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Commercial Property for sale

Fore Street, Redruth, Cornwall

£200,000

Property Description

Full description

Tenure: Freehold

Fully Let Residential & Commercial Investment Opportunity in Redruth

We are delighted to offer this recently refurbished property that has been split into three, one bed flats with an additional small retail space on the ground floor. The property has been completed to a high specification to meet current building regulations.

This is a good investment opportunity with all the apartments let on Assured Shorthold Tenancy basis returning £20,060 pa which includes the retail space now let.

The properties have been completed within the last two years and are now let on 6 monthly Assured Shorthold Tenancy basis and bringing in a lucrative annual return. The retail space is the only element of the property that is not presently let but this has not been properly marketed and would suit a new business.

LOCATION

The property is situated on Fore Street in Redruth which is the main shopping street in Redruth. The property is centrally located for ease and convenience for tenants living in this popular Cornish town. Redruth is centrally located within West Cornwall and has a train station and good bus links to all Cornish towns.

OPPORTUNITY

The investment property has 3 x 1 bed flats that are all let on 6 monthly Assured Shorthold Tenancy basis and have been easy to let due to their high specification. The properties are accessed through a secured door fronting Fore Street into an alleyway where access to two of the flats is gained. Further along the alleyway is access to a newbuild extension which now forms an attached self contained flat with garden.

The flats are on three floors,
Flat 1 Ground Floor- Rental £5,460 pa
Flat 2 First Floor- Rental £6,240 pa
Flat 3 Second Floor- Rental £5,720 pa

Retail Let on a 6 monthly agreement and are paying a rental of £2,640 pa

Total Rent- £20,060 pa

Flat 1- New build unit with existing tenant in situ, this property is well looked after and has all recent building regulation approvals. The property has the additional benefit of an intercom system. The property is made up of a lounge/ kitchen and is situated on the ground floor and has the benefit of a garden to the rear.

Flat 2- Situated on the first floor. The kitchen has modern wall and floor units with gas oven and stainless steel sink and taps. The lounge is of a comfortable size, with large windows overlooking Fore Street. Separate bedroom with built in cupboard for boiler and storage space and shower room ensuite.

Flat 3- This unit is on the second floor and is the same layout as that of Flat 2. This unit is within the roof space and has limited headroom around the edge of the property. The flat has a nice feel to it and has character. Modern kitchen and lounge and separate bedroom with shower room.

All the accommodation is in good condition and has been well maintained by the present tenants. This is a lucrative investment and one that is offering a better return than banks are currently offering.

As previously mentioned the property has been refurbished to a high standard. Each flat consists of kitchen lounge/ diner and separate bedroom with shower ensuite. Good size windows fronting Fore Street allowing a good source of natural light.

Viewing is a must for those investors in the market place.

Energy Performance Certificate (EPC) graphs

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