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Call: 01872 247008
Email: msn@miller-commercial.co.uk

For Sale
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37-39 And 37a, Killigrew Street, Falmouth, Cornwall

Investments Commercial for sale

£250,000 Price

Freehold

A property investment comprising two shops which are let to an independent artisan coffee operator with a vacant first floor office which has potential (subject to consents) for conversion to a flat. The ground floor is currently let under two leases at an annual rental of £17,000 rising to £19,000 in 2022. The leases are for a term of 12 years from May 2018 and include 4 yearly rent reviews.

  • MIXED INVESTMENT OPPORTUNITY
  • GROUND FLOOR COFFEE SHOP
  • FIRST FLOOR OFFICES WITH CONVERSION POTENTIAL
  • FLAT INDEPENDENTLY OWNED UNDER LONG LEASE
  • CLOSE TO THE MOOR CAR PARK
  • EPC RATING D (78)

Property Brochure PDF Location Map

Location

The town of Falmouth is a market town, port and popular holiday destination. It is situated approximately 10 miles from the Cathedral City of Truro which is the administrative centre for the county. The town includes a rail station which connects with the mainline at Truro and is situated 10 miles from the A30 Trunk Road which is the spinal route through Cornwall and connects with the national motorway network at Exeter. Newquay Airport is 27 miles away. Falmouth University currently has 5000 students and has plans to increase this to 7500.

The building is well located within Killigrew Street Falmouth above the area known as The Moor which includes a car park and bus terminus. The premises are located close to Falmouth Marine School and amongst an interesting mix of independent traders.

Description

The premises comprise two adjoining buildings which includes a coffee shop on the ground floor. The first floor above 37 Killigrew Street has been utilised as a health clinic and will be offered with vacant possession. There may (subject to statutory consents) be potential to convert this space to a dwelling. The first floor above 39 Killigrew Street is owned separately and comprises a flat held under a 99 year lease from 1992.

Accommodation

(All Areas and Dimensions are approximate)
37 Killigrew Street – Net Internal Area 32.1 sq m (346 sq ft) including Kitchen and seating area
39 Killigrew Street – Net Internal Area 40.6 sq m (437 sq ft) including kitchen, servery and seating area plus M&F WCs
37a Killigrew Street – Net Internal Area 31.2 sq m (335 sq ft) plus WC. This space is currently sub-partitioned to create an open space and two rooms.
39a Killigrew Street – This is a flat which is owned separately.

Tenure

The premises are held freehold subject to and the benefit of the following:-
37 Killigrew Street – This is let under a 12 year proportional full repairing and insuring lease at a passing rental of £8,500 per annum which is due to increase to £9,000 in May 2020 and £9,500 in May 2021. The lease includes 4 yearly rent reviews and a tenant’s 3 yearly break clause which is subject to six months’ notice.
37a Killigrew Street – This will be available with full vacant possession.
39 Killigrew Street – This is let under a 12 year proportional full repairing and insuring lease at a passing rental of £8,500 per annum which is due to increase to £9,000 in May 2020 and £9,500 in May 2021. The lease includes 4 yearly rent reviews and a tenant’s 3 yearly break clause which is subject to six months’ notice.
39a Killigrew Street and Rear Gardens. This has been sold off under a 99 year proportional full repairing and insuring lease at an annual rental of £50.

Proposal

The premises are available at an asking price of £250,000. Consideration will be given to splitting the property so that the 37a Killigrew Street could be available on a long lease for 99 years for £80,000 and the remainder of the building available at £170,000.

Legal Costs

Each Party to bear their own.

Value Added Tax

VAT is not payable on this property.

Energy Performance Certificate

There are two Energy Performance Certificates for this property.
37-39 Killigrew Street – D (78)
37a Killigrew Street – E (110)
Both EPCs run to November 2029

Contact Information

For further information or an appointment to view please contact either:-
Mike Nightingale on 01872 247008 or via email msn@miller-commercial.co.uk
Thomas Hewitt on 01872 247025 or via email th@miller-commercial.co.uk

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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Mike Nightingale Partner View Profile

Contact us about this property

Call: 01872 247008
Email: msn@miller-commercial.co.uk

Property Brochure PDF