Royal Institution of Chartered Surveyors

CHARTERWOOD
Chartered Surveyors & Commercial Property Consultants

 
 
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Truro

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INVESTMENT FOR SALE - 17 RIVER STREET

INVESTMENT FOR SALE - 17 RIVER STREET
£380,000 is sought in respect to a freehold sale.

Ref: C1246
  

Open plan sales with office/staffroom on ground floor. Workshop/storage accommodation at lower ground floor level. First floor accommodation provides office, reception and storeroom with three offices at second floor.

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 occupy a popular secondary trading location along River Street. The area is predominantly occupied by a mix of regional and local traders with nearby occupiers including Saltrock, Mistral, White Stuff and Trevails with the Royal Cornwall Museum situated opposite. There are also a number of office users within the vicinity.

DESCRIPTION:
The well presented ground floor premises comprise self contained accommodation with large double glazed retail frontage onto River Street. The sales floor is open plan with a manager’s office/staffroom situated to the rear. Stone steps give access to the lower ground floor which incorporates extensive workshop/storage accommodation and staff toilet facilities. A door within the store provides a rear fire escape route, and also accesses the shop’s two allocated parking spaces. The entire accommodation is let to British Red Cross.

The first and second floors are occupied by established tenants, Charterwood Commercial Property Consultants Ltd. The accommodation provides an office, reception and storeroom at first floor level with a further three offices at second floor. Staff toilet facilities are situated on each floor.

LEASE DETAILS:
The ground floor shop premises are let to British Red Cross under a new full repairing and insuring lease at an initial rent of £15,000 per annum in years 1 and 2, rising to £17,500 per annum thereafter. The tenancy is for a 10 year term with effect from 28th June 2013 and include a rent review on the 5th year. There is a tenant only break option on 24th March 2018.

The office tenant is currently in occupation under a 5 year proportional full repairing and insuring lease, outside the security of tenure provisions under the Landlord and Tenant Act 1954, commencing 12 May 2011. The passing rent is £4,500 per annum with the next rent review due on 12 May 2014. A tenant’s rolling break clause is incorporated within the lease.
SALE PRICE:
£380,000 is sought in respect to a freehold sale, subject to the existing lease.

ACCOMMODATION: (All dimensions and areas are approximate)

GROUND FLOOR SHOP
Sales area 75.90m² (817 ft²)
Office/Staffroom 9.20m² ( 99 ft²)

LOWER GROUND FLOOR
Store/Workshop 65.10m² (700 ft²)
WC

FIRST FLOOR
Office Suite 32.60m² (351 ft²)
WC

SECOND FLOOR
Office Suite 37.30m² (401 ft²)
WC


BUSINESS RATES:
SHOP
2010 Rateable value £32,500

OFFICES
2010 Rateable value £5,300

For further information regarding rates payable contact Cornwall Council - Tel: 0300 1234100

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

LEGAL COSTS:
Each party will be responsible for their own respective legal costs incurred in the freehold transaction.

VIEWING:
Viewing arrangements may be made through Charterwood on
(01872) 261216. Contact Chris Waters.

ENERGY PERFORMANCE CERTIFICATE:
Ground Floor
Certificate Reference Number: 9159-3009-0493-0000-5405
Report Reference Number: 0510-0049-5439-9009-4006

First Floor
Certificate Reference Number: 0210-9955-0312-9320-2074
Report Reference Number: 9997-4021-0521-0200-3525

    Print These Details     All Truro Properties     Back to Listing

INVESTMENT FOR SALE - 17 RIVER STREET

INVESTMENT FOR SALE - 17 RIVER STREET



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


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