Bank Street, Newquay, TR7

An exceptional and rare opportunity to acquire a prime investment property, ideally situated in the heart of Newquay Precinct, offering an excellent trading position near beaches and local amenities.
Business not affected

Agents Note

Supplied services and appliances have not been tested by the agent. Prospective purchasers are advised to make their own enquiries.

The Situation

Bank Street serves as the primary retail hub in Newquay, located within the town s busy pedestrianised precinct. The area features a strong presence of national retailers to include Boots, Superdrug and Peacocks, reflecting its importance as Cornwall s largest holiday resort. Significant residential development is currently underway, including a major growth area and additional housing projects. These developments are expected to deliver approximately 5,000 new homes over the next 10 to 15 years, potentially increasing the town s population by 15,000 to 20,000 people. This would bring Newquay s total resident population to over 40,000.

The Property

Comprises a substantial building having ground floor trading area of 1082 Sq Ft along with storage areas, kitchen and bathroom. There are two apartments located on the first and second floors which have both been sold on a 999 year lease. The property generates a current income of ?44,000 per annum rising to ?48,000 in year five

The Lease

A new 9 nine year lease outside the Landlord and Tenant Act has been agreed with existing tenant with tenant only break clause at year 5.

Retail Area One

irregular in shapeIndustrial style space. Feature lighting. Opening into

Retail Area Two

irregular in shapeIndustrial look. Door leading to Kitchen, WC and rear exit.

Rear Storage/Kitchen/WC

Counter Area/Storage

Leading to rear storage area

Rear Storage Area One

irregular in shapePassage way and step leading to

Rear Storage Area Two

irregular in shapeDoor to courtyard. Storage racking. Three velux sky lights. Ceiling mounted lighting.

Services

Mains electric, water and drainage can be found at the property, however we have not verified any of the connections,

Council

Cornwall County Council, 39 Penwinnick Road, St Austell, PL25 5DR

Viewings

By appointment only through the Vendors agentDavid Ball Commercial 01637 850850