Mixed Use Investment Opportunity 1/1A & 3 Wendron Street and 2/2A Meneage Street,

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, 02

Investment Considerations

• Town centre mixed use investment opportunity • Current income £55,860 per annum • Tenants include Done Brothers (Cash Betting) Limited and White Cross Dental Care Limited

Location Helston is a popular market town located on Peninsula approximately mid way between Falmouth and . The town is situated at the junction of the A394 and A3083 and serves the surrounding rural area. In addition the Royal Navy air station at Culdrose is close by and the area also benefits from a seasonal influx of tourists.

Situation The property is situated at the junction of Meneage Street and Wendron Street within the town centre. Nearby occupiers include NatWest, HSBC, Lloyds and Santander banks, M&Co, WH Smith, Julian Graves and Londis.

Description The property is arranged to provide a single retail unit fronting Meneage Street and two retail units fronting Wendron Street. The upper floor comprises a Dental Practice including a large reception, store and staff area and a first floor flat which has been sold on a 999 year lease from March 2007.

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, Cornwall 03 Accommodation

The premises have been measured in accordance with the RICS Code of Measuring Practice (6th Edition) on a net internal area (NIA) basis and comprise the following approximate areas:

Property Use Area (sq m) Area (sq ft) 1 Wendron Street Retail 35.2 379 3 Wendron Street Retail 54.6 588 1/3 Wendron Street Communal 11.80 127 WC/ storage 2/2A Meneage Street Retail 187.5 2,040 2/2A Meneage Street Ancillary 15.4 166 1st Floor, 2 Meneage Dental Surgery 136.2 1,466 Street TOTAL 440.07 4,766

Tenure Freehold

Redline boundary is for indicative purposes only

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, Cornwall 04

For further information or to arrange an inspection Tenancies please contact the sole agents. Next Review/ Address Tenant Lease Terms Current Rent Reversion Alder King Chy Nyverow 1 Wendron Street Mr A Bushell (t/a 9 years from 17/09/10, rent re- £4,500 pa Rent Review 2013 Helston Pet Supplies) view every 3rd year, proportional Newham Road FRI. TR1 2DP

1A Wendron Street Paula Jane Ferguson 999 years from 09/03/07. £100 pa Tom Duncan:

3 Wendron Street Abdul Monsur 15 years from 08/08/08, rent £5,500 pa 2011 Rent Review 01872 227005 Choudhury (t/a India review every 3rd year propor- (outstanding) [email protected] Indian Restaurant) tional FRI. 2 & 2A Meneage Done Brothers (Cash 15 years from 5/4/2006, rent £35,000 pa Rent Review 2016 Street Betting) Limited review every 5th year proportional FRI.

1st Floor, 2 Meneage Whitecross Dental 15 years from 26/03/12, rent £10,760 pa Rent Review 2017 Street Care Ltd review every 5th year, SUBJECT TO CONTRACT & proportional FRI. Tenant break EXCLUSIVE OF VAT in 10th year. TD/1/73747 Total £55,860 April 2012

Proposal Offers in the region of £600,000 are invited for the freehold investment, subject to the existing tenancies. A purchase at this level reflects a net initial yield in the region of 8.75% after allowing for purchaser’s costs at

Important: Alder King for themselves and for the vendors of this property, whose agents they are, give notice that: 1. The particulars contained herein are for guidance purposes only and do not constitute either part or whole of an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact, and must satisfy themselves as to their correctness. 3. No person in the employment of Alder King has any authority to make or give any representations or warranties whatsoever in relation to these properties. 4. No responsibility can be accepted for expenses incurred by intending purchasers in inspecting and considering the properties which are offered. Under the Control of Asbestos Regulations 2006 (CAR 2006), the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining or repairing it, may be under a statutory obligation to detect and manage any asbestos or asbestos related compounds contained within the property. Failure to comply with the CAR 2006 is an offence and could adversely affect the value of the property. The detection and management of asbestos and asbestos related compounds is beyond the scope of our expertise and does not form part of the services that we have agreed to provide in respect of the property. Accordingly: 1. Alder King do not accept any responsibility for, and you should not place any reliance on us in respect of, the detection and/or management of any asbestos and/or asbestos related compounds contained in the property. 2. We strongly recommend that you obtain advice from specialist environmental consultants in respect of asbestos related issues.

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, Cornwall 05

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, Cornwall 06

1/1A & 3 Wendron Street & 2/2A Meneage Street, Helston, Cornwall 07 Energy Performance Certificates

EPC’s have been produced and are available for inspection.