Development, Investment

13-14 Market Place, Penzance, TR18 2JB

  • Penzance
  • £650,000
  • 7,019 Sq Ft

Property Features

  • INVESTMENT / DEVELOPMENT OPPORTUNITY
  • PROMINENT CENTRAL LOCATION
  • GROUND FLOOR GENERATING ANNUAL INCOME OF £36,020
  • UPPER FLOORS CURRENTLY USED AS OFFICE
  • ENERGY PERFORMANCE RATING (E)

Property Summary

An imposing, grade II listed, Georgian premises located in central Penzance. Multi-tenanted ground floor trading space with two uppers floors sold with vacant possession and well suited for either office space or potential residential redevelopment.

Full Details

Accommodation:

Ground floor

Unit 1 - 72.3sqm (778sqft)
Unit 2 - 39.6sqm (426sqft)
Unit 3 - 114.5sqm (1,232sqft)

Total - 223.4sqm (2,436sqft)

First floor

Total - 187.0sqm (2,013sqft)

Second floor

Total - 166.5sqm (1,792sqft)

Grand total - 567.9sqm (7,019sqft)

Description:

A well-appointed, impressive Georgian building with accommodation over three floors. Centrally located in Penzance town. The attractive, arcade-style, ground floor is occupied by three retail tenants, with the two upper floors available with vacant possession having been refurbished to a high standard.

The upper two floors are best suited to office use, though these could be converted and would make an attractive prospect for residential occupiers.

Schedule of Tenancies:

Cafe Suite 1:
Rent: £12,000
Lease Expiry: 22/02/2033
Leased By: Cornish Food & Drink Ltd

Office Suite 2:
Rent: £5,520
Lease Expiry: 01/09/2019 (currently holding over)
Leased By: The Beauty Box

Office Suite 3:
Rent: £18,500
Lease Expiry: 02/01/2020 (currently holding over)
Leased By: Seaway Insurance Consultants Ltd

Total Current Rent from Building: £36,020 plus VAT

Viewings:

Interested parties are recommended to walk by and ensure the location and situation is suitable in the first instance. An internal inspection can then be arranged via Redgrave Commercial.

More Information

  • Make Enquiry
  • Floorplan
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  • View EPC
  • Call 07866 584118