Royal Institution of Chartered Surveyors

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St Ives

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GROUND FLOOR RETAIL SHOP FOR SALE / TO LET - HIGH STREET, ST IVES


Freehold sale in the region of 350,000. Consideration to a new lease would be considered at 25,000

Ref: 1742
  

Ground floor retail unit situated in High Street with large glazed display windows and entrance door leading to the front sales area. Storage room and WC to the rear.

LOCATION:
St Ives is one of the most characterful and busiest resorts in the south west. The quaint harbour town is extremely popular during the summer season but also benefits from tourist trade throughout the year due largely to the Tate Gallery and its links with the artist community. The town is highly sought after by National, Regional and Local retailers and there are numerous respected restaurants, bistros and cafes.

SITUATION:
The property is situated in High Street, in close proximity to Fore Street, historically the prime trading location, and a short distance from the harbour front. High Street has, more recently, been an extension to Fore Street with a number of new boutique retailers and cafes interspersed with a few nationals including Boots.

DESCRIPTION:
The property comprises of the ground floor retail unit with large glazed display windows and entrance door leading to the front sales area. Storage room to the rear and WC. The property is subject to a long lease of the upper floor residential accommodation at a peppercorn rent.

ACCOMMODATION: (All dimensions and areas are approximate)

Shop frontage 6.3 m
Shop depth (max) 8.9 m
Total sales area 56.0 m (602 ft)
Prep area 13.9 m (149 ft)
Store room 12.0 m (129 ft)
Store room 12.5 m (134 ft)
Toilet facilities

LEASE TERMS
The landlord would give consideration to a new lease on flexible terms. Indicative terms would be for a nine-year lease, three-year rent reviews with the tenant contributing a fair proportion to the cost of external maintenance and insurance. The rent would be 25,000 per annum.

SALE PRICE:
Consideration would be given to selling the freehold of the entire building in the region of 350,000. This would be for the ground floor shop which could be occupied or let out an an investment. There would be no right to occupation of the upper floor residential accommodation which is subject to a long lease at a peppercorn rent but with a contribution to external maintenance costs.

BUSINESS RATES:
Rateable Value 20,250 (2023 List)

For further information regarding rates payable and eligibility for small business relief contact Cornwall Council.
Tel: 0300 1234171.

SERVICES:
We understand the property is connected to mains electricity, water and drainage. However, we have not tested the services connected to the premises and the ingoing tenant should carry out their own inspections.

VAT:
We understand that the property is not VAT registered.

PLANNING:
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.

MONEY LAUNDERING REGULATIONS:
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.

LEGAL COSTS:
Each party will be responsible for their own legal fees.

VIEWING:
Viewing arrangements may be made through sole agents Charterwood on (01872) 261216.

Contact Chris Waters chris@charterwood.com
or Rosie Brenton rosie@charterwood.com

ENERGY EFFICIENCY RATING - D
THIS PROPERTY HAS A RATING OF 78
Certificate Reference Number: 9396-3051-0316-0500-5325
Report Reference Number: 0530-0541-9396-6521-3006

    Print These Details     All St Ives Properties     Back to Listing





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www.charterwood.com
17a River Street - Truro - Cornwall - UK - TR1 2SQ
Tel: 01872 261216
Fax: 01872 261359