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INVESTMENT FOR SALE - 35 FORE STREET, BODMIN PL31 2JQ
£950,000 is sought for the freehold interest, subject to the existing leases and tenancies. |
Two prime retail shops investments with excellent covenants tenants situated along Fore Street within the prime retailing section of Bodmin.
SITUATION:
The property lies along Fore Street within the prime retailing section of the town in close proximity to the town’s car parks. Nearby occupiers include Boots Opticians, Superdrug, Holland and Barrett and Iceland.
DESCRIPTION:
The property comprises of two prime retail shop investments with excellent covenant tenants, Costa (franchisee) and British Red Cross along with one side retail unit which is currently vacant (fronting onto the alleyway), and 7 self-contained flats, 4 on the first floor, 2 on the second floor and 1 newly converted one in the alleyway adjacent to the side retail unit to the rear of 33 Fore Street. The property also has basement/storage area which can be let.
SALE PRICE:
£950,000 is sought for the freehold interest subject to the existing leases and tenancies.
LEASE DETAILS:
Ground floor retail unit, shop 1, is let to The British Red Cross under a full repairing and insuring lease at a rent of £13,500 per annum. The tenancy is for a term of 10 years commencing 19th September 2014 and includes a rent review in the 5th year. There is a Tenant only break option in the 5th year.
Ground floor retail unit, shop 2 is let to Kernow Koffi Limited (Costa) under a full repairing and insuring lease at a rent of £15,000 per annum. The tenancy is for a term of 15 years commencing 7th September 2014 and includes a rent review in the 5th year. The rent to be increased to the higher of the market rent or £17,500
The 7 residential flats are all let under Assured Shorthold Tenancies and produce a monthly rent of £2988.84.
ACCOMMODATION: (all dimensions and areas are approximate)
Main Accommodation
Shop 1
Internal width (max) 5.30m
Shop depth 26.70m
Sales area 136.06m² (1464 ft²)
Store 3.45m² ( 37 ft²)
Shop 2
Internal width (max) 3.70m
Shop depth 25.60m
Sales area 94.95m² (1022 ft²)
Office 7.50m² ( 81 ft²)
Secondary Unit
Unit 1
Sales 31.19m² (336 ft²)
Total stores 16.58m² (178 ft²)
First Floor
Flat 1
Comprises hallway, lounge with galley kitchen, shower/WC, bedroom 42.5m² (458ft²)
Flat 2
Comprises hallway, kitchen/lounge, bedroom with ensuite shower/WC 35.5m² (382ft²)
Flat 3
Studio comprising lounge/bedroom, kitchen, shower/WC 48.8m² (526ft²)
Flat 4
Studio flat comprising living/bedroom with galley kitchen, ensuite shower/WC 28.8m² (310ft²)
Second Floor
Flat 5
Comprises hallway, living room with galley kitchen, shower/WC, bedroom 34.3m² (369ft²)
Flat 6
Comprises hallway, living room with galley kitchen, shower/WC, bedroom 49.1m² (528ft²)
Two Bedroomed Maisonette to rear of 33 Fore Street
Comprises lounge, kitchen, two bedrooms and shower/WC 65m² (699ft²)
Lower Ground Floor
Basement/stores ranging from 9.54m² (103ft²) to 24.64m² (265ft²).
RATES:
Rateable value - (2017 List)
Shop 1 – £13,250
Shop 2 - £14,000
Unit 1 - £3,350
VAT:
We understand the property is not registered for VAT.
EPC:
Shop 1
This property has a rating of 52 (Band C)
Certificate Reference 0990-5940-0350-7190-2000
Shop 2
This property has a rating of 51 (Band C)
Certificate Reference 0110-0430-5779-2899-0002
PLANNING:
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.
SERVICES:
We have not tested the services connected to the premises and the ingoing purchaser should carry out their own inspection.
LEGAL COSTS:
Each party to be responsible for their own legal fees.
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.
VIEWING:
By appointment through sole agent Charterwood on (01872) 261216.
Contact Chris Waters or Jo Counter.
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