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Property for sale

Penhaligon House, Trinity Street, Cornwall, PL25 5BG
Auction
Property
Added > 14 days

Key information

TenureFreehold
Council taxAsk agent

Features and description

  • Tenure: Freehold
  • Freehold office investment
  • Entirely let to The Secretary of State for Housing Communities and Local Government until 2031 (subject to a tenant's break option in 2026)
  • Approximately 4,189.14 sq m (45,093 sq ft)
  • Site area approximately 0.87 hectares (2.15 acres)
  • Town centre location
  • Potential for future alternative uses (subject to consents)
  • Guide price reflects a gross initial yield of 10.89%
  • Producing £245,000 per annum (2)

A purpose-built three storey (plus basement) office building of traditional construction beneath a pitched roof. The building totals approximately 4,189.14 sq m (45,093 sq ft) and is arranged as a mix of open plan and cellular office accommodation. Externally there are bike stores and extensive surface car parking providing 164 car parking spaces. The building may lend itself to future alternative uses, subject to obtaining the necessary consents. Prospective purchasers are advised to make their own enquiries in this regard.


Location:

St Austell is one of the most populous towns in Cornwall lying approximately 10 miles south of Bodmin and 14 miles north east of Truro. The town benefits from excellent road communications with direct access to the A390, which serves as the principal arterial route to Truro, and the A391 located 3 miles to the north of the town, which leads to the Bodmin Bypass (A30). The extensive UK motorway network can be accessed via Junction 31 of the M5, which is located 75 miles to the north east, just south of Exeter. The town also has a strong bus network, which provides services to destinations such as Bodmin, Gorran, Mevagissey, Charlestown and Newquay, as well as tourist attractions such as the Eden Project and Heligan Gardens.

St Austell is also served by a far-reaching rail network, operated by Great Western Railway, who provide services to Exeter St David’s (123 minutes), Bristol Temple Meads (210 minutes), and London Paddington (260 minutes). Cross Country services are also provided, which provide access to further destinations including Birmingham New Street, Wolverhampton, Manchester, Leeds, York, Edinburgh and Glasgow. 

Cornwall Newquay Airport, the main commercial airport, is located 15 miles north west of St Austell. The airport services flights across the UK and selected destinations across Europe.

Trinity Street runs north west from South Street on the edge of the town centre. The property lies on the south side of the road directly opposite White River Place Shopping Centre, which provides a mix of retail and leisure uses.

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About this agent

Bidx1 - London
Bidx1 - London
Henry Wood House, 4-5 Langham Place London W1B 3DG
020 8033 0374
Full profileProperty listings
BidX1 are market-leaders in the digitalisation of property transactions, allowing buyers and sellers across the globe to complete transactions online in the most efficient and transparent manner. We combine industry-leading property expertise with proprietary technology to provide unparalleled levels of transparency, analytics and global reach, challenging the traditional process of marketing and transacting real estate. Our technology facilitates end-to-end online transactions, from listing to exchange of contracts.  To date BidX1 has sold over 10,000 properties through their digital platform, attracted visitors from 173 countries and buyers from 32 countries. A total value of £1.7 million worth of property sold has been sold via our digital platform.  BidX1 currently operates in the UK, Ireland, South Africa, Spain and Cyprus, with further expansion into other European markets planned to meet the demand for an alternative to existing sale processes. BidX1 has a varied customer base, including multiple institutional investors, banks, listed vehicles, receivers, liquidators and propcos, as well as individual private sellers wishing to avail of the transparency and data that the digital platform provides.  Their innovative approach has earned them recognition in the form of a number of accolades, including the Irish Times' New Frontiers Award 2018 and the Investment Award 2018 at the Estates Gazette Tech Awards. BidX1 has also been shortlisted for Newcomer of the Year and Proptech Innovator of the Year at the Property Awards 2019 as well as for Proptech Company of the Year at the PROPS Awards 2019.
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