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Price History
Our Summary
- Prime High Street Mixed-Use Freehold Investment Property in Falmouth High Street, Cornwall, TR11 Guide Price £190,000 to £240,000 * Buyers Premium Applies For sale by public auction
- unconditional online auction
- Town & Country Property Auctions are delighted to offer for sale by public auction this mixed-use property consisting of a duplex apartment and a commercial retail shop with tenant in situ all within this Freehold Grade II Listed building in Falmouth
- The apart benefits from almost 2,000 sqft of accommodation and is in need of modernisation
- 95 sq m requiring refurbishment, presenting scope for enhancement or redevelopment (STPP)
- The property will be entered into our 24th June auction which is held online and starts at 10am
- First Floor Flat In Need of Renovation Approx
- Ideal Investment Opportunity
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Description
The property is a mixed-use freehold building in Falmouth's High Street, consisting of a ground floor commercial unit and an upper residential flat. The commercial unit, which has a tenant in situ on a 15-year lease starting in February 2025, measures approximately 128 sq m and has a current passing rent of £18,750 per annum. The tenant is subject to regular rent reviews, offering a potential minimum contracted income of £281,250 over the lease term.
The upper floors comprise a first-floor flat requiring modernisation, with approximately 95 sq m of accommodation and five bedrooms, as well as loft space with Velux windows. The netusable area of the property is approximately 223 sq m, with a total combined area of the commercial and residential units being around 223 sq m. The building is a Grade II Listed property with an EPC rating of Commercial E (103) and Residential E (43).