Stable Hobba, Penzance, Cornwall, TR20

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Introducing an attractive investment prospect, this recently renovated freehold industrial unit is currently on the market for sale. Located within a well-established estate, this property offers the benefit of a fresh 10-year full tenant repairing lease, ensuring stability and promising potential for sustained returns in the long run.

The lease terms include a three-yearly rent review, ensuring that the rental income adjusts to the greater of market rent or RPI, further enhancing the investment potential. This arrangement offers investors a secure income stream with built-in mechanisms for rental growth, aligning with market conditions.
Don't miss out on this opportunity to acquire a commercial asset with a secure tenancy in place. Contact us today to seize this lucrative investment proposition.

Discover the picturesque town of Penzance, nestled in the Penwith district of Cornwall, United Kingdom. Boasting a rich history dating back to royal charters from 1512, Penzance sits as the most westerly major town in Cornwall. With its strategic positioning facing the English Channel and bordered by charming villages, including Newlyn, Mousehole, and Gulval, Penzance offers a unique blend of coastal charm and cultural heritage. Conveniently situated approximately 1.2 miles from Penzance, the Stable Hobba Industrial Estate serves as a hub for marine-related businesses, offering a mix of light industrial and warehouse units.

This estate comprises two levels featuring refurbished light industrial starter units, complemented by ancillary office accommodation and toilet facilities. The lower level consists of four blocks offering a range of unit sizes and ample parking, while the upper section houses three separate units along with a spacious ancillary car park. Units feature steel portal frame construction with brick and profiled metal cladding elevations, ensuring durability and functionality. Access is facilitated by roller shutter doors and a separate pedestrian entrance, enhancing convenience for tenants. Unit 5, with a generous Gross Internal Area (GIA) of 1,660 sq ft (154 sq m), presents a prime investment opportunity.

Unit 5 is currently leased to Mr A. Cole and Mr V. Bond, trading as Southwest Welding Fabrication and Automotive Refinishing Ltd, under a 10-year full tenant repairing lease from 30/10/2023. The lease incorporates three-yearly rent reviews to the greater of RPI or market rent, providing a steady rental stream with potential for growth. Additionally, a tenant-only break clause at the fifth year offers flexibility.

The industrial estate has seen successful transactions, including the recent sale of Unit 7a, illustrating its attractiveness to both existing and new tenants.

The industrial estate has recently concluded several successful sales, as evidenced by the transactions detailed in the accompanying plan. Most notably, Unit 7a was recently sold under favourable terms at a yield rate of 8.5%.

Furthermore, the estate demonstrates a strong ability to retain existing tenants, many of whom have opted to renew their leases. Additionally, the estate remains appealing to new tenants in search of modern premises. A prime example of this is the recent lease agreement for a new ten-year term at a rate of £10.00 per square foot, highlighting the continued demand for space within the estate.

Don't miss out on this opportunity to acquire a commercial asset with a secure tenancy in place. Contact us today to seize this lucrative investment proposition.