Investment Consideration:
Gross Initial Yield: 10.60%
Rental Income: £22,260 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop with 2 self-contained residential flats (1 x 1-bed and 1 x 2 bed)
Situated within short walk from Tesco Superstore and within 0.4 miles from Camborne Train Station.
Property Description:
Mid-terrace building comprising ground floor commercial unit t/a barber shop, 1-bedroom residential flat at rear ground floor and 2-bedroom maisonette at first floor, providing the following accommodation and dimensions:
Ground Floor: Retail Shop t/a Barbers 43 sq m (463 sq ft)
Rear Ground Floor: Flat 74B 34 sq m (366 sq ft)
1 Bedroom, Kitchen/Living Room, Shower
First Floor: Flat 74A 67 sq m (721 sq ft)
2 Bedrooms, Kitchen/Dining Room, Living Room, Shower
Tenancy:
The retail shop is at present holding over on an FRI lease at a current rent of £6,000 p.a.
Flat 74A is at present let on AST to an Individual for a term of 12 Months from 18th January 2024 at a current rent of £8,760 p.a. Deposit held of £625.
Flat 74B is at present let on AST to an Individual for a term of 12 Months from 14th December 2023 at a current rent of £7,500 p.a. Deposit held of £650.
Both residential tenants have been in occupation for more than 1 year and currently on renewal AST.
Location:
Camborne is a town in Cornwall, England, United Kingdom. The property is situated on the main high street, within short walk from Tesco Superstore and within 0.4 miles from Camborne Train Station. Retail occupiers nearby include Poundstretcher, Peacocks, WH Smith, Superdrug, Costa, Specsavers, TUI, The Works, Santander, Halifax, Iceland and more.
