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Retail/Shop

Retail/Shop For Sale Newquay

PROPERTY ID: 124152

PROPERTY TYPE

Retail/Shop

STATUS

Under Offer

SIZE

3,072 sq.ft

Key Features

Multi let investment in Newquay town centre
Leases agreed for renewal will generate £51,200 per annum
Circa 8.55% yield on passing rents at renewal allowing for purchaser's costs of 5.02%

Property Details

Newquay requires little introduction as one of Cornwall's most established and largest resort towns and is also one of the country's leading surfing venues. It has a resident population of around 20,600. Which is set to grow significantly with residential growth on the outskirts. Newquay benefits from a branch line railway service and also hosts Cornwall's airport with regular flights to London and other destinations across the UK and Europe.

The Property Comprises A Row Of Three Separate Retail Units With One Residential Unit Above. Unit 7 Comprises Ground And First Floors. Units 7a And 9 Are Ground Floor Units And There Is A Residential Flat Above. All Four Units Are Let And Income Producing. Location Newquay Requires Little Introduction As One Of Cornwall's Most Established And Largest Resort Towns And Is Also One Of The Country's Leading Surfing Venues. It Has A Resident Population Of Around 20,600. Which Is Set To Grow Significantly With Residential Growth On The Outskirts. Newquay Benefits From A Branch Line Railway Service And Also Hosts Cornwall's Airport With Regular Flights To London And Other Destinations Across The Uk And Europe. Accommodation All Areas Are Approximate And Measured In Accordance With The Rics Property Measurement (1st Edition). 7: Ground Floor Main: 47.5 Sq M (511 Sq Ft) Ground Floor Store: 9.7 Sq M (104 Sq Ft) First Floor Main: 82.3 Sq M (886 Sq Ft) Total: 139.4 Sq M (1501 Sq Ft) 7a: Main Area: 36.3 Sq M (390 Sq Ft) Ancillary Area: 6.7 Sq M (72 Sq Ft) Total: 43.0 Sq M (462 Sq Ft) 9: Ground Floor Main: 31.6 Sq M (340 Sq Ft) Ground Store: 14.8 Sq M (159 Sq Ft) Total: 46.4 Sq M (499 Sq Ft) First Floor Flat 56.71 Sqm (610 Sq Ft) Rent / Price Offers In The Region Of £590000 Business Rates From The Valuation Office Agency Website (www.voa.gov.uk) We Understand That The Current Rateable Values Are As Follows: - 7: £11,750 Effective From 1st April 2023 Reference 26010341007020 7a: £10,750 Effective From 1st April 2023 Reference 26010341007010 9: £11,250 Effective From 1st April 2023, Reference 26010341009000 Residential Flat - Council Tax Band A. Services We Understand That Mains Electricity, Water And Drainage Are Connected To The Property However These Services Have Not Been Tested By The Agents. Interested Parties Should Make Their Own Enquiries. Epc 7 - C (71) Reference: 9432-3052-0064-0900-2505 7a - D (77) Reference: 0599-0423-0730-2800-8603 9 - D (93) Reference: 9553-3072-0166-0000-2801 Flat - E (52). Reference: 2231-2162-3212-2472-2355 Legal Fees Each Party To Be Responsible For Their Own Legal Fees In Relation To This Transaction. Vat The Property Has Not Been Elected For Vat And Therefore Vat Will Not Be Charged On The Price.

Download PDF Brochure
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About the Agent

Vickery Holman

See Agent's Other Properties

Retail Unit

£590,000 Freehold

7,Fore Street, Newquay, TR7 1HB
Retail/Shop - Under Offer
3,072 sq ft
285 sqm
Show phone number

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