Investment Consideration:
Gross Initial Yield: 9.58%
Rental Income: £9,100 p.a.
VAT is NOT applicable to this property
Comprises two-storey retail premises
Total GIA 105 sq m (1,130 sq ft)
Suitable for variety of uses (Class E)
Situated in the heart of the town centre with occupiers nearby include British Heart Foundation, Clarks, EE, Jewellers, Café, Pharmacy, Takeaway and many more.
Property Description:
Comprises mid-terrace ground floor shop with internally accessed ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 56 sq m (603 sq ft)
Open plan retail
First Floor: 49 sq m (527 sq ft)
Open plan office, kitchen, wc
Total GIA: 105 sq m (1,130 sq ft)
Tenancy:
The entire property is at present let to an Individual for a term of 4 Years from 24th February 2026 at a current rent of £9,100* p.a. and the lease contains full repairing and insuring covenants. Deposit held of £2,250. Tenant option to determine on 24.02.28 with min 6 months notice.
*Tenant pays reduced rent of £6,500 p.a. for Year 1 and £7,800 p.a. for Year 2. The vendor will top up rent, so the buyer receives the equivalent to £9,100 p.a. from completion.
Location:
St Austell, with a population of c. 34,000, is a busy and popular tourist town being home to the Eden Project. The town is located 13 miles north-east of Truro, 33 miles west of Plymouth and 11 miles south of Bodmin. The town centre is served by the A390 and A391, which in turn joins the A30 and A38 dual carriageways 7 miles to the north of the town. Occupiers nearby include British Heart Foundation, Clarks, EE, Jewellers, Café and many more.
