Redruth

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COMMERCIAL INVESTMENT WITH RESIDENTIAL DEVELOPMENT POTENTIAL - ALMA PLACE/STATION ROAD, REDRUTH

£175,000 sought for the freehold interest.

The property comprises substantial corner block at the corner of Alma Place and Station Road. Currently producing £11,000 pa plus £800 per month from a short term letting of Unit 2, with planning consent to create 4 lock-up shops & 4 single bedroom flats

LOCATION:
The market town of Redruth is located in central Cornwall and has a resident population of 14,018 persons (2011 Census). The combined conurbation of Redruth, Pool and Camborne however forms the most densely populated part of Cornwall and is generally regarded as the County’s industrial centre.

SITUATION:
The premises are located at the corner of Alma Place and Station Road, a short distance from the pedestrianised prime shopping area of Fore Street, close to the railway station and adjacent to a busy bus stop.

DESCRIPTION:
The property comprises a substantial corner block with planning consent to create four lock-up shops and four one bedroom flats. Application Number PA18/02326. The building underwent refurbishment a few years ago which included the replacement of the roof.

LEASE DETAILS:

Shop 1
Let on a six year lease from 25th January 2013 on internal repairing and insuring terms at £4,000 per annum. The lease had been sub-let to a Mobility Scooter business.

Shop 2
Let on a short term rolling Licence from 21st August 2018 on internal repairing terms on a month to month basis of £800 per month. The Licence contains a mutual rolling break clause.

Shop 3
Let on a six year lease from 13th September 2013 on internal repairing and insuring terms at £2,500 per annum. The lease is excluded from the 1954 Landlord and Tenant Act. The lease contains annual break clauses and the tenant has served notice to vacate on 12th September 2018.

Shop 4
Let on a three year lease from 8th September 2017 on internal repairing and insuring terms at £4,500 per annum. The lease contains a tenant break clause exercisable at any time after the first 12 months on giving not less than six months’ written notice.

PRICE:
£175,000 is sought for the freehold interest.

VAT:
The property is not registered for VAT.

ENERGY EFFICIENCY RATING

Shop 1
THIS PROPERTY HAS A RATING OF 115
Certificate Reference Number: 0550-0838-6979-8406-8002
Report Reference: 0898-0866-7440-5900-5803

Shop 2
THIS PROPERTY HAS A RATING OF 88
Certificate Reference Number: 0260-2905-0338-4250-7000
Report Reference: 9240-4056-0083-0700-2521

Shop 3
THIS PROPERTY HAS A RATING OF 175
Certificate Reference Number: 0060-8943-398-3531-8070
Report Reference: 9837-4036-0489-0801-5301

Shop 4
THIS PROPERTY HAS A RATING OF 155
Certificate Reference Number: 0060-6999-0338-5550-4024
Report Reference: 9652-4056-0983-0400-5905

VIEWING:
Viewing arrangements may be made through sole agents Charterwood on (01872) 261216.

Contact Stuart Sly – stuart@charterwood.com
or Jo Counter – jo@charterwood.com

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