Penpol Terrace, Hayle, TR27 4BQ
- PROPERTY TYPE
Commercial Property
- BEDROOMS
12
- BATHROOMS
6
- SIZE
Ask agent
Key features
- TWO GROUND FLOOR RETAIL UNITS
- SIX RESIDENTIAL FLATS
- 12 GARAGES
- SHORT STAY RETAIL PARKING
- VIEWS OVER THE HARBOUR AND ESTUARY
- INVESTMENT OPPORTUNITY
- CENTRAL LOCATION
- UNIQUE OPPORTUNITY
- EPC'S = D, D, D, D, E & E * COMMERCIAL EPC'S = C & C
Description
Available for the first time since construction is this mixed retail/residential building offering two retail units, six residential flats and twelve garages which are all currently occupied. A unique investment opportunity with direct views to the front over Hayle harbour and the estuary beyond. The development is based within the Foundry area of the town within close proximity to the railway station, car park and bus stops.
Property additional info
RETAIL:
MORRISONS LOCAL:
10 year lease commencing 17th August 2021 at £22,500 per annum on proportional full repairing and insuring terms. The tenant has the option to determine the lease at the end of the fifth year by giving due notice. The lease contains five yearly upward only rent reviews.
D/P REALITY (T/A DOMINOES)
20 year lease commencing 8th December 2015 at present passing rent of £22,000 per annum. The tenant is responsible for all internal repair and decoration and contribution to insurance. There is a tenant break clause at the end of the fifth year, tenant has the benefit of a break clause with effect from 7th December 2025 by giving prior notice. The rent reviews are fixed with the agreed rent effective from 8th December 2025 increasing to £26,000 per annum and with effect from 8th December 2030 to £28,000 per annum. There is an option for the tenant to extend the lease.
SIX RESIDENTIAL FLATS
The six residential flats are located on the first and second floors, all let under Assured Shorthold Tenancies producing an annual income of £57,000. They are all of an identical layout, incorporating two bedrooms, lounge, separate kitchen area and bathroom. The flats all enjoy superb views of the harbour, towards Lelant and Porthkidney Beach.
TWELVE GARAGES:
To the rear of the development are two blocks of garages, a block of five and a block of seven. Each flat has the use of one, plus one each for the shops. The other four are rented out at a cost of £20.00 per week, equating to a total income of approximately £4,160 per annum.
SHORT TERM SHARED PARKING:
Short term parking to the front of the development benefitting the retail units.
INCOME:
Total rental income at present is approximately £105,720 per annum increasing to £109,720 per annum in 2025.
LOCATION:
The development is located within the retail area in the Foundry part of the town, close to the railway station, the carpark, and bus stops. On the North Coast at the head of the Estuary. A popular tourist destination and within easy reach of St Ives and all main tourist attractions in the area.
AGENTS NOTE:
The property is constructed of block under a slate roof. The mobile signal with EE is adequate. We understand from Openreach.com that superfast fibre is available to the premises.
Penpol Terrace, Hayle, TR27 4BQ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Hayle Station0.1 miles
- Lelant Station0.7 miles
- Lelant Saltings Station1.1 miles
It's Your Choice!!!
Why you should choose South-West Cornwall's leading local independent agent to sell your property?
Marshall's Estate Agents
have been in the local area for over 25 years offering a wealth of experience in all aspects of the property market.
- Free Valuations.
- Wealth of local knowledge.
- Private marketing service available.
- local offices and over 1,300 nationwide through The Guild of Professional Estate Agents & National Association of Estate Agents.
Zoopla & Rightmove premium listings.
Competitive fees ( NO SALE -NO FEE ).
London Office In Mayfair.
Fully trained staff.
Letting department
Member firm of the National Association of Estate Agents.
Personalised video for every property.
1000s of genuine buyers matched to your home in seconds.
- Accompanied viewings.
- Regular feedback.
- National marketing with global links.
- full colour sales particulars.
- Close liaison with all solicitors.
- Own website on www.marshallspz.co.uk
Contact us today
- Penzance 01736 360203
- Mousehole 01736 731199
- Hayle 01736 756627
- Fine Homes 01736 360203
- Lettings 01736 366778
Notes
Disclaimer - Property reference H18. 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 Marshalls Estate Agents, Penzance. 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.