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Thomas Hewitt Commercial Agency Surveyor View Profile

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Call: 01872 247025
Email: th@miller-commercial.co.uk

For Sale
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1-5, Commercial Square, Camborne

Investments Commercial for sale

£425,000 Offers over

Freehold

An opportunity to acquire the freehold interest in a fully occupied investment property. Let in 2 parts, the ground and part first floor to William Hill Organization Ltd and the remainder of the first floor to Selborne Care Ltd with a total passing rent of £35,000PA.

Local occupiers include Aldi, Lloyds Bank, Superdrug, The Works, Costa Coffee, as well as a mix of independent retailers. Commercial Square is often home to local events and market stalls.

  • RETAIL INVESTMENT FOR SALE
  • NO VAT
  • PROMINENT TOWN CENTRE LOCATION
  • PRIMARILY LET TO WILLIAM HILL UNTIL 20/12/2027*
  • TOTAL INCOME £35,000 PA
  • EPC RATING D (94)

Property Brochure PDF Location Map

Location

Camborne forms part of the largest conurbation in Cornwall. Located in the heart of Cornwall with a population of 20,845 (2011 Census), 15 miles from Truro and 16 miles from Penzance. Camborne station is on the main line to London Paddington and close to the A30 which offers favourable transport links.

Situation

Located adjacent to Commercial Square and its iconic ‘Holman’ water fountain, the building is located in the very heart of the town. This area is often used to host events and various markets throughout the year.

Description

1-5 Commercial Square comprises a mixed use building with a retail unit on the ground floor and office accommodation on the first floor.

WILLIAM HILL ORGANIZATION LTD
A ground floor retail unit providing sales accommodation with associated ancillary accommodation and welfare facilities. The unit also provides office/storage area at first floor level.

SELBORNE CARE LTD
The property comprises a self contained, largely open plan first floor office with meeting room and welfare facilities.

Schedule Of Accommodation

William Hill – Ground and part first floor
ITZA 1,361.3 sq ft (127.2 Sq m)
Total NIA 2,021 sq ft (187.8 Sq m)

Selborne care offices – remainder of first floor
Total NIA 871 sq ft (80.92 sq m)

Tenant Information

Ground and part first floor.
This demise is let to WIlliam Hill Organization Ltd on a 10 year term from 21/12/2017 expiring 20/12/2027 at a passing rent of £28,500 per annum. The lease incorporates an upwards only rent review 21/12/2022.
*Tenant break options 20/12/2022 & 20/12/2024. Tenant to repair interior and pay proportion of upkeep of external areas and common parts by way of a service charge.

First floor office.
This demise is let to Selborne Care Ltd on a 5 year term from 21/12/2017 expiring 20/12/2022 at a passing rent of £6,500PA. Internal repairing liability.

Tenure

Freehold.

Proposal

We are seeking offers over £425,000 for our client’s freehold interest in this property subject to contract.
This reflects a net initial yield of 7.89% allowing for standard purchasers costs of 4.33%.

Value Added Tax

All the above prices/rentals are quoted exclusive of VAT.
We have been advised that this property is not elected for VAT.

Legal Costs

Each party to bear their own.

Energy Performance Certificate

The Energy Performance Rating for this property is within Band D (94).

Contact Information

For further information or an appointment to view please contact either:-
Thomas Hewitt on 01872 247025 or via email th@miller-commercial.co.uk or
Peter Heather on 01872 247007 or via email pgh@miller-commercial.co.uk or

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.

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Thomas Hewitt Commercial Agency Surveyor View Profile

Contact us about this property

Call: 01872 247025
Email: th@miller-commercial.co.uk

Property Brochure PDF