67 lemon street truro, cornwall, tr1 2pn
FREEHOLD CITY CENTRE OFFICE INVESTMENT GRADE II LISTED ESTABLISHED PRIME OFFICE AREA CURRENT INCOME £29,800 PA ADDITIONAL CAR PARKING
PRICE - £450,000
67 LEMON STREET TRURO, CORNWALL, TR1 2PN RENT REVIEWS | LEASE RENEWALS | VALUATIONS | AGENCY | MANAGEMENT
LOCATION The property is located in the Cathedral City of Truro, the principal retailing and commerce centre for Cornwall. The city is located approximately 55 miles west of Plymouth and 90 miles west of Exeter. Truro has good road communication lying approximately 5 miles to the south of the A30 the principal trunk road accessing Penzance to the west with the M5 motorway network at Exeter to the east. The city benefits from the mainline railway station with direct services to London with a travel time of approximately 4-5 hours. Newquay airport to the north approximately 15 miles offers daily connections to London and several leading UK destinations. The property is located on Lemon Street which is the long established prime office area of the city. Lemon Street provides easy access onto Lemon Quay which incorporates Marks and Spencer's, Debenhams and Primark and the lower section of Lemon Street flows into the prime retailing streets of the city. The property is located on the lower section of Lemon Street in close proximity to the Plaza cinema. DESCRIPTION The property comprises a mid-terraced 4-storey grade II listed property arranged in a multi-office environment. Located on the ground floor are two individual offices together with communal male, female toilet facilities and access to the rear car parking area. The first floor is configured to provide 4 individual office rooms together with a small kitchen facility located on half landing. The second floor is arranged to provide a further 3 individual office rooms with an additional 2 office rooms located on the fourth floor. To the rear of the property are car parking facilities offering approximately 8-9 spaces.
LEASE INFORMATION Office
Area (sqft)
Occupier
Ground floor 1
292
Ground floor 2
Rent (pa)
Lease Note
Service charge
St James Place 5 years from 1/4/2016
£4,600 plus car space @ £960
Tenant break March 2019
Tenant pays service charge at 20% of rent
234
St James Place 5 years from 1/4/2016
£4,000
Tenant break on 1 months notice
Tenant pays service charge at 20% of rent
First floor 3&4
412
Studio Arc
3 years from 1/1/12
£4,000 plus car space @ £720
Tenant holding over
Tenant pays service charge at 20% of rent
First floor 5
260
Meiloci
3 years from 01/10/16
£3,500
Inc store and rear annexe
Tenant pays service charge at 20% of rent
First floor 6
220
Kast Architects
3 years from 09/03/15
£3,000
Second floor 7-9 680
Third floor 10 TOTAL RENT Car parking
Lease Details
Ed Crossley 5 years from and Associates 24/03/2008 Ltd
£8,300 plus car space @ £720
Tenant pays service charge at 20% of rent Inc room 10, holding over and 1 car space
420 £29,800 Additional 6 spaces not let.
Tenant pays service charge at 20% of rent
RENT The current gross income equates to £29,800 per annum. There is scope to increase the income by the letting out of the additional 5 car parking spaces at the rear of the property on individual licence agreements. SERVICE CHARGE A service charge is administered for communal facilities of the property to include insurance, water, electric and cleaning. This is currently charged to the tenants at 20% of the rent. ADDITIONAL INFORMATION At the rear of the site is a former garage/workshop now partly used for access to the car parking area. Planning may be possible for extensions/development subject to the appropriate planning consents being obtained. The property has been subject to recent improvements with a new fire alarm system with emergency lighting, and external decoration PRICE £450,000 (VAT is not applicable) VIEWING/FURTHER INFORMATION Strictly by appointment with sole selling agents: SBC Property Daniell House Falmouth Road Truro Cornwall TR1 2HX Tel: Web site: Email:
01872 245803 www.sbcproperty.com [email protected]
FAO
Carl Jenkin
These particulars do not constitute any part of an offer or contract, all statements as to the property and business are made without responsibility on the part of SBC Property or the vendor, none of the statements contained herein are to be relied upon as statements or representations of fact, any potential purchaser must satisfy themselves as the correctness of each statement in these particulars, the vendor does not make or give and SBC Property nor any person in their employment has any authority to make any representation or warranty whatever in relation to this property.
