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23 Market Jew St 782 sq ft Retail Unit Offered at £179,000 in Penzance TR18 2HR
INVESTMENT HIGHLIGHTS
- INVESTMENT OPPORTUNITY
- GROUND FLOOR RETAIL SALES WITH PART FIRST FLOOR
- WELL PRESENTED GROUND FLOOR RETAIL SALES AREA TO BE USED AS A CAFE
- PENZANCE TOWN CENTRE RETAIL SHOP
- LET ON A NEW 6-YEAR LEASE AT £15,000 PA
- SITUATED AMONGST A NUMBER OF NICHE RETAILERS
EXECUTIVE SUMMARY
23 Market Jew Street is a mixed use, early 19th century four-storey mid-terrace building of rendered brick and stone, in a prime site on the main shopping street of Penzance. The property is located within a designated Conservation Area, providing a historically significant setting, and has undergone extensive repairs and regular maintenance. The property is located in Penzance, the commercial and administrative centre for Cornwall, in the very south west of the country. Penzance has a resident population of circa 20,000 persons and is an important centre and harbour town. The property is situated on Market Jew Street the town’s principal retailing location, opposite the entrance to the Wharfside Shopping Centre and the substantial Harbour town car park. Centrally located, the property occupies a prime position amongst a wide range of commercial occupiers.
PROPERTY FACTS
| Total Property Size | 782 sq ft | Typical Floor Size | 261 sq ft |
| Property Type | Retail (Unit) | Year Built | 1780 |
| Property Subtype | Shopfront Retail / Residential | Tenancy | Single |
| Costar Property Class | C | Total Plot Size | 0.04 ac |
| Floors | 3 |
| Total Property Size | 782 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | C |
| Floors | 3 |
| Typical Floor Size | 261 sq ft |
| Year Built | 1780 |
| Tenancy | Single |
| Total Plot Size | 0.04 ac |
AMENITIES
- EPC - E
- Storage Space
1 UNIT AVAILABLE
Unit GF
| Unit Size | 782 sq ft | Unit Use | Retail |
| Price | £179,000 | Sale Type | Investment |
| Price Per sq ft | £228.90 | Tenure | Freehold |
| Unit Size | 782 sq ft |
| Price | £179,000 |
| Price Per sq ft | £228.90 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
DESCRIPTION
The premises offer a well presented ground floor retail sales area, recently let for use as a cafe. The remainder of the building is residential uses which are not included the sale.
Accommodation (Areas are approximate):
Ground Floor
Retail
Net Internal Width - 6.0m (max)
Net Internal Depth - 10.9m
Net Retail Area - 58.7 sq m (631 sq ft)
Store - 5.0 sq m (53 sq ft)
First Floor
Store/Office/Staff Room 9.1m (98 sq ft)
Upper floor residential to be retained by a long leaseholder.
SALE NOTES
£179,000 for the freehold, subject to lease.
A new 6-year lease has been granted with effect from the 16 May 2025 to and including the 15 May 2031 at a rent of £15,000 per annum with a rent review on the 16 May 2028 and a tenant only break on the 15 May 2028.
The property has a current rateable value of £12,000 (VOA website 2023 List).
Internal space
Internal space
Internal space
NEARBY MAJOR RETAILERS
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23 Market Jew St
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