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LONG LEASEHOLD RETAIL INVESTMENT PREMISES FOR SALE - GALLERY PREMISES, 22 FORE STREET, ST IVES
Offers sought in the region of £325,000. |
LONG LEASEHOLD RETAIL INVESTMENT PREMISES FOR SALE SITUATED ON THE MUCH SOUGHT AFTER TRADING LOCATION OF FORE STREET, ST IVES. GALLERY PREMISES WITH DOUBLE DOOR AND GOOD WINDOW FRONTAGE LEAVING INTO A LARGE OPEN PLAN AREA WITH GOOD LIGHTING.
LOCATION:
St Ives is one of the most characterful and busiest resorts in the south west. The quaint harbour town is extremely popular during the summer season but also benefits from tourist trade throughout the year due largely to the Tate Gallery and its links with the artist community. The town is highly sought after by National, Regional and Local retailers and there are numerous respected restaurants, bistros and cafes.
SITUATION:
The property is situated on the much sought-after trading location of Fore Street, the main shopping thoroughfare and in close proximity to the harbour front and The Digey, which gives direct access to the Tate Gallery. Although slightly set back from the main drag nevertheless this does have its advantage from allowing shoppers a more leisurely chance to window shop.
Nearby occupiers include Quba, Mountain Warehouse, the Seafood Café and Joules. There are also numerous galleries within the immediate vicinity creating a specialist area which will be further enhanced by the proposed refurbishment of the adjoining Barbara Hepworth workshop by the Tate Gallery.
DESCRIPTION:
The property comprises a prime retail unit with double doors and good window frontage leading into a large open plan area with good lighting. The property benefits from roller shutter security doors across the frontage. The property is occupied under a new lease and is used as an art gallery. It is in excellent condition throughout. No food uses will be allowed.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground Floor
Sales area:
Max width 6.53m
Max depth 12.68m
Total area (including partitioned store) 78.4m² (844ft²)
Total areas in terms of Zone A 57.0m² (613ft²)
Toilet facility and wash hand basin
LEASE DETAILS
The property is occupied under a nine-year lease commencing 1st September 2020, i.e., just under nine years unexpired, three-year rent reviews on full repairing and insuring basis. The tenant has an option to determine the lease at the end of the fifth year. The passing rent is £23,000 per annum.
The tenant is a well-established St Ives gallery business supported by personal guarantees.
BUSINESS RATES:
Rateable Value - £19,000 (2017 List) We understand there will be no rates liability for the present financial year.
VAT:
VAT is not be payable on the rent or purchase price.
SERVICES:
We have not tested the services connected to the premises.
PLANNING:
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves as to
planning for both its existing and any proposed uses.
LEGAL FEES:
Each party to be responsible for their own legal fees in dealing with the transaction.
LONG LEASEHOLD PURCHASE PRICE AS AN INVESTMENT, SUBJECT TO OCCUPATIONAL LEASE:
Offers sought in the region of £325,000.
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.
ENERGY EFFICIENCY RATING:
THIS PROPERTY HAS A RATING OF 39 (BAND B)
Certificate Reference Number: 9446-3060-0015-0190-7201
Report Reference Number: 0740-0141-4059-6600-2092
VIEWING:
Viewing arrangements may be made through Charterwood on (01872) 261216.
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