Lot 18 Click here for addendum
Freehold Commercial Investment - Gross Yield 14.8%
6 Week Completion
Situation
Occupying a prominent trading position in the town's main pedestrianised retail thoroughfare, close to branches of Superdrug and William Hill and a variety of independent retailers.
Liskeard is a popular market and tourist town providing a base from which to explore the surrounding countryside, located approximately 16 miles west of Plymouth and is easily accessible via the A38 and A390.
Property
A mid terrace Grade II Listed building comprising a Ground Floor Shop and Basement with internal access to Ancillary Accommodation on the first floor and an attic floor.
The property also includes separate rear access from Well Lane to the Basement and the Shop which in turn leads to the First Floor.
Accommodation¹
Ground Floor Shop
Gross Frontage 22'6"
Area Approx. 866 sq ft
Basement
Area Approx. 654 sq ft
WCs
First Floor Ancillary
Area Approx. 662 sq ft
WCs
Total Area Approx. 2,182 sq ft
¹Not inspected by Barnett Ross. Areas taken from VOA.
VAT is NOT applicable to this Lot
FREEHOLD
Tenancy
The entire property is let on a Law Society lease to C. Wellbelove (Clothing/Gifts/Sweets) for a term of 6 years from 16th June 2021 at a current rent of £19,200 per annum exclusive.
Rent Review June 2024
Planning
On 12th August 2005 Caradon District Council granted planning permission (for which work commenced) for: ‘Change of use of basement of shop to living accommodation, retention of ground floor retail use and internal alterations to ground, first and second floors (Ref: 05/00729/FUL).' There may be potential to reimplement a similar scheme for change of use, subject to obtaining possession and the necessary consents.
Refer to Auctioneers for relevant Documentation.
A Planning Application was submitted in 2021 to convert the upper parts into Residential.
Refer to Auctioneers for relevant Documentation.
