Three-storey end of terrace property situated at the corner of Bank Street and Cheltenham Place at the edge of the pedestrianised section of Bank Street in a prime retailing position.
Key Features
Location
Floor Plan
EPC
Details
LOCATION
Newquay is located on the North Cornwall coast and is one of the most popular holiday resorts and surfing centres within the Country. The town has a resident population of 23,613 (2021 Census) which increases significantly during the tourist season. A large amount of residential development on the edge of the town is also underway which will increase the resident population. The town has a good range of national, regional and local retailers, banks, restaurants and public houses.
SITUATION
The property is situated at the corner of Bank Street and Cheltenham Place at the edge of the pedestrianised section of Bank Street. The property occupies a prime retailing position and nearby occupiers include Costa Coffee, Specsavers and W H Smith.
DESCRIPTION
The property comprises an end of terrace building arranged on three floors. The ground floor has a shop front facing Bank Street and a return frontage onto Cheltenham Place. The property is occupied by a photographer and media company. The ground floor comprises a retail unit with a raised sales area to the rear and a small ground floor store. The first floor comprises a studio, kitchen/staff room and toilet. The second floor comprises four storage rooms and a toilet.
ACCOMMODATION
Internal width 6.30 m Shop depth 13.10 m Sales area 72.68 m² Store 11.06 m² First Floor Store/staff 65.52 m² WC Second Floor Stores 55.76 m² WC
LEASE TERMS
The lease is for 6 years from 17th February 2022. The rent is £27,500 per annum payable quarterly in advance. The lease is drafted on full repairing and insuring terms subject to a pictorial schedule of condition and was subject to a tenant’s option to break on the third anniversary which was not implemented.
TERMS
£350,000 is sought for the freehold interest, subject to the existing lease.
RATES
Rateable Value – £27,000 (2023 List)
SERVICES
We have not tested the services connected to the premises.
LEGAL COSTS
Each party to be responsible for their own legal fees.
MONEY LAUNDERING REGULATIONS
In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.
