• 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:
    F

A substantial 4 storey building located centrally within Newquay; close to the prime retailing area of Bank Street. The premises include a ground floor retail unit which is currently let at an annual rental of £9,000 together with basement beauty salon which will be let at an annual rental of £5,000 per annum exclusive. There are 7 flats which have been sold off on 125 year leases and these pay a ground rent totalling £1,316 per annum.r

* Investment Opportunity
* Gross Income £15,309
* Close To Prime Retail Pitch
* Net Initial Yield 10.35% (After Purchase Costs Of
* Epc Rating - Band Fr

DESCRIPTION:
The ground floor comprises a retail unit which is let as a Hair Stylists together with a basement which has recently been refurbished and operates as a beauty salon. The upper floors include 7 flats which are owned separately with the owners paying the freeholder an annual ground rent.
ACCOMMODATION:
All areas and dimensions are approximate.

Ground Floor
Retail Area - Max Width 3.86m; Max Depth 8.13m Net Area 28.6 sq.m (308 sq.ft)
Kitchen 2.3 sq.m (25 sq.ft)
Rear Room 8.1 sq.m (87sq.ft)

Basement
Main Area - 17.9 sq.m (192 sq.ft)
Treatment Room 1 7.7 sq.m (82 sq.ft)
Treatment Room 2 4.6 sq.m (50 sq.ft)

Flats- not inspected as owned independently.
TENURE:
The premises are held freehold and are subject to the following occupations:-

Ground Floor - this is let to a local Hair Stylist under a 5 year lease from June 2016 at an annual rental of £9
LEGAL COSTS:
Each Party to bear their own.
LOCAL AUTHORITY:
Cornwall Council
General Enquiries
Planning
BUSINESS RATES:
We refer you to the valuation office
SERVICES:
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power:
South West Water:
Transco: VAT:
All the above prices/rentals are quoted exclusive of VAT
ENERGY PERFORMANCE CERTIFICATE:
The Energy Performance Rating for this property is within Band F.
CONTACT INFORMATION:
For further information or an appointment to view please contact either:-

Mike Nightingale

Jeremy Johnson
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

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] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold

The premises are located within Beachfield Avenue which connects Bank Street