Ground Floor Retail Investment
Available on a sale and leaseback arrangement with Countrywide Plc
Guide price of £150,000 reflects an attractive NIY of 7.2%
The property comprises a ground floor retail unit of 365 sq ft currently being used as an estate agents. There is residential accommodation to the upper floors which has previously been sold off.
The property is located 11 miles south of the city of Truro in the popular seaside town of St Mawes on Cornwall's south coast. Falmouth Docks is situated 4 miles across the harbour, with a 25 minute ferry journey connecting the two towns.
Located on the seafront next to St Mawes pier, the area is home to a number of local occupiers, holiday apartments, restaurant and cafe operators with high street names such as The Co-operative Food, Barclays and Fatface also in occupation.
The property is available on a sale and leaseback arrangement to Countrywide Plc. The lease will be for a term of 10 years with a break in the fifth year and at a rent of £11,000 per annum. Please consult the legal pack for the draft lease.
The Butchers Shop at the rear of the property is let for a term of 10 years from June 2011 and at a rent of £3,750 per annum. There is an outstanding rent review from June 2016. Please consult the legal pack for more information.
Cornwall Council - www.cornwall.gov.uk
The property is elected for VAT
Brontie Peacock Call me 020 3824 4706