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COMMERCIAL INVESTMENT - FOR SALE - 2 COLLEGE STREET, CAMBORNE TR14 7LE
£165,000 is sought for the freehold, subject to the existing leases. |
Commercial Investment - For Sale - situated at the eastern end of College Street comprising an end of terrace two storey building with forecourt parking.
LOCATION:
Camborne lies in west Cornwall in the former district of Kerrier and, together with the adjacent town of Redruth, forms the most densely populated part of the county with a population of approximately 50,000 persons. Camborne is a relatively busy retail centre with two out of town food stores, Tesco and Aldi, and a reasonable selection of multiple and local independent retailers. Cornwall Council’s area 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 lies at the eastern end of College Street at the junction with Wellington Road and Church Street. The subject building has frontage onto College Street and return frontage onto Wellington Road. The property is a short distance from the Aldi discount food store.
DESCRIPTION:
The property comprises an end of terrace two storey building with forecourt parking. The ground floor has a glazed frontage on two elevations and is occupied by a window company and comprises a main showroom, offices and staff room with toilet facilities at the rear. The forecourt provides parking for two vehicles. The first floor is self-contained with an access from a door in the Wellington Road elevation. The doorway opens onto a small ground floor lobby with staircase leading to the first floor which is occupied as a gymnasium. The first floor is mainly open plan with separate male and female toilets and changing facilities.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground Floor
Internal width 9.44 m
Showroom depth 11.87 m
Showroom/offices 107.30 m²
WC
First Floor
Gymnasium 112.0 m²
Male and Female WC’s
LEASE TERMS:
Ground Floor
The lease is for five years from 18th September 2017 at a rent of £11,000 per annum payable monthly in advance. The lease is on internal repairing terms plus the tenant pays a service charge equivalent to 50% of the landlord’s costs of maintaining the building, 50% of the buildings insurance and any landlord’s management fees and 25% of the water rates. The lease is excluded from Sections 24-28 of the 1954 Landlord and Tenant Act.
First Floor
The lease is for five years from 18th September 2017 at a rent of £4,700 per annum payable monthly in advance. The lease is on internal repairing terms plus the tenant pays a service charge equivalent to 50% of the landlord’s costs of repairing and maintaining the building, 50% of the buildings insurance and 50% of the water rates. The lease is excluded from Sections 24-28 of the 1954 Landlord and Tenant Act.
TERMS:
£165,000 is sought for the freehold interest, subject to the existing leases.
BUSINESS RATES:
Ground floor shop and premises Rateable Value £9,400
First floor gymnasium and premises Rateable Value £7,000
SERVICES:
We understand the property is connected to mains electricity, water and mains drainage. The ground and first floor have been separately metered for electricity but share a common water supply with the ground floor tenant paying 25% and the first floor tenant paying 50%. The Landlord pays 25% of the water rates. The ground floor showroom is fitted with a security alarm and a ceiling mounted air conditioning unit.
We have not tested the services connected to the premises and the ingoing purchaser should carry out their own inspection.
ENERGY EFFICIENCY RATING:
The ground floor has an EPC dated 2nd March 2012 and an Energy Performance Asset Rating of 49 lying within Band B.
Certificate Reference Number:0220-7903-0302-5190-5080
Report Reference Number: 9758-4092-0020-0500-1321
The first floor has an EPC dated 17th September 2020 and an Energy Performance Asset Rating of 90 lying within Band D.
Certificate Reference Number:0910-5290-0350-4670-3064
Report Reference Number: 2546-4071-0905-0300-6095
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.
VAT:
All figures quoted are exclusive of VAT where applicable. The property is not registered for VAT.
VIEWING:
Viewing arrangements may be made through sole agents Charterwood on (01872) 261216.
Contact Stuart Sly – stuart@charterwood.com
or Rosie Brenton - rosie@charterwood.com
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