Residential Property For Sale New Portreath Road, Redruth, Cornwall, TR16 4QL

The property is located 3 miles from Redruth and 2 miles from Portreath and is easily accessible from the A30. It comprises a parcel of land 0.39 acres which includes two buildings. The first larger building currently operates as a Vintage Home and Fashion Centre with accompanying Tea Rooms. The second building is currently used as storage and workshop facilities. Both premises are let to the same occupiers on full repairing and insuring leases for a term of six years from July 2014 at a combined passing rental of £14,000. Offers are sought over £130,000 for the premises which represents a return of 10.61% after assumed purchase costs of 1.5%. VAT is not payable on the purchase which should be below the stamp duty threshold.r

* Commercial Investment Opportunity
* Producing £14,000 Per Annum
* Close To A30
* Parking For Min. 20 Cars
* Energy Performance Asset Rating (E)r

PROPERTY:
The premises comprise a site of approximately 0.39 acre which includes two buildings of concrete block construction. They are currently traded as a Vintage Home and Fashion Centre with Tea Room. The larger building is used for retail purposes whereas the smaller building is utilised as ancillary storage and workshop facilities. The premises benefit from kitchen
SCHEDULE OF ACCOMMODATION:
All areas and measurements approximate:
Building 1
Five Retail Areas have been created totalling 2253 sq.ft (209.3 sq.m). These premises include two wc's and a kitchen which serves the cafe.
Building 2
A workshop/storage building which includes a kitchen and wc totals 97.6 sq.m (1050 sq.ft)
TENURE/LEASE TERMS:
The premises are offered on a freehold basis subject to and with the benefit of the existing leases.
The buildings are let on two leases to the same occupier. They are let under 6 year leases from July 2014 on full repairing and insuring terms. The rental for Building 1 is £9
PROPOSAL:
Offers are sought in excess of £130
LEGAL COSTS:
Each Party to bear their own.
SERVICES:
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: ------
South West Water: ------
Transco: ------LOCAL AUTHORITY:
Cornwall Council
General Enquiries -------------
Planning -------------
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ENERGY PERFORMANCE CERTIFICATE:
The Energy Performance Rating for both buildings is within Band E.
BUSINESS RATES:
We refer you to the valuation office website ---.---.---.-- or call -------------
CONTACT INFORMATION:
For further information or an appointment to view please contact either:-
Mike Nightingale on ------or via email [email protected] or
Peter Heather 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