Chartered Surveyors and Business Property Specialists
Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

For Sale
1 of 1

Carbis Bay Investment Land, Laity Lane, St Ives

Investments Commercial for sale

£499,950

Freehold

A Part freehold site in CARBIS BAY, with GROUND RENT income and potential SALE of Freehold Titles which could generate £860k (if all sold at current rates). A rare Investment / Sale proposition. Retirement Sale.

  • GROUND RENT/SALE OF LAND OPPORTUNITY
  • PART OF FREEHOLD TITLE
  • OUTSKIRTS OF ST IVES
  • INCOME (GROUND RENT) & SALE (22 x £25k / 83 x £3.75k) MODEL
  • GROSS YIELD c. 6% (GROUND RENTS)
  • RETIREMENT SALE
  • EPC: N/A

Property Brochure PDF Location Map

Location

The properties are situated in Carbis Bay, off Laity Lane, adjacent to a newly built market holiday village. Carbis Bay and St Ives requires little introduction to one of the county’s if not the country’s foremost holiday and residential destinations. This is a quiet site with a rural aspect. We understand there is permission in some adjacent land for housing development.

The Property/investment

We understand the site was originally developed in 1986/1987 as a holiday park for holiday use, which were converted to full residential consent in 1994, during which time the properties have been sold to private individuals, with a typical sale value (at the time of writing) in region of £150,000 to £160,000. Our clients retained the gardens and parking for the properties and therefore for sale is the current residual amount, being 22 gardens and 83 parking spaces.

The gardens are typically selling for £25,000, alternatively, generate a ground rent of £1,321 per annum. Our client has sold 6 car parking spaces, with 83 remaining and these have been sold for £3,750 each, these do not attract any ground rent.

In terms of the ground rents, these are collected 1 year in advance and are linked to the Retail Price Index, the total for the 22 is £29,062 per annum.

Costs Associated With The Site

Our client advises that the site owner is expected to cut grass and maintain the road to a ‘reasonable’ standard and supply street lighting, with an estimate of costs of circa £3,000 to £4,000 per annum.

Tenure – Freehold

Title Number CL252493. A copy of the Title Plan is available upon request and shows which of the 22 remaining garden plot numbers are yielding a ground rent and also the location of the 89 (total) car parking spaces.

General Information

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

Energy Performance Certificate

Not applicable: not selling individual properties.

Contact Information

For further information or an appointment to view please contact either:-
Graham Timmins on 01872 247019 or via email gt@miller-commercial.co.uk or
Paul Collins on 01872 247029 or via email pc@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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Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

Property Brochure PDF