Units 24&6, Whitstone, Cornwall
, EX22 6TG
, United Kingdom Price: Buy: POA
Size: 1311 sq ft122 sqm Primary Category: Investment All Categories:
Investment, Industrial, Property Ref/Movehut: MH647935 Property Ref/Agent: 18999
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: February 28, 2021
The property comprises a terrace of three light industrial units and a yard to the front. The units are in good condition and benefit from roller shutter doors, separate pedestrian access with security gates and w/c facilities.
The property is located on St Anne's Close in the village of Whitstone on the B3254 which is the main link road between Launceston (13 miles to the south east) and Bude (7 miles to the north west), Holsworthy is 8 miles to the North West.
All areas are approximate and measured in accordance with the RICS Property Measurement (6th Edition).
40.6 sq m
437 sq ft
437 sq ft
437 sq ft
121.8 sq m
1,311 sq ft
Units 2 & 6 are let on the same lease to a private individual, who runs a laundry business, for a term of 6 years from 6th February 2019 at a rent of £6,400 per annum. There is a rent review on 6th February 2022.
Unit 4 is let to Red Dog Bakery Ltd for a term of 6 years from 1st August 2018 at a rent of £3,200 per annum. There is a rent review on 1st August 2021 and a mutual rolling break after the first anniversary of the term with either party serving not less than 3 months' notice.
Both the leases are on proportional FRI terms, by way of a maintenance charge. Unit 2&6 pay 7.5% of the rent plus £120 per annum insurance rent. Unit 4 pay 7.5% of the rent plus £120 per annum insurance rent.
Rent / Price
OIEO £125,000 for the Freehold
Offers in excess of £125,000 (One Hundred and Twenty Five Thousand Pounds) are sought for the freehold which reflects a net initial yield of 7.5% allowing for purchase costs of 1.8%.
From the Valuation Office Agency website () we understand that the current Rateable Value for:
Unit 2 £3,300 effective from the 1st April 2017 reference 24453640009020
Unit 4 £3,350 effective from the 1st April 2017 reference 24453640006010
Unit 6 £3,350 effective from the 1st April 2017 reference 24453640004000.
We understand that mains electricity water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC's are being produced.
Each party is responsible for their own legal fees in this transaction.
The property is not elected for VAT and will not be applicable on this sale.
Terrace of light Industrial workshop units for sale
Of Interest to Investors, developers and occupiers
Good location close to Bude, Launceston and Holsworthy
Offers in excess of £125,000 for the freehold.
Request for best and final bids by 12 noon on Friday 29th January 2021.
EPC for Units 24&6, Whitstone, Cornwall
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