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Helston - Freehold Retail and Residential Investment

For sale: £154,950.00|1,774 Sq Ft|Retail, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALE£154,950.00
SIZE1,774 Sq Ft
ADDRESS7 Meneage Street, Helston, Cornwall, TR13 8AA
TYPERetail, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th September 2021

Description

Investment Consideration:
Gross Initial Yield: 8.02%
Rental Income: £12,420 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail shop and 2-bed flat at first and second floor
Total area size of 165 sq m (1,774 sq ft)
Nearby occupiers include Costa Coffee, WH Smith, restaurant/takeaway`s, jewellers and pet shop, amongst others.

Property Description:
The property comprises ground floor retail shop and 2-bedroom flat at first and second floor with the following accommodation and dimensions:
Ground Floor: Shop 72 sq m (776 sq ft)
Retail Area, Kitchenette, Store, WC
First/Second Floor: Flat 93 sq m (998 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom, WC

Tenancy:
The ground floor shop is at present let to Vapes Direct Limited for a term of 5 years from September 2020 at a current rent of £6,240 per annum and the lease contains full repairing and insuring covenants. Rent increases to £6,480 p.a. in September 2022. Tenant option to determine in September 2023. Tenant in occupation since 2016. Lease within Landlord and Tenant 1954 Act.
The first/second floor flat is at present let on AST to an Individual for a term of 18 months from 16th March 2020 at a current rent of £6,180 per annum. Deposit held of £550.

Location:
Helston is a town and civil parish on the south coast of Cornwall and is situated at the northern end of the Lizard Peninsula. The town is well served by public transport with bus stops located nearby. The nearest railway station is Camborne, located approximately 8 miles away. The area is well serviced by A roads with the A394 being within easy reach of the property. This links to the main A30 trunk road linking Cornwall to the M5. The Cathedral City of Truro is 20 miles away and Newquay Airport is 32 miles away. The property is situated on Meneage Street which is one of the two main shopping streets in the larger market town of Helston. Nearby occupiers include Costa Coffee, WH Smith, restaurant/takeaway`s, jewellers and pet shop, amongst other local traders.

Location

marker
Location: 7 Meneage Street, Helston, Cornwall, TR13 8AA

Camborne (7.7 miles)

Hayle (8.7 miles)

Penryn (8.7 miles)

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