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90 Market Jew Street, Penzance, Cornwall, TR18

Fixed Price
£200,000

£164.47 per sq ft

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE

1,216 sq ft

113 sq m

SECTOR

High street retail property for sale

USE CLASSUse class orders: Class E

E

Key features

  • Rental Income: £17,500 p.a.
  • Gross Initial Yield: 8.75%
  • Comprises two storey retail premises with rear yard, t/a British Heart Foundation
  • Future residential development potential of the upper floor, subject to planning

Description

Investment Consideration:
Gross Initial Yield: 8.75%
Rental Income: £17,500 p.a.
VAT is applicable to this property
Comprises two storey retail premises with rear yard, t/a British Heart Foundation
Let on a new 5-year lease expiring 2029. Tenant in occupation since 2012
Future residential development potential of the upper floor, subject to planning
Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, RNLI Shop & Iceland amongst others.

Property Description:
Comprises two storey retail premises t/a British Heart Foundation, arranged as a ground floor open plan retail with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 82.70 sq m (890 sq ft)
Open plan retail, kitchen, storage
First Floor: 30.30 sq m (326 sq ft)
Ancillary accommodation
Total area size: 113 sq m (1,216 sq ft)

Tenancy:
The property is at present let to British Heart Foundation* on a new reversionary lease of 5 Years from 29th September 2024 at a current rent of £17,500 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine in the 3rd year with min 6 months notice. Tenant in occupation since 2012.
* British Heart Foundation operates 690 stores throughout the UK. Website: (). For the year ended 31 March 2023 British Heart Foundation reported a total income of £361.7M, total expenditure of £350.5M and total funds held of £125.6M.

Location:
Penzance is a market town and a well established tourist centre on the Cornish Peninsular. The town is bordered to the north and east by the A30, a key arterial route through the South-West of England providing direct access to the M5 Motorway and A303. Penzance rail station is within 265 metres of the property providing direct services to London Paddington, Bristol and Exeter. The property is situated on the south side of Market Jew Street, at its junction with New Town Lane. Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, RNLI Shop & Iceland amongst others.

Brochures

90 Market Jew Street, Penzance, Cornwall, TR18

Approximate location
Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Penzance Station0.1 miles
  • St. Erth Station5.3 miles
  • Lelant Saltings Station5.7 miles

About Blue Alpine, London

54 Welbeck Street, London W1G 9XS

Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.

Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.

We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.

Together, we unlock potential.

Notes

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Disclaimer - Property reference 90marketjew. 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 Blue Alpine, London. 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.

Map data ©OpenStreetMap contributors.

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