12 bedroom block of apartments for sale

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12 bedroom block of apartments for sale

Market Street, St. Austell, PL25
£390,000

Our Summary

  • The property has been granted planning permission to convert the top 3 floors in to luxury self contained apartments, whilst retaining the commercial units at ground floor pedestrian level
  • Therefore, the opportunity is to retain the property as a commercial investment, or utilitse the planning permission and convert the building
  • The lower ground floor, occupied by Millerson Estate Agents, is not affected by the planning permission
  • Further information can be found using the Cornwall Planning Portal using the reference PA20/06665

Description

This historic building in the heart of St. Austell, originally built as a steam brewery in the 19th century, has recently undergone significant renovations, including the replacement of the roof and windows. The property has been granted planning permission to convert the top three floors into luxury self-contained apartments, while retaining the commercial units at ground level. The property is currently let to three commercial tenants, generating £45,668.13 per annum, with a vacant office that is currently advertised for £10,800 PA. The opportunity exists to retain the property as a commercial investment or to utilize the planning permission and convert the building, which could generate an additional circa £56,000 PA. The lower ground floor, occupied by Millerson Estate Agents, is not affected by the planning permission and can continue to produce income once the apartments are completed.
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