall
A rare opportunity to acquire a substantial towncentre retail parade in the heart of St Austell, let to a trio of nationally recognised highstreet retailers: Argos, H. Samuel and Specsavers. Producing a combined income of £81,952 p.a.x., the freehold is available at £695,000, offering an exceptionally attractive blended yield and strong tenant covenants.
The property comprises a significant retail parade with large dual frontages and three strong national tenants. Additional parts of the wider block are occupied by Boots and WHSmith, each held on long underlying ground leases (and not incomeproducing here).
Tenancy Schedule47/49 Aylmer Square ArgosArea: 838.2 sq m (9,022 sq ft)Lease: FRI to Argos LtdExpiry: 7 August 2028Passing Rent: £49,000 p.a.x.Covenant: Argos turnover c. £4.2bn, strong standalone demand in St Austell with no Sainsburys integration locally.
37 Fore Street H. Samuel (Signet Trading Ltd)Area:Ground: 1,188 sq ftBasement: 218 sq ftFirst: 337 sq ftLease: FRI to Signet Trading Ltd (t/a H. Samuel)Expiry: 10 April 2028Break: April 2026Passing Rent: £14,100 p.a.x.
39 Fore Street Specsavers Optical Superstores LtdArea:Ground: 1,240 sq ftLower Ground: 131 sq ftFirst: 347 sq ftLease: FRI to SpecsaversExpiry: 28 September 2026Break: April 2026Passing Rent: £18,850 p.a.x.Covenant: Specsavers turnover £3.42bn (FY 2023), operating c. 1,000 UK stores.
Additional Long Ground Rents (Not IncomeProducing in the Sale)1 Aylmer Square WHSmith: 99year lease to 2079 at £1 p.a.2931 Fore Street Boots: 99year lease to 3010 at £1 p.a.
Financial SummaryTotal Passing Rent: £81,952 p.a.x.Price: £695,000 freehold
St Austell is one of Cornwalls largest towns and a major retail destination, located 13 miles northeast of Truro and just 3 miles from the worldfamous Eden Project. The property occupies a prime position on the south side of Fore Street with further frontage onto Aylmer Square, surrounded by major national retailers including Sports Direct, GAME, Iceland, Poundland, Vodafone, EE, and the White River Place Shopping Centre.
We would urge you to register a couple of days in advance as we cannot guarantee you will be registered on time to bid if we only receive your documents on the day of the auction.
It is imperative that you register to bid in the name you wish the property to be registered with Land Registry on completion. If buying in a company name, please ensure to detail the company name on the registration. Once the property is exchanged, the vendor could decline to accept any change.
Buyers should review the legal pack with their solicitor and ensure they do their own due diligence before deciding to purchase.
All property offered at auction is under an unconditional contract, requiring the successful buyer to pay a 10% non-refundable deposit and complete within the terms of the contract, which will normally be 14 or 28 days. For these reasons, it is suitable for cash buyers only.
Property Ref: WAD260064
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