Property Information
Address:
Unit 2 19-21 Fore Street, 19-21 Fore Street, St Austell
, PL25 5PX
Price: Property no longer available.
Size: 226 to 473 sqm
Primary Category: Commercial Property
All Categories:
Property Ref/Movehut: MH664728
Property Ref/Agent: 19843
*Please use the agent ref when calling the agent directly.
Property description
The property forms part of a mid-terrace of high street retail units.
Unit 2 is a mid-terrace high street retail unit situated alongside, Vodafone, Holland & Barrett & Tanya's Courage.
The property is arranged over three floors with main sales area on the ground floor
together with ancillary storage; office and staff facilities on the lower ground and first floors. There is separate access to the first floor from the rear, which could potentially offer the option to convert the first floor into a residential flat (subject to consent and lease).
Tenancies:
Unit 1 is let to Vodafone Ltd
on an effectively full repairing and insuring lease expiring in July 24. The current rent passing is £19,000 per annum.
Unit 2 is let to Goodenough (St Austell) Limited on a full repairing and insuring lease expiring in September 2028. There is a tenant break option and rent review in September 2023. The current rent passing is £21,000 per annum.
Tenant:
Tenants:
Unit 1 - Vodafone Ltd has been in occupation and trading from this unit since 2019.
Unit 2 - Goodenough (St Austell) Ltd is the south west franchise for Clarks the shoe retailer. The tenant has been in occupation and trading from this unit since 2002 and most recently signed a 10 year lease as described above.
Location
The property is in a prime pitch on the south side of Fore Street in St Austell town centre close to White River Place which has recently been purchased by new investors. St Austell is one of the largest market towns in Cornwall with a population of around 21,000 it is conveniently located 7 miles to the South of the A30, the main access into the county from the M5. The town is close to a number of popular tourist destinations including Charlestown, The Eden Project, The Lost Gardens of Heligan and coastal towns of Fowey and Mevagissey. St Austell has a main line train station with regular services between London Paddington and Penzance, Newquay Airport Is nearby which provides daily flights to several UK and European destinations. There are a number of significant investment projects
underway that will enhance the Town's economic prospects including the £85m improvement to the A391 link from the town to the A30 and the development of Carluddon Technology Park and Eco Village which provides significant commercial and residential opportunities for the town. There are also a number of additional housing developments planned and under construction, increasing the population of the town significantly.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (1st Edition).
Accommodation Unit 2
First -57.2sq m (615 sq ft)
Ground - 84.3 sq m (907 sq ft)
Lower Ground - 84.2sq m (906sq ft)
Total - 225.7 sq m (2,429sq ft)
Rent / Price
Unit 2 £250,000
EPC
Unit 2 has an EPC rating of C (58).
Legal Fees
Each party is responsible for their own legal fees incurred in this transaction.
VAT
The properties have been registered for VAT, it is envisaged that the sale will be treated as a TOGC.
Prime Freehold Investment for sale
Available as one or two lots
Approx.. 8.4% gross yields
St Austell is one of the largest towns in Cornwall and close to popular tourist destinations such as Charlestown, The Eden Project, Fowey & Mevagissey
Ideal SIPP purchase
;