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Commercial Property for sale

Penstraze, Chacewater, Truro, Cornwall, TR4

Under Offer £350,000

Property Description

Key features

  • Converted Barn
  • Reception Area
  • 13 Office Suites
  • Further Offices & Meeting Rm
  • 3,735 sq ft (347.03 sq m)
  • .56 Acre Site (.28 Ha)
  • High Potential Income
  • Excellent Location

Full description

Well located freehold office investment opportunity. Converted barn. Reception area. 13 Office Suites . Further offices & meeting room. 3,735 sq ft (347.03 sq m) .56 acre site (.28 ha). High potential income. Excellent location.

Joint Agents - Alder King Property Consultants, Highwater House, Malpas Road, Truro, Cornwall TR1 1QH. Telephone: 01872 227005, e-mail: tduncan@alderking.com FAO: Mr T Duncan.

Situation - The property is located about 4.5 miles from the centre of the City of Truro (2.5 miles from Treliske Retail Park, Treliske Hospital and Truro College) which is the main administrative centre for Cornwall. It is situated off the A390 which is one of the principal routes leading into Truro from the A30(T). The A30(T) itself is about 1.3 miles to the northwest and is the main arterial route through the county. Truro has a mainline railway station and Newquay Airport is about 21 miles distant.

Desription - The sale of Penstraze Business Centre offers an opportunity to purchase an income producing serviced office building which is approached over it's own access road. Set in an attractive rural environment, the centre offers businesses in a modern working environment with excellent access and communications.
 
The Centre comprises a detached converted and extended barn which now accommodates 13 individual office suites over two floors. In addition to the offices, there is a communal meeting room and reception area.
 
The grounds of the business centre (approximately 0.56 acres/0.26 Ha) will include part of the adjacent paddock for potential future expansion of the car park.
 
NB: If desired, it may be possible to purchase an adjoining pasture paddock which extends to about 0.88 of an acre (0.36 Ha)

The Business - The business was established in 1998 by the current owner and is run on a part-time basis with the assistance of a part-time administrator. When fully occupied, the building produces a gross rental income, including communications packages of just over £91,000 per annum. In addition, there is an income of circa. £3,000 p.a from virtual offices which provide services tailored to the users' needs, potentially including post handling, remote or hosted telephony and occasional room hire.
 
Abridged Profit and Loss accounts are available upon application. The projected net profit for the year ending 5th April 2014 (excluding the cost of part-time administrator) show a profit of £46,515 (2013 £22,089) following increased occupancy rates and reduced costs.
 
The Business Centre's website address is www.penstrazebusinesscentrew.co.uk.

Accommodation - (with approximate room measurements shown on floor plan)
 
Net Internal Areas (offices measured into eaves) are set out in the table attached below.
 
NB: If desired, it may be possible to purchase an adjoining pasture paddock which extends to about 0.88 of an acre at a price to be agreed in addition to the purchase price.

Inventory - An inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied prior to exchange of contracts.

Viewing - Strictly and only by prior appointment with Stags' Truro office on 01872 264488 or the joint agents, Alder King Property Consultants 01872 222174.

Directions - From Truro take the A390 westwards towards Redruth. Drive out of the city and at the end of the Threemilestone by-pass dual carriageway, at the roundabout go straight over continuing on the A390 towards Redruth. Pass Britannia Removals, ignore the next turning to the left towards Chacewater and after about a further 100 yards, bear left by the timber C-Vets building. Drive for about 5 yards, bear to the left and to the private driveway to the offices.

Services - Mains water, private drainage and LPG gas central heating (shared) are currently connected. All offices have access to a leased fibre optic broadband line with a 100 mb connection. Mains electricity connected. The services have not been tested and we advise all interested parties to make their own enquiries with the necessary statutory authorities.

Tenure - Freehold.

Guide Priice - Penstraze Business Centre - £350,000 plus VAT (VAT is chargeable on the sale of this property).

Business Rates - We understand from enquiries from the Valuation of Estate Agency's website (www.voa.gov.uk) that the office premises have been assessed for non-domestic rating purposes with a rateable value of £25,000. Business Rates are paid by the Landlord as the office suites are let on an inclusive basis. Interested parties should make their own enquiries to the local rating authority, Cornwall Council, on 0300 1234171, e-mail: revenues@cornwallgov.uk to ascertain the exact Business Rates payable.

Asbestois Regulations - It is the responsibility of the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining it to comply with the Control of Asbestos Regulations 2006 (CAR 2006). The detection of asbestos or asbestos related compounds is beyond the scope of Alder King/Stags and accordingly we recommend that purchasers obtain advice from a specialist source.

Energy Performance Certificates - Penstraze Business Park has a non domestic EPC Rating E (107) and the house a domestic EPC rating F (24). A copy is available for inspection upon request.

These particulars are a guide only and should not be relied upon for any purpose.


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