* Comprises four ground floor shops with two flats above (sold off)
* Fixed rental increase to £14, 722 in June 2024.
Investment Consideration:
Gross Initial Yield: 11. 30%
Rental Income: £14, 122 p. a.
Fixed rental increase to £14, 722 in June 2024.
VAT is applicable to this property
Comprises four ground floor shops with two flats above (sold off)
Occupiers close by including Aldi, Lloyds Bank, Costa Coffee, Argos,
Costcutter, NatWest and more.
Property Description:
The property is arranged on ground and two upper floors to provide 4 ground
floor shops and two flats above (sold off), providing the following
accommodation and dimensions:
No. 1 & 2 Ground Floor Shop: Medical Premises 30. 45 sq m (328 sq ft)
No. 3 & 4 Ground Floor Shop: Tattoo Studio 28. 05 sq m (302 sq ft)
No. 5 Ground Floor Shop: Office b 16. 45 sq m (177 sq ft)
No. 6 Ground Floor Shop : Hair Salon 16. 10 sq m (173 sq ft)
Tenancy:
Shop No. 1 & 2 is at present let to an Individual for a term of 3 years from
1st October 2020 at a current rent of £3, 200 p. a. And the lease contains full
repairing and insuring covenants. Tenant break option in April 2022 not
exercised.
Shop No. 3 & 4 is at present let to an Individual for a term of 3 years from
August 2023 at a current rent of £3, 900 p. a. And the lease contains full
repairing and insuring covenants. Tenant in occupation since 2020. Deposit
held of £600.
Shop No. 5 is at present let to an Individual for a term of 3 years from 29th
March 2022 at a current rent of £3, 120 p. a. And the lease contains full
repairing and insuring covenants. Tenant option to determine on 29. 09. 23 with
minimum 3 months notice. Deposit held of £520.
Shop No. 6 is at present let to an Individual for a term of 3 years from 23rd
June 2023 at a current rent of £3, 900 p. a. And the lease contains full
repairing and insuring covenants. Fixed rental increase to £4, 500 p. a. In June
2024. Deposit held of £750.
The two residential flats on the first and second floors are sold off on long
leasehold to an individual for a term of 999 years from the 25th March 1988 at
a current ground rent of £2 per annum (£1 per annum for each flat).
Location:
The market town of Camborne is located in South Cornwall, between Penzance
some 14 miles south - west and Newquay approximately 20 miles to the north - east.
The town centre is located just a mile from the A30, Cornwall’s main arterial
dual carriageway. The rail station also provides regular services on the
London - Penzance line. The property is situated north of Gurneys Lane, close to
its junction with Cross Street. It is 1 mile south of the A30. Occupiers close
by include Boots Chemist, Boots Opticians, Aldi supermarket, Lloyds Bank,
Costcutter, Consol, Shoe Zone, Royal Mail and The John Francis Bassett public
house.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: