Green Market, Penzance

£450,000

Guide price

We are pleased to present this four storey mixed investment opportunity which includes a ground floor retail unit as well four residential flats above. PRH Estate & Letting Agents occupy the ground floor and have a 20 year proportional full repairing and insuring lease which commenced in 2009. The 4 residential flats comprise of 3 x 1 bedroom flats and 1 sizable 2 bedroom duplex flat. Currently all of the residential flats are fully occupied under Assured Shorthold Tenancy.

Combined the building provides an income of £40,500 per annum.

The Grade II Listed building is situated in The Green Market, in the heart of the ancient market town of Penzance which has a comprehensive range of facilities including shopping facilities, hospital, primary and secondary schools and a college. The town is rich in history and the architecture in Chapel Street is famous for this as is the promenade and open air Jubilee Pool. Further leisure facilities are dotted around the town with bowling greens, tennis courts and wonderful parks close to the seafront and beach stretching Penzance. From Penzance, the train and bus station provide services to the rest of the country.

LEGAL COSTS: Each party to bear their own. VALUE ADDED TAX: This property is not registered for VAT

Flat 1

A well presented first floor apartment accessed via an external metal staircase to the rear of the building which leads to the entrance hall and communal stairs to all 4 apartments. The accommodation comprises of an open plan lounge and kitchen, double bedroom and a shower room. Currently let at £460 pcm. EPC - D.

Flat 2

A one bedroom apartment, also situated on the first floor and accessed via the external staircase. The accommodation comprises of an open plan lounge and kitchen, double bedroom and a shower room. Currently let at £480 pcm. EPC - C.

Flat 3

A second floor one bedroom apartment comprising of an open plan lounge and kitchen, a double bedroom and a bathroom. Currently empty - previously let at £500pcm. EPC - D.

Flat 4

Situated on the second and third floor of the building. Comprising of a lounge, kitchen and 2 double bedrooms on the second floor. The third floor leads to the bathroom and the dressing room. Currently let at £560 pcm. EPC - D.

The Ground Floor

The ground floor is occupied by PRH Estate & Letting Agents with the remainder of a 20 year proportional full repairing and insuring lease which commenced in 2009. The rental income is £16,500 per annum.

Arrange viewing 01736 438433

PRH Estate Agents - Penzance

4 The Green Market, Penzance, Cornwall

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