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Mike Nightingale Partner View Profile

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

For Sale
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Mixed Investment Opportunity, 4, Green Market, Penzance, Cornwall

Investments Commercial for sale

£450,000 Asking price

Freehold

A substantial investment property comprising a ground floor retail unit together with four flats above.

The building which is Grade II Listed is located on The Green Market and has frontage to Union Street where there is a public car park which has 43 spaces.

The investment currently produces an income of £41,100 per annum and is being offered at a price of £450,000. The ground floor trades as PRH Estate Agents and the flats above include 3 one bed flats and a large duplex two bed flat.

  • SUBSTANTIAL MIXED GRADE II LISTED INVESTMENT
  • GROUND FLOOR SHOP AND 4 FLATS
  • CURRENTLY PRODUCING £41,100 PER ANNUM
  • INTERNAL INSPECTIONS RECOMMENDED
  • EPC – FLATS – BAND C/D SHOP – APPLIED FOR

Property Brochure PDF Location Map

Location

Penzance is the principal administrative and shopping centre of West Cornwall and is also an important focus for tourism. In addition to providing for the food shopping needs for the local population, the town contains numerous durable goods stores and is an important Banking and Service Industry centre. It is also considered to be one of the most important historic town centres in Cornwall and is noted for its well preserved ancient town plan, waterfront and the number of Buildings of Architectural and Historic Importance. Both the railway and bus stations are located immediately to the north of the harbour car park.

The subject property is located on the corner of Green Market and Union Street which is mixed in terms of uses. Nearby occupiers include HSBC, DJ Andrewartha Furniture Shop, Chan’s Oriental Foods, Warrens bakers, Boots pharmacy, Jacksons Insurance Brokers, Miller Countrywide, Marshall’s Estate Agents, Bradleys, Bet Fred and Lloyds Bank. The building is situated very close to a public car park and bus stop.

Description

A three/four storey building of traditional granite construction with a pitched slated roof. The ground floor is occupied as an estate agents and there are four flats above accessed to the rear off Buriton Row.

Accommodation

Ground Floor Retail Premises – 72.9 sq.m (785 sq.ft)
First Floor – Flat 1 – one bed; Flat 2 – one bed.
Second Floor Flat 3 -one bed
Second/Third Floor – Flat 3 – two bed – this is spread over two floors
Floors plans are available.

Tenure

The property is held freehold and is sold subject to and with the benefit of the following lease/tenancies:-
Ground Floor – a 20 year proportional full repairing and insuring lease from July 2009 at a passing rental of £16,500 per annum exclusive.
Flat 1. Let under an Assured Shorthold Tenancy at £460.00 PCM
Flat 2. Let under an Assured Shorthold Tenancy at £480.00 PCM
Flat 3. Let under an Assured Shorthold Tenancy at £550.00 PCM
Flat 4. Let under an Assured Shorthold Tenancy at £560.00 PCM

Total Income £40,500 per annum

Legal Costs

Each party to bear their own.

Value Added Tax

This property is not registered for VAT.

Energy Performance Certificate

The Energy Performance Ratings for this property are as follows:-
Ground Floor – Band D (85)
Flat 1 Band D (62)
Flat 2 Band C (74)
Flat 3 Band D (63)
Flat 4 Band D (61)

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 or
Joint Agent PRH Estate Agents – Lowena Greaves on 01736 363816 or via email lowena@prhpenzance.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