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INVESTMENT PROPERTY FOR SALE - 20 TRELOWARREN STREET, CAMBORNE TR14 8AA
£225,000 is sought for the freehold interest. |
Ground floor shop with separately accessed first floor flat with rear garden/parking. Produces a combined rental income of £19,500 per annum 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 occupiers include Santander, Specsavers, Holland and Barrett and Poundstretcher. 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 a retail shop on the ground floor with front and rear sales area, kitchen, store, staff WC and externally accessed WC. The shop is occupied by Fone Care Limited selling phone accessories.
The first floor is accessed via an external staircase at the rear and comprises a lounge, bedroom, bathroom and kitchen. The flat is let on an assured shorthold tenancy.
Rear vehicular access to the property is gained from Gas Street and private parking for both shop and flat is accommodated within the rear garden.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground Floor Shop
Internal width 4.85 m
Shop depth 13.20 m
Sales area 55.31 m² (595 ft²)
Kitchen 9.28 m² (100 ft²)
Store 3.08 m² (33 ft²)
Staff WC’s
First Floor Flat
Entrance hall
Lounge 22.48 m² (242 ft²)
Bedroom 10.95 m² (118 ft²)
Kitchen 7.09 m² (76 ft²)
Bathroom 5.69 m² (61 ft²)
LEASE DETAILS:
Ground floor shop
Tenant: Fone Care Limited.
Term: Ten years from 1st March 2024.
Rent: £10,500 per annum payable quarterly in advance.
Rent Reviews: 1st March 2027 and 1st March 2030 upward only to Market Rent.
Tenant Break Clause: 1st March 2027 and 1st March 2030 on six months notice.
Repairs: Internal repairing terms including shop front.
Service Charge: £500 per annum.
Insurance: Proportion reimbursed by tenant.
First Floor Flat
Let on a six month Assured Shorthold Tenancy from 11th September 2024 at £750 per month.
The tenants are holding over on a monthly periodic tenancy.
PRICE:
£225,000 is sought for the freehold interest subject to the two leases.
BUSINESS RATES/COUNCIL TAX:
Ground Floor Rateable Value: £11,500
First Floor Flat Council Tax: Band A
VAT:
We are advised the property is not registered for VAT.
SERVICES:
The property is connected to mains water, electricity and drainage. Electric radiators are fitted in the first floor flat.
PLANNING:
The property lies within the Camborne Conservation Area but is not a Listed Building.
MONEY LAUNDERING
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all applicants that are conducting property transactions through the Company.
EPC:
Ground Floor Shop
Certificate Reference No. 7691-7497-7712-6237-1548
Recommendation Report No. 7867-0067-1864-9517-5026
First Floor Flat
The first floor flat has an EPC lying within Band E.
Certificate Reference No: 3205-0082-2002-1599-9896
VIEWING:
By appointment through sole agent Charterwood on (01872) 261216.
Contact Stuart Sly or Rosie Brenton.
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