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MULTI LET INVESTMENT opportunity comprising 8 FULLY LET studios and workshops as well as a residential flat all set within a single building, recognised for its artistic and architectural features. The property provides a GROSS INCOME OF £35,883 PA, reflecting an ATTRACTIVE NET INITIAL YIELD OF 7.07% allowing for purchaser's costs of 4.64%r
* For Sale
* Mixed Use Investment
* Characterful Historic Former Mill In Penryn
* Fully Let To A Range Of Creative Occupiers And Inc
* Epc Of Office Unit Is G (242)
* Residential Flat Has An Epc Of E (50)r
The shopping streets in Penryn are renowned for their local traders and niche producers
The property is a former watermill of granite construction and extends to 4 floors. The property is well known locally due to its connection with local metal work artist Michael Chaikin and the building still boasts many artistic features by the artist himself. During his ownership
The property now comprises a mixture of studio and work shop suites as well as spacious four bedroom flat with large open plan living area and a feature metal staircase leading to the bedrooms on the upper most floor. There is space for 2 to 3 cars to park outside the property.
SCHEDULE OF ACCOMODATION:
Main Studio - 672 sq ft (62.44 sq m)
Studio 1 - 115 sq ft (10.7 sq m)
Studio 2 - 121 sq ft (11.28 sq m)
Studio 3 - 183 sq ft (16.96 sq m)
Studio 4 - 228 sq ft (21.18 sq m)
Studio 5 - 234 sq ft (21.7 sq m)
Studio 6 - ????????
Studio 7 - 213 sq ft (19.79 sq m)
Garage - 386 sq ft (35.86 sq m)
Residential flat - not measured
TOTAL - 2
SCHEDULE OF INCOME:
Studio 1 - £1
The property is to be sold freehold
The property is available for sale at a price of £485
Each of the eight studios as well as the garage are independently rated and we understand all could benefit from small business rates relief. We refer you to the government website https://---.---.-------.---.--/view-my-valuation/search for further information.
Both parties to be responsible for their own legal costs in association with thisn transaction.
All the above prices/rentals are quoted exclusive of VAT
ENERGY PERFORMANCE CERTIFICATE:
Given the nature of the workshops
For further information or an appointment to view please contact:
Tom Smith 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
A town that has grown and developed significantly over the past 10 years