INVESTMENT PROPERTY FOR SALE - UNITS 1 AND 2 PONSHARDEN, FALMOUTH TR11 2SE - Falmouth - Cornwall

LOCATION:
Ponsharden is located on the outskirts of Falmouth and has access directly onto the A39. Businesses situated in Ponsharden are largely marine based due to the immediate proximity of the Penryn River.

SITUATION:
The premises are situated on the waterfront with shared access over a gated surfaced yard. Access to the unit is off the Ponsharden roundabout which connects to the A39 and A394. Nearby occupiers include Pets at Home retail store, Lidl, Sainsbury and Rustler Yachts.

DESCRIPTION:
The property comprises a semi-detached industrial unit with an adjacent area of yard. The property was re-clad in 2018. The unit has an internal eaves height of 9.16 m increasing to 10.96 m at the roof apex. A sliding steel loading door exists in the front (north) elevation with dimension 8.0 m x 16.0 m wide. A timber mezzanine level has been built at the rear accessed via timber stairs and measuring 8.60 m x 7.25 m. The property is occupied by a marine related business who also own the adjoining units.

ACCOMMODATION: (All dimensions and areas are approximate)

Site area 0.109 hectare (0.27 acre)

Ground floor 525.76 m² (5,657 ft²)
Mezzanine 62.51 m² ( 673 ft²)
Total 588.27 m² (6,330 ft²)

LEASE TERMS:
The property is let for nine years from 1st May 2016 at £28,000 per annum. The lease is on full repairing and insuring terms subject to a Schedule of Condition. The lease is subject to three yearly rent reviews.

The lease also contains mutual break clauses on 1st May 2019 and 1st May 2022 which may be implemented by landlord or tenant on not less than 12 months’ written notice. The lease is excluded from Sections 24-28 of the 1954 Landlord and Tenant Act. Provided the requisite notice is served by 30th April 2021 vacant possession could be secured on 1st May 2022.

TERMS:
£400,000 is sought for the freehold interest, subject to the existing lease.

BUSINESS RATES:
Factory and Premises – Rateable Value £19,000.

SERVICES:
We understand the unit is connected to mains electricity. We have not tested the services connected to the premises and the purchaser should carry out their own inspection.

RIGHTS OF WAY:
We understand that the subject property and adjoining unit have a shared right of way over the gated entrance and main surfaced yard, The subject property has no direct access to the water.

ENERGY PERFORMANCE CERTIFICATE:
The building is classified as a Low Energy Building and is exempt from the regulations of requiring an EPC.

LEGAL FEES:
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 specified. We are advised the property is not registered for VAT.

VIEWING:
Viewing arrangements may be made through Charterwood on (01872) 261216. Contact Stuart Sly or Jo Counter.