St Ives, Cornwall

* Preliminary Advert * An extremely large piece of Georgian real estate set in the heart of St Ives offering incredible investment opportunity and further development. Currently the property offers a large established national chain shop with forward lease, 2 spectacular apartments with Georgian character features offering stunning sea and coastal views over towards Smeatons and beyond, 10 ( TEN) off road secure electric gated parking spaces and a further Grade II listed former stables and grooms quarters with listed planning consent to convert into a residential dwelling. This is truly an amazing property. Call for further details.

Description

This is extremely rare opportunity to purchase prime commercial and residential real estate in the centre of St Ives, set within a fantastic Grade II listed building with the added benefit of development with secure parking for 10 cars.
The ground floor offers a large retail space currently rented to Trespass Europe Limited with onward lease of 10 years from 2019 Along with the large shop space there is lower ground floor storage, kitchen space, office space and WC with access to the rear parking area.
On the first floor with separate access is a fantastic and spacious 2 bedroom apartment which has been recently upgraded and refurbished but still retaining many of the original Georgian features. Also offering fine sea and coastal views. Currently being used as a long term let.
On the second and third floor is another extremely large 2 bedroom apartment offering the same character Georgian features and also offering superb sea and coastal views over the Parish Church towards...

Accommodation

Ground Floor - 122 sq. m (1,313 sq. ft)

First Floor Apartment
Living Room - 25.5 sq. m (285 sq. ft)
Bedroom One - 12.72 sq. m (137 sq. ft)
Bedroom Two - 14.59 sq. m (157 sq. ft)
Kitchen / Diner - 20.59 sq. m (222 sq. ft)
Bathroom / WC

Second Floor Apartment
Living Room 18.02 sq. m (194 sq. ft)
Bedroom One 11.52 sq. m (124 sq. ft)
Bedroom Two 16.28 sq. m (175 sq. ft)
Kitchen / Diner 32.12 sq. m (346 sq. ft)
Bathroom / WC

Lease details

Ground Floor
The whole of the ground floor and basement is let to Trespass Europe Limited on the following terms

Term: 10 years from 2019
Tenant Break: Year 5
Rent: £40,000 per annum
Guarantor: Jacobs and Turner Limited
Repair: Proportional full repairing and insuring

Apartment One: Assured shorthold tenancy at a rent of £1400pcm
Apartment Two: Assured shorthold tenancy at a rent of £1500pcm

Tenure

Freehold interest with building, land and cottage

EPC

Apartment One - EPC D
Apartment Two- EPC C
Commercial - EPC E

Council Tax

Apartment One - B
Apartment Two - B
Trespass to be confirmed

Material Information

We understand the ground floor of the property is assessed for business rates as follows

Rateable Value £35,500

Services:
The property is connected to mains electricity, water and drainage

Planning:
Listed planning consent has been applied for the proposed conversion of the stable and grooms quarters into a residential dwelling as per planning application PA20/05799

Full details as follows
Planning Reference: PA20/05799
Alternative Ref: PP-08885452
Application Validated: 13 July 2020
Address: Lloyds Bank, 13 High Street, St Ives TR26 1RS

Legal Costs:
Each party to bear their own legal costs incurred in the transaction

Viewing
Strictly through appointment with ourselves and joint agents
Matt Gunn Commercial