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Padstow

Unique opportunity to purchase an INVESTMENT opportunity for prime retail lock up shop, subject to 12 year lease - rent passing £36,000 per annum. EPC:C

Under Offer

£670,000

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Key Features

    • GRADE II LISTED RETAIL PREMISES OCCUPYING PRIME LOCATION
    • GROSS FLOOR AREA 89 SQM (966 SQFT)¬†
    • COMPRISING OF:
    • RETAIL AREA 33.5 SQM
    • KITCHEN 30.8 SQM
    • STORAGE AT GROUND AND FIRST FLOOR LEVEL
    • SEPARATE WC
    • OFFICE¬†

     

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Map
Full Description

The vendors are offering the opportunity to acquire a Grade II listed retail premises occupying arguably one of the most sought after and prominent locations within the harbour town of Padstow.

The vendors are selling the long leasehold interest which is subject to the existing tenants occupying the remainder of a 12 year lease and the current rent passing is £36,000 per annum.

AGENTS NOTE - The business which is run by the current tenants is NOT for sale.

The retail premises comprises of 89.8 sqm (966 sqft) of retail and storage space.

The retail area comprises of 33.5 sqm (360 sqft) which is complemented by ground floor kitchen, measuring 30.8 sqm (331 sqft) with ground floor storage.

To the first floor is a further storage area, WC and office. 

The current tenants have run a successful bakery from the premises for almost 30 years.

The current lease is for a 12 year term commencing in March 2021 with a 3 yearly review pattern and is governed by the Landland and Tenant Act 1954 Part II.

cThe new lease commenced in March 2021 with a three yearly review pattern.

BUSINESS RATES - Rateable value £25,750 per annum. 

The Area

Padstow has a long and ancient maritime history, the harbour being nestled in to the west-side of the Camel Estuary offering protection from the prevailing south-westerly winds. The town boasts a labyrinth of crooked streets sloping down to the harbour where many fine medieval buildings can be found including the 15th century Abbey House on North Quay and the 16th century court house of Sir Walter Raleigh on the South Quay.

The surrounding coastline and countryside has been designated an area of outstanding natural beauty with many of North Cornwall's finest sandy beaches within a five mile radius.

DIRECTIONS - No 1-3 The Strand is situated overlooking the harbour - in arguable one of the most sought after prime retail locations. 

 

 

Whilst we as Estate Agents on behalf of the vendors endeavour to ensure the accuracy of property details produced and displayed, we have not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are connected, in working order or fit for the purpose. Neither have we had sight of the legal documents to verify the Freehold or Leasehold status of any property. A Buyer is advised to obtain verification from their Solicitor and/or Surveyor. A Buyer must check the availability of any property and make an appointment to view before embarking on any journey to see a property. The Vendors have checked and approved these particulars.

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