Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Freehold property in a prime town centre location
- Total current income: £795 per month
- Potential income (with basement refurbishment): £1,195 per month
- Established tenants providing immediate rental income
- Excellent potential to increase income with refurbishment of the basement studio
- In a prime location
We are pleased to offer to auction this great freehold investment opportunity - prime Fore Street location, Liskeard, Cornwall.
An exceptional investment opportunity has become available in the thriving market town of Liskeard, Cornwall. This versatile freehold property offers a blend of commercial and residential elements, generating immediate rental income with excellent potential for further development. Located on Fore Street, a busy thoroughfare with strong foot traffic, this property presents a great option for investors seeking both short-term gains and long-term growth.
· Ground Floor Retail Space: The shop is currently leased to a local book seller on a 2-year contract, commencing from 01/10/2024. The tenant is paying £135 per month, ensuring a reliable rental income stream.
· Spacious 3-Bedroom Flat: Situated above the shop is a 3-bedroom apartment, rented out on a short-hold tenancy agreement. The tenants, a couple, have been in residence since 12/07/2015 and are paying £660 per month. This unit provides stable, long-term income.
· Basement Studio Apartment: The basement offers the opportunity to create a 1-bedroom studio flat, which requires refurbishment. Previously rented at £400 per month as of March 2020, this space has excellent potential to add value to the property. With renovation, it can quickly become another source of income.
Don’t miss out on this fantastic investment opportunity offering both current income and future value potential in a highly desirable location!
Please note we have not inspected this property.
Rooms
Location
The subject property is located along Fore Street, a commercial street in Liskeard. The property is well situated and benefits from being close to shops, local transport links and road access. Liskeard is a bustling market town in southeast Cornwall, known for its historic charm and excellent transport links. Fore Street is the heart of the town's commercial district, providing ample opportunities for business growth and strong rental demand. The property is well-positioned near amenities, local shops, and transportation.
Tenure
Freehold. Title number CL176868.
Rateable Value
The current rateable value is £5,000 (1 April 2023 to present).
Sourced from VOA.
We have been informed by the vendor that there are no rates payable due to the small size of the shop.
Council Tax
Band A.
We have been informed by the vendor that there is no Council Tax to pay on the basement flat, until renovations are complete and the Council tax for the 3 bed flat above the shop is band A, but paid for by the current tenant.
EPC
We are currently awaiting a copy of the energy performance certificate.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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Broadband availability and predicted speed
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Energy Performance data and Internal floor area
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