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Retail Property For Sale Albert Street, Penzance, TR18 2LR

  • Size:
    Undisclosed
  • Usage:
    A1, A2
  • Sale Type:
    For Sale
  • Rental Income:
    N/A
  • Property Type:
    Other
  • Auction:
    No
  • Development Opportunity:
    No
  • Investment Opportunity:
    No
  • Tenanted:
    No
  • Energy Rating:
    N/A

A freehold building comprising ground floor retail premises with two flats above which pay a ground rent of £100 per annum each. The ground floor is let under a six year proportional full repairing and insuring lease at an annual rental of £7000 from August 2020. The premises are situated adjacent to a pedestrian crossing on the main route into the prime shopping area of Market Jew Street. Wharfside Shopping Centre, Penzance Railway Station and The Wharfside Public Car Park are also in close proximity.r

* Freehold Investment Producing £7200.
* Shop Let On 6 Year Lease From Aug 2020
* Yield 8.90%
* Located Close To Market Jew Street & Train/Bus St
* Energy Performance Asset Rating D(97)r

DESCRIPTION/LOCATION:
A three storey building comprising ground floor retail unit with two flats above located within a small parade situated close to Penzance Railway Station and the principal retailing area of Market Jew Street.
ACCOMMODATION:
All areas and dimensions are approximate.
Ground Floor
Net Retail Area 28.1 sq m (303 sq ft)
Store 6.42 sq m (69 sq ft)
Kitchen 6.16 sq.m (66 sq ft)
WC
First and Second Floor Flats - Each 1 bedroomed and owned separately.
TENURE:
Freehold - subject to and with the benefit of the leases below.

Ground floor - This is let under a new six year lease from August 2020 at an annual rental of £7000 on proportional full repairing and insuring terms via a service charge. There is a rent review and tenant break option on the second anniversary of the term.

First Floor - This is held under a 999 year lease from 01/01/19 at an annual rental of £100. The tenant contributes towards external repairs via a service charge.

Second Floor - This is held under a 999 year lease from 01/01/19 at an annual rental of £100. The tenant contributes towards external repairs via a service charge.
LEGAL COSTS:
Each party to bear their own.
LOCAL AUTHORITY:
Cornwall Council
General Enquiries -------------
Planning -------------
---.--------.---.--
VAT:
All the above prices/rentals are quoted exclusive of VAT
ENERGY PERFORMANCE CERTIFICATE:
The Energy Performance Rating for this property is included within Band D (97).
CONTACT INFORMATION:
For further information or an appointment to view please contact either:-
Mike Nightingale on ------or via email [email protected] or
Thomas Hewitt on ------or via email [email protected]
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] No responsibility is taken for expenses incurred should the property be sold

 

Contact Miller Commercial

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