SBC Property is the trading name of Scott Burridge Commercial LLP
PRICE - £450,000
67 LEMON STREET TRURO, CORNWALL, TR1 2PN RENT REVIEWS | LEASE RENEWALS | VALUATIONS | AGENCY | MANAGEMENT
LOCATION The property is located in the Cathedral City of Truro, the principal retailing and commerce centre for Cornwall. The city is located approximately 55 miles west of Plymouth and 90 miles west of Exeter. Truro has good road communication lying approximately 5 miles to the south of the A30 the principal trunk road accessing Penzance to the west with the M5 motorway network at Exeter to the east. The city benefits from the mainline railway station with direct services to London with a travel time of approximately 4-5 hours. Newquay airport to the north approximately 15 miles offers daily connections to London and several leading UK destinations. The property is located on Lemon Street which is the long established prime office area of the city. Lemon Street provides easy access onto Lemon Quay which incorporates Marks and Spencer's, Debenhams and Primark and the lower section of Lemon Street flows into the prime retailing streets of the city. The property is located on the lower section of Lemon Street in close proximity to the Plaza cinema. DESCRIPTION The property comprises a mid-terraced 4-storey grade II listed property arranged in a multi-office environment. Located on the ground floor are two individual offices together with communal male, female toilet facilities and access to the rear car parking area. The first floor is configured to provide 4 individual office rooms together with a small kitchen facility located on half landing. The second floor is arranged to provide a further 3 individual office rooms with an additional 2 office rooms located on the fourth floor. To the rear of the property are car parking facilities offering approximately 8-9 spaces.
LEASE INFORMATION Office
Area (sqft)
Occupier
Ground floor 1
292
Ground floor 2
Rent (pa)
Lease Note
Service charge
St James Place 5 years from 1/4/2016
£4,600 plus car space @ £960
Tenant break March 2019
Tenant pays service charge at 20% of rent
234
St James Place 5 years from 1/4/2016
£4,000
Tenant break on 1 months notice
Tenant pays service charge at 20% of rent
First floor 3&4
412
Studio Arc
3 years from 1/1/12
£4,000 plus car space @ £720
Tenant holding over
Tenant pays service charge at 20% of rent
First floor 5
260
Meiloci
3 years from 01/10/16
£3,500
Inc store and rear annexe
Tenant pays service charge at 20% of rent
First floor 6
220
Kast Architects
3 years from 09/03/15
£3,000
Second floor 7-9 680
Third floor 10 TOTAL RENT Car parking
Lease Details
Ed Crossley 5 years from and Associates 24/03/2008 Ltd
£8,300 plus car space @ £720
Tenant pays service charge at 20% of rent Inc room 10, holding over and 1 car space
420 £29,800 Additional 6 spaces not let.
Tenant pays service charge at 20% of rent
RENT The current gross income equates to £29,800 per annum. There is scope to increase the income by the letting out of the additional 5 car parking spaces at the rear of the property on individual licence agreements. SERVICE CHARGE A service charge is administered for communal facilities of the property to include insurance, water, electric and cleaning. This is currently charged to the tenants at 20% of the rent. ADDITIONAL INFORMATION At the rear of the site is a former garage/workshop now partly used for access to the car parking area. Planning may be possible for extensions/development subject to the appropriate planning consents being obtained. The property has been subject to recent improvements with a new fire alarm system with emergency lighting, and external decoration PRICE £450,000 (VAT is not applicable) VIEWING/FURTHER INFORMATION Strictly by appointment with sole selling agents: SBC Property Daniell House Falmouth Road Truro Cornwall TR1 2HX Tel: Web site: Email:
01872 245803 www.sbcproperty.com [email protected]
FAO
Carl Jenkin
These particulars do not constitute any part of an offer or contract, all statements as to the property and business are made without responsibility on the part of SBC Property or the vendor, none of the statements contained herein are to be relied upon as statements or representations of fact, any potential purchaser must satisfy themselves as the correctness of each statement in these particulars, the vendor does not make or give and SBC Property nor any person in their employment has any authority to make any representation or warranty whatever in relation to this property.
SBC Property is the trading name of Scott Burridge Commercial LLP
