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Camborne – Freehold Retail and Residential Ground Rent Investment

For sale: £90,000.00|850 Sq Ft|Residential, General Retail, Retail - High Street, Retail

Property details

FOR SALE£90,000.00
SIZE850 Sq Ft
ADDRESS20/22/22A Commercial Street, Camborne, Cornwall, TR14 8JY
TYPEResidential, General Retail, Retail - High Street, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON22nd March 2022

Description

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.

Location

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Location: 20/22/22A Commercial Street, Camborne, Cornwall, TR14 8JY

Camborne (0.2 miles)

Redruth (3.6 miles)

Hayle (5.6 miles)

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