Retail premises for sale

Commercial Street, Camborne TR14

Investment Consideration:
Gross Initial Yield: 6.50%
Rental Income: £7,800 p.a.
Fixed rental increase to £9,000 p.a. In 2024
VAT is not applicable to this property
Comprises a ground floor shop with additional storage rooms, kitchen and W/C.
Total area size 62.50 sq m (672 sq ft)
Prominent location in central Camborne
Occupiers nearby include Miller and Son estate agents, wh Smith, HSBC, Wetherspoons pub and hotel and Tyacks Hotel

Property Description:
The property comprises ground floor shop with additional storage rooms, kitchen and W/C.

Retail: 37.30 sq m (401 sq ft)
Office: 10.40 sq m (112 sq ft)
Kitchen: 10.30 sq m (111 sq ft)
Storage: 4.50 sq m (48 sq ft)
Total: 62.50 sq m (672 sq ft)

Tenancy:
The property is at present let to an Individual for a term of 6 Years from 26th November 2021 at a current rent of £7,800 and the lease contains full repairing and insuring covenants. Fixed rental increase to £9,000 p.a. From 26.11.2024.
No break clause.

Tenure:
Leasehold. Held on a 999 Year Lease from 5th July 2016

Location:
Camborne forms part of the largest conurbation in Cornwall and was formerly one of the richest mining areas of the world, located in the heart of Cornwall, 15 miles from Truro and 16 miles from Penzance. Camborne station is on the main line to London Paddington and the town is 60 miles from Plymouth. Commercial Street forms part of the main high street in the town centre and 20-22 is in a good secondary pitch along the street. Nearby occupiers include Miller and Son estate agents, wh Smith, HSBC, Wetherspoons pub and hotel and Tyacks Hotel.