Truro

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CENTRALLY LOCATED FREEHOLD INVESTMENT FOR SALE - THE LEATS

Freehold Price - Offers in excess of £100,000 plus VAT.

Two storey end of terrace building located in a central position with the City of Truro. The accommodation offers 25 covers arranged on both ground and first floors.

LOCATION:
Truro is the principal retail and administrative centre for Cornwall with a resident population of approximately 19,000 and an estimated retail catchment of 75,000. This population is increased considerably during the summer months due to the large influx of tourists.

SITUATION:
The premises, currently trading as “1652 Coffee and Donut House”, are located in a central position within the City, with access from both The Leats and Tonkins Ope which leads directly on to King Street. Nearby occupiers include Save The Children and the Nalders Court shopping arcade. The iconic Truro Cathedral faces Tonkins Ope.

DESCRIPTION:
The distinctive premises comprise a two storey end of terrace building. The well presented accommodation offers 25 covers arranged on both ground and first floors. A fully equipped kitchen is situated on the ground floor, with the first floor providing an attractive, naturally lit, seating area, useful storage and toilet facilities.

ACCOMMODATION: (All dimensions and areas are approximate)

Ground Floor
Sales/Seating - 16.85m² - (181 ft²)
Kitchen - 8.05m² - ( 87 ft²)

First Floor
Seating - 22.50m² - (242 ft²)
Store - 0.94m² - ( 10 ft²)
WC

BUSINESS:
The business has traded successfully for over 8 years also catering for outside events with a regular client base available.

LEASE DETAILS:
The property is let on a full repairing and insuring Lease dated 7th March 2017 for a term of 5 years. The passing rent is £10,000 plus VAT per annum. A rent review and a Tenant only break are incorporated on the third anniversary of the term. The break clause requires at least 6 months written notice. By personal agreement the tenant is paying £200 per week inclusive of VAT.

FREEHOLD:
Offers in excess of £100,000 plus VAT is sought for the freehold interest.

BUSINESS RATES:
Rateable Value £7,400 (2017 List)

For further information regarding rates payable and eligibility for small business relief contact Cornwall Council.
Tel: 0300 1234100

SERVICES:
We understand that the property is connected to mains gas, electricity, water and drainage. A fire alarm has been installed. 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 registered for VAT and VAT will therefore be payable on the sale price.

COSTS:
Each party to be responsible for their own legal costs.

VIEWING:
By appointment through Charterwood on (01872) 261216. Contact Stuart Sly or Jo Counter.

ENERGY EFFICIENCY RATING - 120


Certificate Reference Number: 9804-3093-0409-0500-3521
Report Reference Number: 0380-0540-0499-4923-5002

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