Vendor: Receiver

Freehold, town centre commercial investment (4,057 sq ft, source EPC), currently let at £40,000 pa. Development potential to upper floors, subject to planning

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Description/Location

The property is Grade II listed and arranged over three floors comprising large ground and first floor retail space with ancillary storage on the third floor. Separate access to the upper floors which would assist conversion of the upper parts to residential, subject to planning. The property is currently let to Trespass Europe Ltd on a 5 year lease commencing 3rd September 2018, at £40,000 per annum, paid quarterly. The tenant is currently holding over pending an outstanding rent review, to be conducted by the new owner. We understand the tenant wishes to remain, subject to signing a new lease on favourable terms.

Tenure

Freehold
EPC rating C

Local Authority

Cornwall Council 0300 1234 100

Viewing

Please contact Charles Darrow on 01637 822822.

Accommodation

Ground floor: 1,358 sq. ft. First floor: 1,028 sq. ft. Second floor: 1,127 sq. ft.

Rent

Current rent £40,000 per annum

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.