This retail is now off the market

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3 Beachfield Ave, Newquay, Cornwall TR7 1DP – Newquay


This retail is now off the market

Miller Commercial Agency
Contact name
Miller Commercial
Full address
3 Beachfield Avenue, Newquay, Cornwall TR7 1DP – Newquay
Property type
Shop for sale
Asking price
Kitchen, Refurbished, Security
192 sq ft
NIY (%)

Property description

• INVESTMENT OPPORTUNITY • GROSS INCOME £15,309 • CLOSE TO PRIME RETAIL PITCH • NET INITIAL YIELD 10.35% (AFTER PURCHASE COSTS OF 2%) • EPC RATING - BAND C(56)- GROUND & D(98) BASEMENT A substantial 4 storey building located centrally within Newquay; close to the prime retailing area of Bank Street. The premises include a ground floor retail unit which is currently let at an annual rental of £9,000 together with basement beauty salon which will be let at an annual rental of £5,000 per annum exclusive. There are 7 flats which have been sold off on 125 year leases and these pay a ground rent totalling £1,316 per annum. The premises are located within Beachfield Avenue which connects Bank Street, the prime retailing area of Newquay with Beach Road and Towan Beach/The Blue Reef Aquarium. The premises are located close to Costa Cofffee, Clarks Shoes, Superdry, WH Smith and Specsavers amongst others. The ground floor comprises a retail unit which is let as a Hair Stylists together with a basement which has recently been refurbished and operates as a beauty salon. The upper floors include 7 flats which are owned separately with the owners paying the freeholder an annual ground rent. Ground Floor - this is let to a local Hair Stylist under a 5 year lease from June 2016 at an annual rental of £9,000. The lease is on proportional internal repairing and insuring terms, includes a rolling 6 month tenant only break clause and is excluded from the security of tenure provisions of the Landlord and Tenant Act 1954. Basement - this is to be subject to a 5 year lease from completion of the sale. The lease is to be on proportional full repairing and insuring terms at an annual rental of £5000. Flats - The 7 flats have all been sold on long leases (100 years unexpired) and each pays a ground rent of £188 per annum together with a service charge to cover the repair and maintenance of the exterior and common parts. The Energy Performance Rating for this property is within Band C (56) for the Ground Floor and Band D (98) for the basement.

This shop for sale is located in Newquay.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Miller Commercial Agency. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Miller Commercial Agency for full details and further information.