Industrial development for sale
Property description & features
- INVESTMENT PROPERTY
- DEVELOPMENT OPPORTUNITY
- TOWN CENTRE LOCATION
- FREEHOLD PROPERTY
- INDICATIVE DRAWINGS AVAILABLE
- 4 FLATS SUBJECT TO PLANNING
- GOOD INCOME POSSIBILITY
- CLOSE TO TOWN FACILITIES
- SUBSTANTIAL PREMISES WITH c6745sq' overall
A FREEHOLD TOWN CENTRE DEVELOPMENT/INVESTMENT PROPERTY
NEW 10 YEAR LEASE TO BETFRED @£ 25,000 PA
POTENTIAL DEVELOPMENT OF UPPER FLOORS
INDICATIVE DRAWINGS FOR 4 FLATS ATTACHED
St Austell - St Austell town offers a wide range of shopping, educational and recreational facilities. There is a mainline railway station and leisure centre together with primary and secondary schools and supermarkets. The picturesque port of Charlestown and the award winning Eden Project are within a short drive. The town of Fowey is approximately 7 miles away and is well known for its restaurants and coastal walks. The Cathedral city of Truro is approximately 13 miles from the property.
The Premises - The subject premises are situated on Fore Street which is the main street going through the town centre. It offers an excellent trading position ideally situated to take advantage of the towns footfall. The ground floor retail is subject to a new lease to Betfred with details below. The upper floors have indicative drawings attached for the potential conversion to 4 flats (subject to planning consent)
Ground Floor Sales 294.10 sq m 3,166 sq ft
First Floor Ancillary & Staff 262.18 sq m 2,822 sq ft
Second Floor Ancillary & Staff 70.36 sq m 757 sq ft Total: 626.64 sq m 6,745 sq ft
Tenure - Freehold
Betfred Lease - There is a new lease to Betfred (Done Brothers (Cash Betting) Limited - Company Number 1277703) agreed to commence circa June 2024 once Landlords works have been completed.
There is a an upward only rent review to market rent and a tenant only break clause on the fifth anniversary of the lease commencement date.
The initial rent for the ground floor is £25,000 per annum.
Full list of Landlord works pre lease are available from the Agents
Upper Floors - Indicative drawings are attached for conversion of the upper floors to 4 flats (subject to planning consent)
The vendor would consider a sale of the self contained upper floors in isolation either unconditional or conditional on residential planning.
Guide price for the uppers floors is £80,000 for 999 year leasehold.
Vat - We understand that the property is elected for VAT
On the basis of the freehold sale, it is anticipated that the property will qualify as a Transfer of a Going Concern (TOGC) but applicants should take advise from their own advisors to clarify
Local Authority - Cornwall Council.
New County Hall, Treyew Rd, Truro TR1 3AY Phone:[use Contact Agent Button]
Planning -
Business Rates -
Veiwing - By appointment with the Vendors agent:
MAY WHETTER AND GROSE, 11 Fore Street, St Austell. PL25 5PX
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