Penzance

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IMMACULATELY PRESENTED CAFÉ / RESTAURANT TO LET - 10 ALBERT STREET

Assignment of existing 3 year lease, expiring on 31st July 2016, at a passing rent of £10,200 pa.

Character property situated in busy edge-of-town position with views of St Michael’s Mount & Newlyn. Nearby occupiers include Costcutters convenience store, MIL Autos, The Painted Bird and Chic n Unique with the railway and Pay & Display car park nearby.

LOCATION:
Penzance lies at the western end of the Cornish peninsula facing on to Mount’s Bay on the south coast of Cornwall. The town is the principal retailing centre in the district previously known as Penwith and is a relatively busy commercial centre accommodating the Council offices and Magistrates Courts. Communications from Penzance are good with a direct link on to the A30 which forms the arterial road into and out of the County, linking with the M5 at Exeter. The town also has an Intercity Railway station providing a regular service to Paddington, London.

SITUATION:
The character property is situated on Albert Street, toward the commencement of Market Jew Street, the prime retailing location within the town. Albert Street is in a busy edge-of-town position, with enviable views of St Michael’s Mount and Newlyn over Wharf Road. The immediate area has attracted a mixture of local and regional traders interspersed with national outlets with nearby occupiers including Costcutters convenience store, MIL Autos, The Painted Bird and Chic n Unique. The railway station and main Pay & Display car park are in close proximity.

DESCRIPTION:
The premises comprise extremely well presented open plan café/restaurant accommodation, providing up to 32 covers, with bar, kitchen, storage and toilet facilities. The accommodation is superbly fitted out following a recent refurbishment, ensuring that the new occupier can commence trading immediately. Whilst the premises are ideally situated for café and restaurant uses, they could equally suit A1 (retail) and A2 (financial and professional services) uses.

ACCOMMODATION: (All dimensions and areas are approximate)

Café/Restaurant 50.02m² (538 ft²)
Kitchen 8.50m² ( 92 ft²)
Store 2.22m² ( 24 ft²)
WC

LEASE DETAILS:
The premises are available under an assignment of the existing 3 year lease, expiring on 31st July 2016, at a passing rent of £10,200 per annum. The lease is to be outside the Landlord and Tenant Act 1954. Alternatively, we understand that the landlord would consider granting a new 3 year lease if preferred.

PREMIUM:
A reduced premium of £10,000 is sought in respect to all fixtures and fittings within the restaurant premises. A full inventory of items will be provided to interested applicants although viewings of the premises and the high quality items are recommended.

RATES:
Rateable Value £9,400 (2010 list)
Enquiries regarding rates payable and eligibility for small business relief should be made with Cornwall Council – 0300 1234171.

VAT:
All figures quoted are exclusive of VAT where applicable.

COSTS:
The ingoing assignee will be responsible for the assignor’s reasonable legal costs incurred in the preparation and execution of the legal documentation.

SERVICES:
We understand that mains electricity, water and drainage are connected to the premises. 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.

VIEWING:
Strictly by appointment with Sole Agent Charterwood on (01872) 261216.
Contact Chris Waters or Stuart Sly.

ENERGY EFFICIENCY RATING:
Certificate Reference Number: 0591-2700-7630-7890-2703
Report Reference Number: 9200-2985-0477-0760-7014

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