Commercial Development for sale

17, Edgcumbe Road, Roche, St Austell

Offers in Region of £70,000
580 sq. ft.

Property Description

Key features

  • RETAIL INVESTMENT FOR SALE
  • PROMINENT POSITION
  • 10 YEAR LEASE COMMENCED 19/03/2012
  • PASSING RENT 6,000 PA
  • NET INITIAL YIELD 8.42%
  • EPC C71
  • NOT ELECTED FOR VAT

Full description

A rare opportunity to acquire the long leasehold interest in an investment property. Sales area of 580 sq ft (54 sq m) plus ancillary accommodation.
The property comprises a ground floor lock up retail unit which is situated close to the village centre. Other occupiers nearby include a fast food take away, butchers, Co-Operative food store amongst other village amenities.

Location - Roche is a busy village in mid Cornwall with favourable transport links to the A30 (Cornwall's main trunk road) and the B3274 providing a direct link to nearby historic market town of St Austell. Roche also has a train station on the Newquay - Par branch line, Par is on the Penzance - Paddington mainline. The village provides a range of amenities including a doctors surgery, primary school, butchers, convenience store, Co Operative food store, Chinese take away etc. The nearby Cornwall Services provides a wide range of facilities including WHSmiths, Costa Coffee, McDonalds etc.

Situation - The subject property is situated close to the heart of the village in a prominent position next to the roundabout with parking available in the layby to the front.

Description - The property comprises a ground floor retail unit. Internally, the unit provides a well configured retail area with associated ancillary accommodation and welfare facilities.
Two treatment rooms have been created using demountable partitioning.

Schedule Of Accommodation - Ground floor retail
Approximately 580 sq ft (54 sq m)

Covenant Information - Let to Candy Louise Exell.
Trading as a beauty salon offering a wide range of treatments.

Lease Terms - The property is let on a 10 year full repairing and insuring lease from 19th March 2012, expiring 19th March 2022, at a passing rent of £6,000 per annum. An additional charge is paid by the current tenant towards the Management
Company/ service charge costs, which is currently set at £468 per annum.

Tenure - Long Leasehold: The property will be held on a new 999 year lease.

Management Company/Service Charge - The management company owns the freehold interest of 17 Edgcumbe Road which comprises the retail unit and 6 residential flats. Each owner contributes towards the maintenance, buildings insurance and repair of the structure and is a member of the management company. Additional information available upon request.

Use Class - A1/B1 only. There will be a restriction in the head lease which provides that the premises can be used for A1 (retail) or B1 (office) use only.

Proposal - We are instructed to seek offers in excess of £70,000 (Seventy Thousand Pounds) for our client's long leasehold interest in this property, subject to contract. This reflects an attractive net initial yield of 8.42% after allowing for standard purchaser's costs of 1.8%.

Epc - The EPC for this property is band C71.

Vat - All the above prices/rentals are quoted exclusive of VAT, where applicable.
We have been advised this property is not elected for VAT.

Further Information - For further information or an appointment to view please contact sole agents Miller Commercial on:-
Thomas Hewitt on 01872 247025 or via email th@miller-commercial.co.uk
or Thomas Smith on 01872 247013 or via email ts@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

Nearest stations

  • Roche (0.8 mi)
  • Bugle (2.0 mi)
  • Luxulyan (4.0 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

  • Roche (0.8 mi)
  • Bugle (2.0 mi)
  • Luxulyan (4.0 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 27370741. 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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