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GF RETAIL INVESTMENT WITH SELF-CONTAINED FF VACANT FLAT ABOVE FOR SALE - BASSETT ROAD, ILLOGAN, REDRUTH

Offers are sought in excess of £325,000

Retail investment with self-contained FF flat for sale situated on Bassett Road, close to the centre of the village of Illogan, just north of Redruth and in close proximity to the main A30.

LOCATION:
Illogan is a small village situated just north of Redruth and in close proximity to the main A30. The commuter village has a public house, a few shops including a small Morrisons convenience store along with two separate doctors’ surgeries. In addition, there are a number of holiday parks within the surrounding areas of the village and popular fish and chip shop centrally located.

SITUATION:
The property is situated on Bassett Road, close to the centre of the village, midway between the two doctors’ surgeries, opposite the car park to the Robartes Arms, Keltek Cornish Brewery pub, and in close proximity to the Morrisons convenience store. However, the surrounding area is predominantly residential.

DESCRIPTION:
The ground floor is occupied by Boots the Chemist which comprises a large open plan retail shop and a very busy pharmacy serving both surgeries within close proximity.

The first-floor residential accommodation was built in 1999 and comprises an immaculately presented self-contained two-bedroom flat with rear stairwell giving access to balcony. The flat will be provided with vacant possession.

ACCOMMODATION: (All dimensions and areas are approximate)

Ground floor retail
Total sales area 42.7 m² (459 ft²)

The shop is of a regular layout with 7m width and approximately 12m depth with good traditional retail frontage and combined stepped and ramped access.

Rear pharmacy/office 28.4 m² (306 ft²)

Toilet facilities

In front of the premises are two designated car spaces whilst there is plenty of roadside parking within the vicinity.

First floor self-contained residential flat
Accessed by means of a side path leading to rear garden and stairs to outside decking and balcony area.

Kitchen 4.38 m x 3.32 m 14.54 m²(157 ft²)
Living/dining room 6.2 m x 4.09 m 25.36 m² (273 ft²)
Bedroom 4.15 m x 2.97 m 12.33 m²(133 ft²)
Bedroom 4.09 m x 3.28 m 13.42 m²(145 ft²)
Bathroom 2.67 m x 2.21 m 5.90 m² (64 ft²)

LEASE DETAILS
The freehold interest in the property is offered with vacant possession on the flat and an occupational lease for the ground floor retail shop.

The ground floor is occupied by Boots UK Limited, a blue-chip company which needs little further explanation. The lease is for the remainder of a ten-year term commencing 25th December 2016, i.e., expires 24th December 2026. Negotiations are presently ongoing in respect to the outstanding rent review, due 24th December 2021, but also in respect to an extension to the existing term. Boots are responsible for the full repair and decoration of their demised premises as well as contributing a fair proportion to the maintenance of the front forecourt. Further, Boots are responsible for contributing a fair proportion to the building’s insurance. The passing rent, subject to review, is £13,700 per annum which is payable quarterly in advance.

BUSINESS RATES:
The property has a Rateable Value effective from the 1st April 2023 of £20,250 and is described as a “Pharmacy and Premises”.

The flat is assessed at Council Tax Band B.

For further information regarding rates payable and eligibility for small business relief contact Cornwall Council.
Tel: 0300 1234171.

PRICE:
Offers are sought for the entire property in the region of £325,000 (Three Hundred and Twenty-Five Thousand Pounds).

VAT:
The property is not registered for VAT, therefore will be no VAT payable on the sale price.

SERVICES:
The shop has air conditioning fitted and there is mains gas, mains water and drainage to the site. The services are fully self-contained with on-site meters. The flat has full central heating system by means of a gas combi boiler

PLANNING:
Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.

LEGAL COSTS:
Each party to be responsible for their own legal fees in the transaction.

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.

ENERGY EFFICIENCY RATING:

Ground Floor Shop
THIS PROPERTY HAS A RATING OF B (48)
Certificate Reference Number: 3896-1815-3948-5261-6009
Report Reference Number: 0463-7755-2298-1518-0182
The Certificate is valid until the 16th March 2033.

First Floor Residential Flat
The first floor flat has a rating of 73.
Certificate Reference Number: 0330-2123-9070-2397-8545
The Certificate is valid until the 16th March 2033.

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