Higher Market Street,Looe,Cornwall,PL13 1BP

This is an exciting opportunity to acquire a freehold investment property benefitting from an established commercial tenant on the Ground Floor, occupying the premises by way of a 20 year lease at a current passing rental of £10,000 per annum. The upper parts of the building are sold away on long leaseholds (999 years).    

Location

Looe is a picturesque fishing village on the South Cornish Cornish coast that is a popular year round tourist attraction. The subject property is centrally located within the village and the tenant on the ground floor runs a successful and long established restaurant.

Lease Schedule

Ground Floor: Currently occupied by a local restauranteur by way of a 20 year, proportional repairing and insuring lease at a passing rental of £10,000 per annum, payable monthly in advance. 

First & Second Floor Apartments: Each of the two residential apartments are occupied by way of 999 year leases which commenced on the 1st October 2001, subject to a basic annual rent of £50 per annum and a service charge to contribute 33% each towards the upkeep and insurance of the building.

Copies of the aforementioned leases are available from the selling agent upon request.

EPC: Ground Floor 78D (First & Second Floor N/A)

General Information

Consumer Protection from Unfair Trading Regulations 2008.

WE STRONGLY advise all parties to confirm and check title documents, build warranties, services / utilities and any covenants which may or may not apply, immediately after agreeing a purchase. Our adverts do not form part of a contract and must NOT be relied upon. All buyers MUST also VERIFY the Council Tax band and broadband speeds to satisfy themselves rather than rely on our information – which is subject to change.

Goundrys have not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. Measurements are a GUIDE ONLY. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.

ANTI-MONEY LAUNDERING REGULATIONS – Purchasers
In accordance with legal requirements, we must obtain verified identification from all buyers before a sale can proceed. We kindly ask for your cooperation to help avoid any unnecessary delays. Full details of the verification process will be provided once your offer has been accepted.

PROOF OF FINANCE – Purchasers
Before a sale can be agreed, we will require proof of your financial ability to proceed with the purchase. Your cooperation is appreciated to ensure the process runs smoothly. We will advise you of the specific documentation required prior to finalising the sale.