Investment Consideration:
Gross Initial Yield: 8.24%
Rental Income: £7,420 p.a.
VAT is NOT applicable to this property
Property comprises 3 Ground Floor Shops (2 Shops sold off) with separate front access to a Self-Contained Maisonette and 3 Self-Contained Flats on the upper floors (sold off).
Roof repair works carried out in 2020
Nearby occupiers include Costcutter, WHSmith, Santander, Shoe Zone and a Lloyds Bank.
Property Description:
A mid terrace building comprising 3 Ground Floor Shops (2 Shops sold off) with separate front access to a Self-Contained Maisonette and 3 Self-Contained Flats on the upper floors (sold off).
Tenancy:
The shop at No. 22a is at present let to an Individual for a term of 5 Years from 5th September 2022 at a current rent of £7,020 p.a. Open market rent review in September 2025. No breaks. Deposit held of £1,140.
The 4 residential flats above produce total ground rent of £400 p.a. (£100 each). The other two shops are sold off on long lease at peppercorn.
Location:
Located at the junction with Church Street in this town centre position, amongst such multiples as Costcutter, W H Smith, Your Move, Santander, Shoe Zone and a Lloyds Bank. Camborne lies midway between Newquay and Penzance on the A30 some 3 miles west of Redruth and benefits from good transport links via Camborne Railway Station.
