Falmouth

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INVESTMENT OPPORTUNITY FOR SALE - 12 CHURCH STREET

Freehold offers in the region of £400,000 are sought.

Currently occupied by Subway Realty Ltd, this investment offers interested parties a desirable opportunity within Falmouth. Frontage is on to Church Street

LOCATION:
Falmouth is a coastal town situated approximately 12 miles south west of Truro and is famous for its extensive natural amenities which include the harbour and surrounding beaches. The town has a strong maritime history and is a very popular venue for yachting and dinghy racing events. Falmouth is one of the county’s leading holiday resorts with a resident population of around 28,000 persons which increases considerably during the summer months.

SITUATION:
The property is located at the northern end of Church Street, close to a mixture of national and local independent retailers and one of the town’s main shoppers’ car parks. The premises are Grade II Listed Building and are situated within the Falmouth Conservation Area.

DESCRIPTION:
The property comprises a former building society and is of regular shape with frontage on to Church Street. Storage and staff toilet facilities exist at the rear of the premises. Currently occupied by MFH Enterprises Ltd, the popular sandwich outlet, this investment offers interested parties a desirable opportunity within Falmouth.

ACCOMMODATION: (All dimensions and areas are approximate)

Total sales over ground and first floor 117.7m² (1266 ft²)
WC

LEASE TERMS:
MFH Enterprises Ltd are currently in occupation of the premises under a 10-year lease, commencing 1st June 2022 at a passing rent of £27,500 per annum and is subject to a rent review on 1st June 2025 and three yearly thereafter. The property is held on full repairing and insuring terms.

SALE PRICE:
Freehold offers in the region of £400,000 are sought.

BUSINESS RATES:
2017 Rateable Value £26,250. Enquiries regarding the rates payable should be made with Cornwall Council.

VAT:
We understand that the property is not VAT registered and therefore no VAT is payable.

LEGAL COSTS:
Each party to bear their own respective legal costs incurred in the transaction.

SERVICES:
We have not tested the services connected to the premises and the ingoing tenant/purchaser should carry out their own inspections.

PLANNING:
Interested parties should satisfy themselves that their proposed use complies with the existing planning consent.

MONEY LAUNDERING REGULATIONS:
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.

VIEWING:
Viewing arrangements may be made through Charterwood on (01872) 261216. Contact Chris Waters or Rosie Brenton.

ENERGY EFFICIENCY RATING:
PROPERTY HAS A RATING OF D (100)
Certificate Reference Number: 9200-5940-0321-3850-7024
Report Reference Number: 9532-4050-0412-0790-8025

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