Property for saleHigh Street, Falmouth
- EPC Band E (Non Domestic) and Band E (Domestic)
- For Auction on 25/07/18 at 2pm
- At Penventon Park Hotel (unless prior)
- Mixed Use Investment Property
- Needs some Improvement
- Ground Floor Gross Yield £20,800 per annum
- Upper Floors with 8 Bedroom Accommodation
- Informal Letting Arrangement on Upper Floors
- Potential to Increase Yield
- SEE ADDITIONAL FEES NOTES
OVERVIEW A substantial "mixed use" investment property situated close to town centre and in need of some improvement. The ground floor is occupied by the Thai Orchid restaurant and their rent is currently £20,800 per annum (gross). The upper floors are arranged as 8 bedroom residential accommodation and currently some bedrooms are let on an informal basis. The property has undergone some refurbishment and improvement in recent times but further improvement would be beneficial. There maybe potential to redevelop this building (subject to planning permission).
AUCTIONEERS NOTE We believe a new business lease is being drawn up to regularlise the ground floor letting arrangements and we expect this new lease to form part of the auction legal pack.
SUMMARY OF ACCOMMODATION
GROUND FLOOR Restaurant / dining area, commercial kitchen, store and toilets.
FIRST FLOOR Living room, bedroom, bathroom and kitchen.
SECOND FLOOR Six bedrooms, bathroom and kitchen.
THIRD FLOOR Bed / sitting room, shower room and kitchenette.
OUTSIDE There is access to a small outside space from the third floor room.
VIEWINGS There will be regular viewing sessions in the lead up to the auction. Please telephone joint auctioneers Harding and Wakefield T: 01326 450020 or Auction House Devon and Cornwall T: 01392 455928 to arrange an appointment.
SOLICITORS Grylls & Paige Solicitors, Bank House, West End, Redruth, TR15 2SD T: 01209 215261 Attn: Mark Hayward E: firstname.lastname@example.org
ADDITIONAL FEES *ADMINISTRATION FEE: Purchasers will be required to pay an administration charge of £600 (£500 + vat) on exchange of contacts
*DISBURSEMENTS: Please see the Legal Pack for any disbursements listed that may become payable by the purchaser/s on completion
FULL DETAILS Photographs, room dimensions, floor plans and area measurements (when available) are included within our full details online at www.auctionhouse.co.uk. All published information is to aid identification of the property and is not to scale.
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, Devon & Cornwall on 01392 455928.
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