Guide price
£745,000
(£58.98/sq. ft)
Property for salePethericks Mill, Bude, Cornwall EX23
12,632 sq. ft
About this property
Well located investment opportunity
Current rent roll of £55,000 per annum
5 Occupiers with complimentary uses
Café, hair salon, dog groomer, office and Tapas restaurant
Leases range from 5 to 10 years
36 Car parking spaces (within landlord management)
Strong location next to nature reserve and walking distance to town centre
Settled tenant line up
Pethericks Mills is an exciting freehold investment opportunity developed by the current owners to create a vibrant hub of complimentary occupiers in an easy to access location. A busy location day and night, with great transport links, the tenants benefit from free staff and customer parking (36 spaces), immediate foot and cycle paths via River Neet and Strat, with Bude Marshes Nature reserve and Bude canal.
Fully let at present, the venue has increased in popularity over the years, with low tenant turnover, and with a daytime café and well known evening restaurant there is always something going on.
Location
Pethericks Mill is located on the edge of the town, 2 minutes from the main access road. It adjoins the popular walking and cycling routes on canal and close to
Bude-Stratton Business Park, which is one of the newest and smartest business parks in the region. It is an ideal location for the tenants, being situated just off
the A39 and with easy access to town centre and beaches, with good parking provision.
Bude is one of the largest towns in North Cornwall with a population of approximately 10,000. The town is a popular tourist destination as well as business and
amenity hub for the wider area. Bude benefits from unmatched internet capacity as it receives the Transatlantic Fibre Cable. The A39 links Bude to the Newquay
area in the west via Camelford, Wadebridge. It also leads east to Barnstaple and links with the M5 via the North Devon Link Road. Bude is just 40 miles from
Cornwall Airport Newquay (daily flights to London Heathrow and other national and international destinations) and under 60 miles to the M5.
Accommodation
Please refer to the brochure to view the tenancy schedule.
Rent / Price
Available freehold on an investment basis at a guide price of £745,000 which represents a 7% yield after purchase costs of 5.39%.
Business Rates
Please refer to brochure. Tenant payable.
Services
We understand that mains electricity and water are connected to the property, with private drainage and grey water system. All services and rates tenant responsibility. Services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
Please refer to the brochure.
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
All figures quoted are exclusive of VAT if applicable.
Fully let at present, the venue has increased in popularity over the years, with low tenant turnover, and with a daytime café and well known evening restaurant there is always something going on.
Location
Pethericks Mill is located on the edge of the town, 2 minutes from the main access road. It adjoins the popular walking and cycling routes on canal and close to
Bude-Stratton Business Park, which is one of the newest and smartest business parks in the region. It is an ideal location for the tenants, being situated just off
the A39 and with easy access to town centre and beaches, with good parking provision.
Bude is one of the largest towns in North Cornwall with a population of approximately 10,000. The town is a popular tourist destination as well as business and
amenity hub for the wider area. Bude benefits from unmatched internet capacity as it receives the Transatlantic Fibre Cable. The A39 links Bude to the Newquay
area in the west via Camelford, Wadebridge. It also leads east to Barnstaple and links with the M5 via the North Devon Link Road. Bude is just 40 miles from
Cornwall Airport Newquay (daily flights to London Heathrow and other national and international destinations) and under 60 miles to the M5.
Accommodation
Please refer to the brochure to view the tenancy schedule.
Rent / Price
Available freehold on an investment basis at a guide price of £745,000 which represents a 7% yield after purchase costs of 5.39%.
Business Rates
Please refer to brochure. Tenant payable.
Services
We understand that mains electricity and water are connected to the property, with private drainage and grey water system. All services and rates tenant responsibility. Services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
Please refer to the brochure.
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
All figures quoted are exclusive of VAT if applicable.
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