COMMERCIAL
Cliff Road, Newquay
£259,950
- PROPERTY TYPE
Commercial Property
- BEDROOMS
4
- BATHROOMS
3
- SIZE
Ask agent
Key features
- 3 self-contained flats let on assured shorthold tenancies
- Gas central heating to 2 flats, electric heating to Studio
- Double glazing
- Council tax & services paid by tenants
- Fully let and managed on AST’s
- Gross income £18,240 per annum
- Town Centre Location above a Cocktail Bar
- Available immediately, with tenants
- Over 7% gross return on purchase price from day one
- New roof as of April 2023
Description
TURNKEY INVESTMENT PROPERTY IN NEWQUAY TOWN CENTRE COMPRISING 3 RESIDENTIAL UNITS ON THE FIRST AND SECOND FLOORS, FULLY LET WITH A GROSS INCOME OF £18,240 PER ANNUM
Front door off Cliff Road with a staircase to the upper floors.
No.1 First Floor Studio Apartment Let At £375Pcm - STUDIO 13'3 x 13'2 (4.04m x 4.01m)
Irregular shaped maximum measurements. Fitted kitchen area. Full height uPVC double glazed door to the rear decking at the rear of the premises in a south facing sunny position with metal balustrade.
EN-SUITE SHOWER ROOM
Pedestal basin. WC. Shower cubicle with shower heated by independent electric water heater. Ceiling extractor fan. Electric towel rail. Half glazed tiled walls.
No.2 First Floor 1 Bed Apartment Let At £550Pcm - SHOWER ROOM & WC
Fully tiled shower cubicle with shower off boiler. Pedestal basin. WC. Half glazed tiled walls. Ceiling downlights. Recess for washing machine.
BEDROOM 12'1 x 9'9 (3.68m x 2.97m)
Measurement does not include the built-in double door wardrobe. Laminated flooring. Double glazed front window. Radiator. Cupboard housing gas boiler providing the central heating and hot water for this apartment.
LOUNGE/KITCHEN 18' x 10'8 (5.49m x 3.25m)
Modern laminated flooring throughout. Lounge section with full width front double glazed windows. 2 radiators. Fitted dining table. Fitted kitchen section.
No.3 Second Floor 2 Bed Apartment Let At £595Pcm - Door to the:
L-SHAPED ENTRANCE HALL
Radiator.
LOUNGE 15'1 x 13'10 (4.60m x 4.22m)
Wide double glazed window providing access onto the front balcony. Radiator.
KITCHEN 11'8 x 5'7 (3.56m x 1.70m)
Fitted kitchen. Double glazed rear aspect window.
BEDROOM NO.1 3'7 x 8'8 (1.09m x 2.64m)
Irregular shaped maximum measurements. Front aspect double glazed window. Radiator.
BEDROOM NO.2 8'10 x 15'3 (2.69m x 4.65m)
Radiator. Rear aspect double glazed window.
SHOWER ROOM/WC
Fully tiled shower cubicle with shower off boiler. WC. Pedestal basin. Radiator. Half tiled walls.
Services - All mains
Tenure - Leasehold. 999 year lease from the 5th January 2007. A reciprocal maintenance and insurance arrangement is in place with the owners of the ground floor commercial premises (split 1/3 shop 2/3 uppers).
The freehold is jointly owned by the 2 independent owners, with this share of freehold also being included in the sale.
Council Tax - Unit 1 - Band A - paid by tenant Unit 2 - Band A - paid by tenant Unit 3 - Band A - paid by tenant
Vacant Possession - The property is sold as an ongoing investment subject to the Assured Shorthold Tenancies granted. VACANT POSSESSION IS NOT AVAILABLE UPON SALE.
The Tenants - Flat 1- Occupied since July 2018. 12 month AST 15/01/2021 to 15/01/2022
Flat 2 – Occupied since November 2020. 12 month AST 01/11/20 to 01/11/2021
Flat 3 – Occupied since December 2019 – Statutory Periodic Tenancy (rolling tenancy)
Epc - Rating - D
Front door off Cliff Road with a staircase to the upper floors.
No.1 First Floor Studio Apartment Let At £375Pcm - STUDIO 13'3 x 13'2 (4.04m x 4.01m)
Irregular shaped maximum measurements. Fitted kitchen area. Full height uPVC double glazed door to the rear decking at the rear of the premises in a south facing sunny position with metal balustrade.
EN-SUITE SHOWER ROOM
Pedestal basin. WC. Shower cubicle with shower heated by independent electric water heater. Ceiling extractor fan. Electric towel rail. Half glazed tiled walls.
No.2 First Floor 1 Bed Apartment Let At £550Pcm - SHOWER ROOM & WC
Fully tiled shower cubicle with shower off boiler. Pedestal basin. WC. Half glazed tiled walls. Ceiling downlights. Recess for washing machine.
BEDROOM 12'1 x 9'9 (3.68m x 2.97m)
Measurement does not include the built-in double door wardrobe. Laminated flooring. Double glazed front window. Radiator. Cupboard housing gas boiler providing the central heating and hot water for this apartment.
LOUNGE/KITCHEN 18' x 10'8 (5.49m x 3.25m)
Modern laminated flooring throughout. Lounge section with full width front double glazed windows. 2 radiators. Fitted dining table. Fitted kitchen section.
No.3 Second Floor 2 Bed Apartment Let At £595Pcm - Door to the:
L-SHAPED ENTRANCE HALL
Radiator.
LOUNGE 15'1 x 13'10 (4.60m x 4.22m)
Wide double glazed window providing access onto the front balcony. Radiator.
KITCHEN 11'8 x 5'7 (3.56m x 1.70m)
Fitted kitchen. Double glazed rear aspect window.
BEDROOM NO.1 3'7 x 8'8 (1.09m x 2.64m)
Irregular shaped maximum measurements. Front aspect double glazed window. Radiator.
BEDROOM NO.2 8'10 x 15'3 (2.69m x 4.65m)
Radiator. Rear aspect double glazed window.
SHOWER ROOM/WC
Fully tiled shower cubicle with shower off boiler. WC. Pedestal basin. Radiator. Half tiled walls.
Services - All mains
Tenure - Leasehold. 999 year lease from the 5th January 2007. A reciprocal maintenance and insurance arrangement is in place with the owners of the ground floor commercial premises (split 1/3 shop 2/3 uppers).
The freehold is jointly owned by the 2 independent owners, with this share of freehold also being included in the sale.
Council Tax - Unit 1 - Band A - paid by tenant Unit 2 - Band A - paid by tenant Unit 3 - Band A - paid by tenant
Vacant Possession - The property is sold as an ongoing investment subject to the Assured Shorthold Tenancies granted. VACANT POSSESSION IS NOT AVAILABLE UPON SALE.
The Tenants - Flat 1- Occupied since July 2018. 12 month AST 15/01/2021 to 15/01/2022
Flat 2 – Occupied since November 2020. 12 month AST 01/11/20 to 01/11/2021
Flat 3 – Occupied since December 2019 – Statutory Periodic Tenancy (rolling tenancy)
Epc - Rating - D
Brochures
Cliff Road, NewquayBrochureCliff Road, Newquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Newquay Station0.1 miles
- Quintrell Downs Station2.2 miles
Notes
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