Residential Property For Sale Market Jew Street, Penzance, Cornwall, TR18 2HN

A well located development/investment opportunity comprising two interconnecting properties. The ground floor is let to Warrens Bakery Ltd, the two bedroom flat is let via an AST. The majority of the upper floors and external store are well suited to conversion to residential dwellings (STC*).The upper floors provide an excellent vista overlooking Mounts Bay.r

* For Sale
* Investment/Development Opportunity
* Total 5,737 Sq Ft (533 Sq M)
* Current Income £34,000pa
* Blended Yield Of 8.34%*
* Epc's: Shop & Uppers (D94), Flat (G1)r

PREMISES:
10/11 Market Jew Street is formed of two separate and architecturally distinct properties which interconnect at ground and first floor level. Number 10 is five storeys high with a flat roof and number 11 is three storeys with a pitched roof.
The ground floor of both is occupied by Warrens Bakery who operate both a take away and eat in service. The first floor of both was previously a restaurant seating area which is now vacant. The second floor of number 11 is a two bedroom flat which is occupied via an Assured Shorthold Tenancy. The remainder of the upper floors of number 10 are vacant.
In addition to the main building
LEASE TERMS - COMMERCIAL:
Warrens Bakery Ltd
Demise: Ground floor shop
TENANCY - RESIDENTIAL:
Two-bedroom flat
Via an assured shorthold tenancy.
SCHEDULE OF ACCOMMODATION:
All measurements are approximate and on a GIA basis unless otherwise stated.
Ground Floor - 1948 sqft (180.9 sqm)
1st Floor 1653 sqft (153.5 sqm)
2nd Floor 679 sqft (63 sqm)
3rd Floor 530 sqft (49.2 sqm)
4th Floor 432 sqft (40.1 sqm)
5th Floor 495 sqft (45.9 sqm)
Total 5737 sqft (532.9 sqm)

Additional outbuilding.
We have not been able to internally measure or inspect this building
INVESTMENT:
Annual income:
Shop £28
DEVELOPMENT:
*We consider the upper floors are well suited for conversion to residential accommodation subject to the relevant consents/permitted development rights being confirmed/obtained.
The property is located within the Penzance conservation area.
PURCHASERS PACK:
Miller Commercial hold a pack of information which can be supplied via request
LEGAL COSTS:
Each party to bear their own costs on the basis of an unconditional sale.
BUSINESS RATES AND COUNCIL TAX:
We refer you to the government website which shows that the current rateable value is £37
LOCAL AUTHORITY:
Cornwall Council
General Enquiries
Planning
VAT:
All the above prices/rentals are quoted exclusive of VAT.
EPC'S:
The main building has an EPC rating of D (94).
The flat has an EPC rating of G (1)
CONTACT INFORMATION:
For further information or an appointment to view please contact either:
Thomas Hewitt or via email or
Will Duckworth or via email
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