Overview

• INVESTMENT OF 10 BEACHSIDE APARTMENTS
• FULLY LET AT A RENT OF £200,000 PER ANNUM
• OVERLOOKING PORTH BEACH, NEWQUAY
• LEASE AVAILABLE UPON REQUEST
• FULL RESIDENTIAL USE PERMITTED
• ENERGY PERFORMANCE ASSET RATINGS BETWEEN B (82) AND C (77)

This substantial and exciting investment opportunity is available immediately. The development comprises nine purpose-built apartments (2010) plus one converted from a former retail unit (circa 2017), arranged over two floors. The building has a distinctive “wave” form roof, rendered elevations, and balconies or terraces to all flats. Each apartment provides open-plan accommodation with two or three bedrooms (most with a master en-suite), and a family bathroom. A private car park to the rear provides ten allocated spaces.

The block is let in it’s entirety to Modus Care Limited on a 15 year lease expiring on 31 October 2039. There are annual mutual break options and the lease is contracted outside of the provisions of Sections 24 – 28 of the 1954 Landlord and Tenant Act. A full copy of the lease is available on request.

“The Beach” occupies a prime beachfront position on Alexandra Road, Porth – a small coastal village on the northern outskirts of Newquay, between the town centre and Watergate Bay. Porth Beach draws significant tourist footfall throughout the summer season, however, the local area is home to a significant local population and the nearby development of the Duchy of Cornwall owned scheme at Nansledan is due to deliver in excess of 4,000 new homes in the years ahead.