* Comprises Ground Floor Shop and 5 x Residential Flats above (sold - off)
* Town centre location with nearby occupiers including Poundland, Boots and more
Investment Consideration:
Gross Initial Yield: 8. 11%
Rental Income: £10, 140 p. a.
VAT is applicable to this property
Comprises Ground Floor Shop and 5 x Residential Flats above (sold - off)
Town centre location with nearby occupiers including Poundland, Boots, Sports
Direct, Argos, Iceland, EE and many more.
Property Description:
The property comprises Ground Floor Retail Shop and 5 x Residential Flats
above (sold - off), providing the following accommodation and dimensions:
Ground Floor Shop: 149. 90 sq m (1, 614 sq ft)
Open plan retail, Storage, Kitchenette, WC
First/Second/Third Floor: 5 Self - Contained Flats
Sold off
Tenancy:
The ground floor shop is at present let to an Individual t/a Sweet Dreamzz
Baby Store* for a term of 5 Years from 1st February 2023 at a current rent of
£10, 140 p. a. And the lease contains full repairing and insuring covenants.
Rent review on 01. 02. 26 open market upward only. Tenant option to determine on
1st February 2025 and 2026 with minimum 6 month1s notice. Deposit held of
£1, 690.
*Tenant has an established baby business with 2 locations and aim to make this their new main store due to its size.
The 5 residential flats have been sold - off on long leasehold for a term of 125
Years from 2nd July 2014 at a ground rent of peppercorn.
Location:
St Austell is a busy town 13 miles north - east of Truro. The town is an
attractive tourist destination, with the world famous Eden Project located
only 3 miles to the north - east of the town centre. The property is situated in
the town centre with nearby occupiers including Poundland, Boots, Sports
Direct, Argos, Iceland, EE and many more.

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