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AGENT'S DETAILS


Penzance – Freehold Shop and Residential Investment

For sale: £265,000.00|2178 Sq Ft|Retail, Residential, Flat, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£265,000.00
SIZE2178 Sq Ft
ADDRESS53 Causewayhead, Penzance, Cornwall TR18 2SS
TYPERetail, Residential, Flat, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON2nd June 2020

DESCRIPTION

Investment Consideration:
An attractive three-storey building comprising ground floor retail trading as art gallery and upper floors provide three self-contained flats, one being sold off on a long lease.
Situated in one of the principal pedestrian shopping thoroughfares of Penzance.
VAT is NOT applicable to this property.
Nearby occupiers include T Mobile, Subway, HSBC, amongst other independent traders.

Property Description:
An attractive Three storey building. The property currently comprises commercial premises to the ground floor running as a high-end Art Gallery while the upper floors provide three self-contained Flats, one being sold off on a long lease.

The property provides the following accommodation and dimensions:
No. 53 Ground Floor Retail: 93.40 sq m (1,005 sq ft)
No. 53A First Floor Flat: 53.00 sq m (570 sq ft)
No. 53C First Floor Flat: 56.00 sq m (603 sq ft)
No. 53B Second Floor Flat: Sold off on long leasehold

Tenancy:
The shop is at present let to R J Clemens t/a Art Gallery for a term of 7 years from 20th September 2017 at a current rent of £12,500 per annum and the lease contains full repairing and insuring covenants. The first floor residential flat (No. 53A) is at present let on an AST to an individual for a term of 12 months from 1st April 2018 (Holding Over) at a current rent of £5,940 per annum. Rent deposit held of £595. The first floor residential flat (No. 53C) is at present let on an AST to an individual for a term of 12 months from 1st April 2018 (Holding Over) at a current rent of £4,740 per annum. Rent deposit held of £395. The second floor flat is sold off on long leasehold to an individual for a term of 99 years from the 1st July 2016 at a current ground rent of £100 per annum.

Location:
Causewayhead is a hamlet in the civil parish of Holme Low in Cumbria, England about 1-mile (1.6 km) south-east of Silloth. The B5302 road runs through the hamlet on its way to Abbeytown and Wigton. The property is situated in one of the principal pedestrian shopping thoroughfares of Penzance.

LOCATION

Location: 53 Causewayhead, Penzance, Cornwall TR18 2SS

Penzance (0.3 miles)

St Erth (5.4 miles)

Lelant Saltings (6.2 miles)

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