Chartered Surveyors and Business Property Specialists
Mike Nightingale Partner View Profile

Contact us about this property

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

For Sale
1 of 8

5, Albert Street, Penzance

Investments Commercial for sale

£85,000 Asking price

Freehold

A freehold building comprising ground floor retail premises with two flats above which pay a ground rent of £100 per annum each. The ground floor is let under a six year proportional full repairing and insuring lease at an annual rental of £7000 from August 2020. The premises are situated adjacent to a pedestrian crossing on the main route into the prime shopping area of Market Jew Street. Wharfside Shopping Centre, Penzance Railway Station and The Wharfside Public Car Park are also in close proximity.

  • FREEHOLD INVESTMENT PRODUCING £7200.
  • SHOP LET ON 6 YEAR LEASE FROM AUG 2020
  • YIELD 8.32%
  • LOCATED CLOSE TO MARKET JEW STREET & TRAIN/BUS STATIONS
  • ENERGY PERFORMANCE ASSET RATING D(97)

Property Brochure PDF Location Map

Description/location

A three storey building comprising ground floor retail unit with two flats above located within a small parade situated close to Penzance Railway Station and the principal retailing area of Market Jew Street.

Accommodation

All areas and dimensions are approximate.
Ground Floor
Net Retail Area 28.1 sq m (303 sq ft)
Store 6.42 sq m (69 sq ft)
Kitchen 6.16 sq.m (66 sq ft)
WC
First and Second Floor Flats – Each 1 bedroomed and owned separately.

Tenure

Freehold – subject to and with the benefit of the leases below.

Ground floor – This is let under a new six year lease from August 2020 at an annual rental of £7000 on proportional full repairing and insuring terms via a service charge. There is a rent review and tenant break option on the second anniversary of the term.

First Floor – This is held under a 999 year lease from 01/01/19 at an annual rental of £100. The tenant contributes towards external repairs via a service charge.

Second Floor – This is held under a 999 year lease from 01/01/19 at an annual rental of £100. The tenant contributes towards external repairs via a service charge.

Legal Costs

Each party to bear their own.

Local Authority

Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Vat

All the above prices/rentals are quoted exclusive of VAT, where applicable.

Energy Performance Certificate

The Energy Performance Rating for this property is included within Band D (97).

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 or
Thomas Hewitt on 01872 247025 or via email th@miller-commercial.co.uk

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] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] 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.

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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