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Freehold Investment Property Located In Newquay Town Centre

Newquay, Cornwall
Freehold Price:
£899,950
Status
FOR SALE
Advert ID
259282
Reference
2462 / Rightbiz

Freehold Investment Property Located In Newquay Town Centre                                        2 Commercial Lets & 1 Residential Let                                                                             Rental Income £58,500 pa (6.5%)                                                                                                                Ref 2462

Location
This large Freehold Investment Property is located on the corner of a busy parade of shops on one of the main thoroughfare roads in Newquay town centre. Newquay is one of the nation's favourite seaside towns, perched on Cornwall's Atlantic cliffs and bordered by 7 miles of glorious golden sandy beaches. It's a place where all the family gets to relax and enjoy a proper holiday. There's a different beach for every day of the week and glorious open spaces looking out to sea. The town manages to be both trendy and yet remains a great family resort all wrapped up in the most fantastic coastal scenery.

Freehold Asking Price: £899,950  


Business Description 
Veritas Business Sales are delighted to offer for sale this delightful Freehold Investment Property which is located in the Cornish seaside town of Newquay. The building was purchased as an investment by our clients over twenty years ago and is reluctantly being offered for sale so that they can enjoy a well deserved retirement .                                                                                                                                                                                              Since ownership they have made continual investment in the upkeep of the building and produces a combined rental income of £58,500 pa. The ground floor is leased to an amusement arcade, the first floor is leased to a snooker/social club and the second floor is a residential let.                                                                                                                         We believe that this superb opportunity to purchase an established Investment Property within a prime location which is a great base to build upon and as such early viewing is highly recommended as this is not to be missed.

Ground Floor
Amusement arcade
Rental income £27,500 (10 year lease)
EPC Rating B


First Floor
Snooker/social club
Rental income £17,000 (10 year lease)
Ground floor
Cellar with all the normal requirements. 
EPC Rating C


Second Floor
Penthouse Apartment
3 double bedrooms
Kitchen
Lounge/Dining Room
Bathroom
Large patio area with views
Rental income £14,000 rolling 6 month tenancy agreement
EPC Rating E
 

Listing Details
Freehold Price: £899,950
Tenure: Freehold
Location: Newquay, Cornwall
Sector: Commercial Properties, Investment Properties, Development Sites
Financials
Annual Turnover: £58,500
Annual Net Profit: Available upon request
Key Features
  • Potential for Alternative Use
  • Town Centre location
  • Close to Local Amenities
  • Prime Location
  • Retirement Sale
  • Adjacent to Multiple Retailers
Contact Agent
Telephone: Upgrade to view
Agent Name: Upgrade to view
Advert Reference: 2462 / Rightbiz

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