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    Key features

    • Investment let at £17,000 per annum
    • Let on a 15 year FR&I lease from 1st March 2024
    • Comprising a lock up shop at ground floor and ancillary space at first floor
    • Future residential development potential to convert the upper floor into a dwelling (subject to the requisite consents and existing lease)
    • Total space an approx. 1,330 sq ft
    • Penzance Station is located an approx. 0.1 miles from the property
    • Guide Price Reflects 11.3% Gross Yield

    Description

    The property comprises mid terrace ground floor shop with ancillary accommodation at first floor.

    The property is fully let on a single lease to three private individuals, trading as a barbers, for a term of 15 years expiring 28/02/2039 and paying £17,000 per annum. The lease is on full repairing and insuring terms and includes a rent review in the 5th year and every three years thereafter.

    Nearby occupiers include Dominos, British Heart Foundation, Peacocks and a wide range of established local and independent retailers

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to Accommodation and Tenancy schedule

    Tenancy

    Please refer to Accommodation and Tenancy schedule

    Rent

    £17,000 p.a.

    Notes

    Joint Agent



    Joseph Bachman

    07723 619270

    joseph@bluealpine.com



    We understand the property is elected for VAT, it is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).


    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

    VAT is applicable on this property, but we believe that the sale can be treated as a TOGC (Please refer to the legal pack)

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      The property is located on the East side of Market Jew Street, between the junctions with New Town Lane and Albert Street.

      Penzance Station is located an approx. 0.1 miles from the property

      Transport

      Penzance Station - National Rail services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums