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Commercial Development for sale

Business Opportunity, Penstraze Business Centre, Truro, Cornwall

Guide Price 442 sq. ft. | £350,000

Property Description

Commercial information

  • 442 sq ft (41 sq m)

Key features

  • OFFICE INVESTMENT
  • WELL LOCATED FOR TRURO AND A30
  • CURRENTLY PRODUCING IN EXCESS OF 95,000 PAX.
  • SCOPE TO EXPAND THE HOSTED VIRTUAL OFFICE OFFERING
  • RETIREMENT SALE
  • EPC RATING - BAND E

Full description

A modern office investment located in an attractive rural setting adjoining the A390 approximately 6 miles from Truro City Centre and less than a mile from the A30/Chiverton Cross Junction. The development includes 14 offices which are all occupied together with a number of virtual offices which are hosted addresses and phone services. The premises currently benefit from an income of circa £95,000 per annum although there is scope to further improve this by growing the hosted office service.

Description - The development was created in 1998 and represents a modern business environment in character premises in a rural setting. The building is fully occupied and currently produces a rental income, including communications packages, of just over £78,807 per annum for the year ending 05/04/2016. This includes an income of circa £8,028 per annum for virtual offices which provide services tailored to the users' needs potentially including post handling, remote or hosted telephony and occasional room hire.
Broadband is provided by a fibre-optic leased line with a 40 mb connection.

For Further Details on the Business Centre visit our client's website:-
http://www.penstrazebusinesscentre.co.uk/

Location - The Business Centre is situated adjoining the A390 which links the A30 with Threemilestone, Treliske and Truro. The Centre is situated less than a mile from Chiverton Cross and 5 miles from Truro Railway Station. Truro Airfield is situated within a 5 minute walk.

Accommodation/Rental Income - Suite 1 320 sq.ft £7740 per annum
Suites 2/3 513 sq.ft £12,900 per annum
Suite 4 442 sq.ft £10,200 per annum
Suite 5 288 sq.ft £16200 per annum
Suite 6 202 sq.ft £5,320 per annum
Suite 6a 264 sq.ft £6,600 per annum
Suite 7 109 sq.ft £3,420 per annum
Suite 8a 111 sq.ft meeting room - let on an hourly basis
Suite 8b 141 sq.ft £4,080 per annum
Suite 9 336 sq.ft £6,500 per annum
Suite 10 321 sq.ft £6,960 per annum
Suite 11 383 sq.ft £8,160 per annum
Suite 12 305 sq.ft £7,440 per annum
Total lettable Area 3734 sq.ft (349 sq.m)
Outside - Parking for 26 vehicles.
Total Current Rental Income £95,240 per annum (excl. VAT) .
Floor plans available by email upon request.
All tenancies are subject to one month's written notice at any time. A copy of the standard agreement is available upon request.
The above figures include a communication charge of £100 per unit per month which includes the provision of data and phone calls (up to 500 mins) together with 2 handsets per office.

The Business - Established in 1998 by the current owner it is run by him on a part time basis with the assistance of a part time administrator. Actual Income for the year ending 5th April 2016 was £88,807.

A copy of the abridged profit and loss accounts will be made available to interested parties following a viewing.

Vat - VAT will be payable on the purchase of this asset. The figures quoted are exclusive of VAT.

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. Business Rates are paid by the landlord as the premises are let on an inclusive basis.

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

Heating is provided by way of an LPG Fired Boiler and drainage by way of a septic tank.
Broadband is currently provided by way of a fibre optic leased line to 40 Mb with potential to expand to 100Mb.

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

Energy Performance Certificate - The Energy Performance Certificate relating to this property is available via our website www.miller-commercial.co.uk by clicking on the property details under the property search screen. It currently has a Band E rating.

Contact Information - For further information or an appointment to view please contact Mike Nightingale on 01872 247008 or via email msn@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.


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