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Morfa Hall Cliff Rd 5,724 sq ft 100% Let Retail Property Newquay TR7 1SG £2,250,000 (£393.08/sq ft)
INVESTMENT HIGHLIGHTS
- Substantial Freehold Property Comprising 10 Retail Units and 13 Residential Apartments
- 4 Lock Up Garages
- Dedicated On-Site Parking for 25 Vehicles
- Current Income of £178,970 per annum
EXECUTIVE SUMMARY
The freehold of hits multi let retail and residential investment opportunity is available for the quoting price of £2.25 million. The property currently produces and income of £178,890 per annum.
The property affords a prominent corner site on Cliff Road / Oakleigh Terrace which was used as Morfa Home of Boys in the early 1900s The accommodation now provides 13 residential apartments comprising, 1, 2 and 3-bed properties, with 10 fully let commercial retail units. Accessible off Cliff Road, is car parking for approximately 10 vehicles, with further dedicated car parking to the rear of the site and four lock-up garages. The retail properties all benefit from external glazed frontage and are attractively presented throughout. A number of the apartments have been comprehensively refurbished in recent years and are all currently let on Assured Shorthold Tenancy Agreements.
The property affords a prominent corner site on Cliff Road / Oakleigh Terrace which was used as Morfa Home of Boys in the early 1900s The accommodation now provides 13 residential apartments comprising, 1, 2 and 3-bed properties, with 10 fully let commercial retail units. Accessible off Cliff Road, is car parking for approximately 10 vehicles, with further dedicated car parking to the rear of the site and four lock-up garages. The retail properties all benefit from external glazed frontage and are attractively presented throughout. A number of the apartments have been comprehensively refurbished in recent years and are all currently let on Assured Shorthold Tenancy Agreements.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
5,724 sq ft
Costar Property Class
B
Year Built
1963
Price
£2,250,000
Price per sq ft
£393.08
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.21
Total Plot Size
0.62 ac
Parking
25 Spaces (4.37 Spaces per 1,000 sq ft Leased)
AMENITIES
- Storage Space
NEARBY MAJOR RETAILERS
1 of 13
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Morfa Hall | Cliff Rd
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