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Concho Lounge Investment, 16 Bank Street, Newquay

£800,000

Business rates & charges may apply

Miller Commercial, Commercial Agency
SIZE

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SECTOR

Commercial development for sale

Key features

  • PRIME TOWN CENTRE INVESTMENT
  • LET ON A TERM TO EXPIRE 7TH DECEMBER 2030 (6.5 YEARS REMAINING)
  • OUTSTANDING COVENANT OF LOUNGERS LTD
  • INCOME OF £60,000 PA
  • REPRESENTS ATTRACTIVE 7.11% NIY ALLOWING FOR PURCHASERS COSTS OF 5.49% (INCL STAMP DUTY AND FEES). GROSS YIELD OF 7.5%
  • EPC RATING - E (103)

Description

Opportunity to purchase the investment of Loungers in a prime location in the centre of Newquay. Let for a term to expire on 7th December 2030, this investment provides an income of £60,000 per annum. the Tenant occupies the ground and first floors, with the benefit of a large beer garden and external bar to the rear. The upper floor flats will be retained on a long leasehold at the same time as the freehold sale.

Brochures

Concho Lounge Investment, 16 Bank Street, Newquay

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Newquay Station0.1 miles
  • Quintrell Downs Station2.3 miles

About Miller Commercial, Commercial Agency

Mansion House Princes Street, Truro, TR1 2RF

Chartered Surveyors and Business Property Specialists

As Chartered Surveyors and Business Property Specialists we offer market leading services across Cornwall, the wider South West and the UK as a whole. We specialise in investment and development, sales and acquisitions, business transfer, valuation and lease consultancy, property management, leasing and letting.

Retained Clients

A significant number of high worth individuals retain our services ready to invest when the right opportunity occurs. Most are looking for £1m+ investments putting us in an advantageous position when we are instructed by those keen to sell high end commercial properties, businesses, and development opportunities across the South West.

Expertise & Market Knowledge

Clients are attracted by our breadth of experience, depth of knowledge, and the sheer number of transactions we successfully conclude across all commercial property sectors at all price points. Our Partners lead a growing and dedicated team of professionals and support staff who are loyal to the business. We all strive to deliver the best advice, client care and market intelligence, and of course, knowledge. Miller Commercial complies with the Royal Institution of Chartered Surveyors Rules of Conduct, Manual of Estate Agency and Practice and, in addition, operates its own Quality Assurance procedures.

Multi-Disciplines

Our dynamic multi-disciplinary business model of specialist departments enables us to respond promptly to clients' needs and ensures we offer them the very best advice and service.

Award Winning

In August 2020 Estates Gazette awarded us the accolade of ‘Cornwall’s Most Active Agent’ for a remarkable 10th successive year.

Notes

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