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Cornwall Street, Plymouth PL1 36 bed end of terrace house for sale
Cornwall Street, Plymouth PL1
£2,000,000
Cornwall Street, Plymouth PL1
£2,000,000
Our Summary
- ***SUBSTANTIAL MIXED RETAIL AND STUDENT INVESTMENT OPPORTUNITY SITUATED IN THE HEART OF THE CITY, GROSS YEARLY INCOME OF £229,725 PA***Arranged over four floors with the ground floor housing a self contained retail unit (2,821 square foot) currently occupied and producing £37,525 PA
Description
This mixed-use investment opportunity is situated in the heart of the city, offering a substantial income potential. The property features a self-contained retail unit on the ground floor, currently occupied and generating £37,525 per annum. The upper three floors, built circa 2018, comprise 36 en-suite rooms divided into nine self-contained four-bedroom apartments, each equipped with modern kitchens, fully furnished living spaces, and comfortable bedrooms. The apartments produce a gross income of £192,200 for the 2023/2024 period. The property is leasehold, with a 125-year lease from 2014, and ground rents of £3,000 per annum for the ground floor and £3,000 per annum for the upper floors, payable to Plymouth City Council.