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8 bedroom terraced house for sale

High Street, Falmouth

Sold STC £275,000

Property Description

Key features

  • 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

Full description

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: markh@grylls-paige.co.uk

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.

EPC Rating  
Band E

More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
03 July 2018

Map & Street View

Disclaimer - Property reference 8528240. 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 Harding & Wakefield, Falmouth. 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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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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 Harding & Wakefield, Falmouth on 01326 450020.


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