Retail Property For Sale Victoria Square, Truro, Cornwall, TR1 2RT

A prominent retail investment in a strong secondary trading pitch. The property comprises a total of approximately 16,397 sqft over 3 floors and has great strategic value as a City centre building backing onto Moorfield car park. The property is let to Mallet and Son Ltd on a 15 year lease, expiring December 2019 at a passing rent of £138,000 pax. We are instructed to seek offers of £1.5 million, reflecting a Net Initial Yield of 8.7% after purchaser's costs estimated at 5.8%.r

* Prominent Retail Investment In Good Secondary Loca
* Net Initial Yield 8.7%
* Long Established Tenant With Over 100 Years Histor
* Development Potential
* 16,397 Sqft Over Three Floors
* Epc Rating Cr

The city enjoys excellent transport links via the A390 and A39 to the A30 trunk road which leads westwards out of the county via Bodmin
SITUATION:
The property is located in a prominent corner position on Victoria Square
DESCRIPTION:
This property comprises two buildings
The property is accessed both from Victoria Square at the front
TENANCY:
The property is let in its entirety to Mallet and Son Limited on a 15 year lease from 12th December 2004
SCHEDULE OF ACCOMMODATION:
(All Areas and Measurements are approximate)
RENTAL ANALYSIS:
We calculate the passing rental of £138
COVENANT STATUS:
Mallets Home Hardware is one of the best know properties in Truro and has traded in this position for over 100 years. Mallet and Son Limited is now part of the Home Hardware Southwest Limited group
TENURE:
Freehold
INVESTMENT PROPOSAL:
We are instructed to seek offers of £1
VAT:
We understand that an option to tax has been made for this property and we anticipate the sale being treated as a TOGC.
LEGAL COSTS:
Each party to bear their own.
BUSINESS RATES:
BUSINESS RATES
We refer you to the valuation office website ---.---.---.-- or call -------------
SERVICES:
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: ------
South West Water: ------
Transco: ------EPC:
The Energy Performance Rating for this property is within Band C.
CONTACTS:
Peter Heather: tel. ------email. [email protected]
Will Attlee: tel. ------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