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PRIME INVESTMENT FOR SALE - 3 TRELOWARREN STREET, CAMBORNE, CORNWALL, TR14 8AD
£240,000 is sought for the freehold interest subject to the existing leases and licences. |
Ground floor retail shop premises with a large self-contained flat on the first and second floor and a large car parking area at the rear situated on Trelowarren Street, the main retail thoroughfare within Camborne.
LOCATION:
Camborne lies in west Cornwall in the former district of Kerrier and, together with Redruth, forms the most densely populated part of the county with a combined population of approximately 50,000 persons. Camborne is a relatively busy retail centre with two edge of town food stores, Tesco and Aldi and a reasonable selection of multiple and local independent retailers. One of Cornwall Council’s main offices and one of west Cornwall Magistrate’s Courts are located within the town, together with a number of private professional firms.
SITUATION:
The property is situated on Trelowarren Street, the main retail thoroughfare within Camborne. Nearby retailers include Superdrug, W H Smith, Boots and Specsavers. A public pay and display car park is located on Rosewarne Road which is a short distance from the premises. Short term parking is also available on Trelowarren Street.
DESCRIPTION:
The property comprises of a retail shop premises on the ground floor with a large self-contained flat on the first and second floor and a large car parking area at the rear. The shop has a large glazed frontage window together with a large open plan sales area. A door at the rear of the main sales area leads to a storage room and office. The flat can be accessed via a door on the left hand side of the sales area within the shop or at an entrance at the rear of the premises. The flat consists of a large lounge/dining area, kitchen and bathroom on the first floor and 3 large bedrooms and another smaller lounge area on the second floor. The car parking area at the rear of the premises is accessed via Vyvyan Street and spaces are let to individuals in neighbouring properties and businesses under licences.
SALE PRICE:
£240,000 is sought for the freehold interest subject to the existing leases and licences.
LEASE DETAILS:
The retail premises and flat is let under a full repairing and insuring lease at a rent of £22,500 per annum. The tenancy is for a term of 10 years commencing 18th November 2014 and is subject to a rent review on 18th November 2019. The repairing covenant is limited by a pictorial Schedule of Condition.
The lease contains a tenant's break option on 18th November 2019 exercisable on providing not less than 6 months written notice.
The car park currently has 15 permits issued which generates an income of £750 per annum.
ACCOMMODATION: (all dimensions and areas are approximate)
Main Accommodation
Shop
Internal width (max) 7.25m
Shop depth 2.60m
Sales area 176.6m² (1,900ft²)
First Floor
Lounge 6.78m x 5.75m (max) 36.24m²
Kitchen 2.94m x 4.57m (max) 12.24m²
Bathroom 2.52m x 2.95m 7.43m²
Second Floor
Bedroom 1 3.07m x 4.56m 14.00m²
Bedroom 2 3.53m x 4.14 (max) 13.36m²
Bedroom 3 3.05m x 4.10m 12.50m²
Lounge 3.57m x 3.0m 10.71m²
RATES:
Rateable value - £26,000 (2017 List)
VAT:
We understand the property is not registered for VAT.
ENERGY PERFORMANCE CERTIFICATE:
The property has an EPC Rating of 84.
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.
VIEWING:
By appointment through sole agent Charterwood on (01872) 261216.
Contact Stuart Sly or Jo Counter.
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