Acquired
Penzance – Domino`s Pizza
93 Market Jew Street, Penzance, Cornwall TR18 2LGFreehold Takeaway Investment
Tenure
Freehold
Lease Term
20 Years
Years Left on Lease
6y 3m
Area
1,765 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises end-of-terrace two storey takeaway property with rear yard
- Future residential development potential of the upper floor, subject to planning
- Let to DP Realty Ltd (Domino`s) until April 2031, no breaks. Rent review in April 2026
- Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, RNLI Shop & Iceland amongst others.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
Comprises two storey takeaway property t/a Domino`s pizza at ground floor with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 119 sq m (1,280 sq ft)
Open plan takeaway, kitchen, storage
First Floor: 45 sq m (485 sq ft)
Ancillary accommodation
Total area size: 164 sq m (1,765 sq ft)
Ground Floor: 119 sq m (1,280 sq ft)
Open plan takeaway, kitchen, storage
First Floor: 45 sq m (485 sq ft)
Ancillary accommodation
Total area size: 164 sq m (1,765 sq ft)
Tenancy Description
The property is at present let to DP Realty Limited* t/a Domino`s Pizza for a term of 20 Years years from 15th April 2011 at a current rent of £24,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in April 2026 open market upward only. No breaks.
* - Domino's have over 1,200 stores across the UK & Ireland. For the year ended December 2022, DP Realty Ltd reported a turnover of £2.8M, a pre-tax profit of £1.3M, shareholders funds of £5.7M.
* - Domino's have over 1,200 stores across the UK & Ireland. For the year ended December 2022, DP Realty Ltd reported a turnover of £2.8M, a pre-tax profit of £1.3M, shareholders funds of £5.7M.
Tenancies & Accommodation
Location Description
Penzance is a market town and a well established tourist centre on the Cornish Peninsular. The town is bordered to the north and east by the A30, a key arterial route through the South-West of England providing direct access to the M5 Motorway and A303. Penzance rail station is within 265 metres of the property providing direct services to London Paddington, Bristol and Exeter. The property is situated on the south side of Market Jew Street, at its junction with New Town Lane. Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, RNLI Shop & Iceland amongst others.
