42, East Street, Newquay
, TR7 1BE
Price: Buy: POA
Size: 2329 sq ft216 sqm Primary Category: Leisure All Categories:
Leisure, Property Ref/Movehut: MH647941 Property Ref/Agent: 19081
*Please use the agent ref when calling the agent directly.
42 East street is a three-story end of terrace property with restaurant and kitchen on the ground floor and office / staff accommodation on the first and second floors. There is a large outdoor seating are to the front of the property and a parking area to the rear with space for 4/5 cars. Reef's Nqy is a successful seafood restaurant ranked within the top 25 restaurants in Newquay (out of 158) on Tripadvisor.
Newquay is one of the fastest growing towns in the South West. With an increasing population, large amounts of investment; both residential and commercial, and Newquay's International Airport, the Cornish town is fast becoming a hub for business growth. This investment, along with a thriving tourism industry, the largest concentration of beaches in Cornwall which boast the best surfing location in the UK, makes Newquay an ideal and productive place to live and work.
The property is located on the North side of East Street In Newquay town centre, an ideal location benefiting from various amenities including shops, cafes, bars, restaurants, Supermarkets, town beaches (Towen/ Great Western/ Tolcarne), car parks, Newquay train station. There is easy access to Cornwall Airport Newquay (12 mins)
and the A30 (16 mins).
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Rent / Price
From the Valuation Office Agency website () we understand that the current Rateable Value is £15,750 effective from the 1st April 2017 reference 261.
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.
C - (72)
Each party to be responsible for their own legal fees in relation to this transaction.
All figures quoted are exclusive of VAT if applicable.
Freehold investment for sale
Ideally located in the centre of Newquay
Current rent passing £22,000 per annum
Large car parking area to the rear
Future residential development potential of upper floors
£300,000 reflecting a net initial yield of 7.1% (allowing for purchase costs of 3.3%)
EPC for 42, East Street, Newquay
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