Commercial Development for sale

3, Beachfield Avenue, Newquay

Guide Price £145,000
744 sq. ft.

Property Description

Commercial information

  • 744 sq ft (69 sq m)
  • Use class orders: A1 Shops

Key features

  • INVESTMENT OPPORTUNITY
  • GROSS INCOME 15,309
  • CLOSE TO PRIME RETAIL PITCH
  • NET INITIAL YIELD 10.35% (AFTER PURCHASE COSTS OF 2%)
  • EPC RATING - BAND F

Full description

A substantial 4 storey building located centrally within Newquay; close to the prime retailing area of Bank Street. The premises include a ground floor retail unit which is currently let at an annual rental of £9,000 together with basement beauty salon which will be let at an annual rental of £5,000 per annum exclusive. There are 7 flats which have been sold off on 125 year leases and these pay a ground rent totalling £1,316 per annum.

Location - The premises are located within Beachfield Avenue which connects Bank Street, the prime retailing area of Newquay with Beach Road and Towan Beach/The Blue Reef Aquarium. The premises are located close to Costa Cofffee, Clarks Shoes, Superdry, WH Smith and Specsavers amongst others.

Description - The ground floor comprises a retail unit which is let as a Hair Stylists together with a basement which has recently been refurbished and operates as a beauty salon. The upper floors include 7 flats which are owned separately with the owners paying the freeholder an annual ground rent.

Accommodation - All areas and dimensions are approximate.

Ground Floor
Retail Area - Max Width 3.86m; Max Depth 8.13m Net Area 28.6 sq.m (308 sq.ft)
Kitchen 2.3 sq.m (25 sq.ft)
Rear Room 8.1 sq.m (87sq.ft)

Basement
Main Area - 17.9 sq.m (192 sq.ft)
Treatment Room 1 7.7 sq.m (82 sq.ft)
Treatment Room 2 4.6 sq.m (50 sq.ft)

Flats- not inspected as owned independently.

Tenure - The premises are held freehold and are subject to the following occupations:-

Ground Floor - this is let to a local Hair Stylist under a 5 year lease from June 2016 at an annual rental of £9,000. The lease is on proportional full repairing and insuring terms, includes a rolling 6 month tenant only break clause and is excluded from the security of tenure provisions of the Landlord and Tenant Act 1954.

Basement - this is to be subject to a 5 year lease from completion of the sale. The lease is to be on proportional full repairing and insuring terms at an annual rental of £5000.

Flats - The 7 flats have all been sold on long leases (100 years unexpired) and each pays a ground rent of £188 per annum together with a service charge to cover the repair and maintenance of the exterior and common parts.

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

Business Rates - We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171

Services - Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

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

Energy Performance Certificate - The Energy Performance Rating for this property is within Band F.

Contact Information - For further information or an appointment to view please contact either:-

Mike Nightingale on 01872 247008 or msn@miller-commercial.co.uk or
Laura Gardner on 01872 247032 or lg@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.


More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Newquay (0.4 mi)
  • Quintrell Downs (2.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Newquay (0.4 mi)
  • Quintrell Downs (2.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26700061. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Miller Commercial, Truro. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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