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COMMERCIAL

Newquay, Cornwall, TR7

Offers Over
£350,000
Pilkington Estates, Stoke
PROPERTY TYPE

Commercial Property

BATHROOMS

2

SIZE

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Key features

  • Freehold mixed-use investment in the heart of Newquay
  • Passing rent of £16,070 per annum from commercial tenants, plus residential ground rents and service charges
  • Fully let commercial premises providing secure income
  • Additional ground rent and service charge income from six apartments within the building
  • Additional ground rent and service charge income from six apartments within the building

Description

Situated in the vibrant coastal town of Newquay, this freehold investment presents an excellent opportunity to acquire a well-let and income-producing property in one of Cornwall’s most popular seaside destinations. Newquay is renowned for its beaches, surf culture and strong year-round tourism, supporting a diverse and growing local economy. The property occupies a convenient position on Beachfield Avenue, within easy reach of the town centre and seafront.

The property is fully let on two commercial leases, providing a secure and stable rental income. One lease is held on a 7-year term from June 2021, with the next rent review in June 2027 and an open market review in June 2028, producing an annual rent of £10,070. The second lease is held on a 5-year term from May 2022, expiring in May 2027, producing £6,000 per annum.

In addition to the commercial income, the freehold includes the reversionary interests in six residential apartments within the building. These each pay ground rent and contribute towards service charges, creating an additional and consistent income stream.

In total, the property produces a passing rent of £16,070 per annum from the commercial leases, together with the ground rents and service charge contributions from six apartments, with potential for further growth through upcoming rent reviews.

Key Financials


Commercial Lease 1 Rent: £10,070 pa

Commercial Lease 2 Rent: £6,000 pa

Total Commercial Passing Rent: £16,070 pa

Residential Income: Ground rents and service charges from 6 apartments

Lease Expiries: 2027 / 2028

Tenure: Freehold

This is a rare opportunity to acquire a freehold investment in Newquay, combining secure commercial income with the added benefit of residential ground rent and service charge contributions, all within a thriving coastal town that continues to attract both residents and visitors alike.

Newquay, Cornwall, TR7

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Newquay Station0.4 miles
  • Quintrell Downs Station2.6 miles
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About Pilkington Estates, Stoke

Harscombe House 1Darklake View, Plymouth, PL6 7TL

Buying and selling property is both an art and a science. In the 21st century, the world of estate agency has blossomed in the digital environment, leaving many traditional firms left standing, eyeing the technology with confusion and suspicion rather than embracing it. The team at Pilkington Estates are digital natives, embracing everything the modern world has to offer to help present your home in the best possible light, and using technology to get the right message to the right buyer at the right time.

This contemporary, no nonsense approach is balanced by a sensitivity and empathy towards their customers, both buyers and sellers, that allows us to offer a truly one to one bespoke service.

We understand that every customer is different, and each client has different needs and requirements, so will customise any modern method of selling to suit individual requirements.

Whether you are an old hand with multiple sales under your belt, or whether you are selling a much loved family home for the first time, Pilkington Estates are careful to hand hold you through the process as much or as little as you need.

We can help keep your house hunting enthusiasm burning with intelligent recommendations or can take the strain of the entire relocation process by doing all the running around that you are too busy to do.

We sit comfortably in this fast-paced world, understanding your need for urgency. We bring an energy and confidence to the whole buying and selling process that will get the job done without the drama.

This is not an agency that likes to sit around waiting for the phone to ring!

Notes

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Disclaimer - Property reference PLK_STH_LFSYCL_1072_1234453539. 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 Pilkington Estates, Stoke. 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.

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