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The premises comprise a property which will be sold as a part investment which includes part of the ground floor and basement as a retail unit, currently let to a local music store, together with a separately accessed (from Adelaide Street) two bedroomed maisonette with views of St Michael's Mount. The premises benefit from planning consent to re-configure the space to create a three storey house with study and WC at ground floor level together with lounge and kitchen/diner at first floor level and three bedrooms and bathroom above. The retail unit will be unaffected. The retail unit and basement store is let under a 10 year lease from August 2015 at initial rental of £6,000 per annum and is subject to a rent review in July 2020.r
* Mixed Commercial/Residential Investment
* Town Centre Location
* Ground Floor Lease Has 8 Years Unexpired
* 2 Bed First Floor Flat With Planning Consent To Re
* Energy Performance Asset Rating - Fr
An end of terrace/corner property comprising a ground floor retail unit with basement storage together with residential accommodation above. The upper parts are currently un-occupied pending refurbishment and reconfiguration. Planning consent exists for the creation of a 3 bedroomed dwelling which would incorporate ground floor study/additional bedroom together with WC
Alternatively the premises could remain as configured.
The building benefits from views down Albert Street across Penzance Bay towards St Michael's Mount.
Ground Floor- Net retail area 17.4 sq m (187 sq ft)
Basement - 12.3 sq m (132 sq ft) plus WC and small kitchenette
Entrance to lobby with staircase to first floor
Planning consent exists under PA 15/07950 for change of use of the ground floor and first floor from office to residential and reinstatement of ground floor window on the west elevation retention of shop use ground floor and basement of 42. Works have commenced in relation to the ground floor through separating part of the commercial space. The works to the rear part (now known as 61 Adelaide Street) have yet to be concluded. Detailed plans are available upon request.
The premises are available on a freehold basis however the ground floor and lower ground floor are currently owned under a Self Invested Pension Plan on a long leasehold basis. The long leasehold interest could be surrendered prior to disposal; alternatively the premises could be sold off in the separate parts should the purchaser wish to include the commercial element within a personal pension.
The ground floor and basement are let under a 10 year lease from August 2015 at an annual rental of £6
Each party to bear their own.
General Enquiries -------------
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: ------
South West Water: ------
If you require advice regarding the Financing of a Business
ENERGY PERFORMANCE CERTIFICATE:
The Non Domestic Energy Performance Rating for the ground floor of the property is within Band F. An energy performance certificate has been applied for in respect of the residential element.
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] or
Joint Agents - Marshall's Estate Agents
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
The premises are situated in a prominent position within Market Jew Street; opposite Albert Street and at the junction with Adelaide Street. It is configured such that the access to the residential upper parts are located on Adelaide Street itself.
The premises are situated within close proximity of Penzance railway station