The building is a substantial property extending over three stories. There is a large ground floor retail area with a significant shop frontage of some 10 metres. A storage area with staff welfare facilities occupies the first floor and is accessed by a rear external staircase. The property currently trades as a gift shop and is occupied by the owner. There is a spacious self contained flat on the second floor (currently let), which could be available to rent by separate negotiation. The existing lawful use class is understood to be A1 (shops and retail outlets) although the property would be suitable for various alternative uses (subject to obtaining the necessary planning consents).
The property is primarily accessed from Queen Street although there is a pedestrian access from Belle Vue Lane to the rear. The frontage of the shop is recessed to provide an open display area. A roller shutter can be lowered when the shop is closed in order to make this area secure. A retractable awning is positioned over the external display area. There are secondary curved window display areas with central double doors inside the recessed area leading to a large retail area of predominantly rectangular shape. The ground floor is currently occupied by display cabinets and racking used for displaying goods. A set of double doors to the rear of the retail area leads to a passageway and staircase to a first floor patio with double access doors to the store (the flat entrance is adjacent to these doors). The large store with 3 No. large windows overlooking Queen Street is accessed via a lobby and the staff welfare area, toilet and small store room are accessed via a corridor (all areas are currently used for additional storage). Free time restricted on street parking is available to a number of the surrounding streets and there are also long stay public car parks nearby (Summerleaze and Crescent).
The prospective tenant will pay the landlords reasonable legal costs in respect of preparation of the lease. Subject to a maximum of £950 plus VAT.
Offers in the region of £25,000 are sought for the annual rental of the ground and first floor. The property is available with vacant possession or could be taken on as a going concern (subject to negotiation). The freehold could be available and offers are invited in this respect.
The property is available on a full repairing and insuring basis. The landlord will recover the cost of insurance from the tenant (estimated premium to be confirmed). The landlord envisages a lease term of three years or more. If taking on the shop as a going concern stock would be valued at 30% of the retail price and digital photographic and sublimation equipment (if required) at a price to be agreed.
The current rateable value (RV) is £24,500 and rates payable are £11,760 (2018 to 2019). The RV is as stated on the Valuation Office Agency (VOA) website service (effective date 1st April 2017). Information concerning how rates are calculated are available on the Cornwall Council website.
The property is not understood to be elected for VAT and as such VAT will not be chargeable on the rent.
Subject to Contract
This brochure is for guidance purposes only and does not constitute an offer or contract. All descriptions, particulars and dimensions stated are understood to be correct, but prospective purchasers or tenants must satisfy themselves that the information is correct and not rely on the information if entering into a contract or incurring expenses.
Viewings are by appointment only. Contact Phil Wiltshire BSc(Hons) MRICS on: 01208 812 812
For full details please download the PDF Brochure, which also contains some useful links.