CARBIS BAY INVESTMENT LAND, LAITY LANE, CARBIS BAY, ST IVES, TR26 3HW • GROUND RENT/SALE OF LAND OPPORTUNITY • PART OF FREEHOLD TITLE • OUTSKIRTS OF ST IVES • INCOME (GROUND RENT) & SALE (22 X £25K / 83 X £3.75K) MODEL • GROSS YIELD C. 6% (GROUND RENTS) • RETIREMENT SALE • EPC: N/A £499,950 FREEHOLD B41081 LOCATION The properties are situated in Carbis Bay, off Laity Lane, adjacent to a newly built market holiday village. Carbis Bay and St Ives requires little introduction to one of the county's if not the country's foremost holiday and residential destinations. This is a quiet site with a rural aspect. We understand there is permission in some adjacent land for housing development. THE PROPERTY/INVESTMENT We understand the site was originally developed in 1986/1987 as a holiday park for holiday use, which were converted to full residential consent in 1994, during which time the properties have been sold to private individuals, with a typical sale value (at the time of writing) in region of £150,000 to £160,000. Our clients retained the gardens and parking for the properties and therefore for sale is the current residual amount, being 22 gardens and 83 parking spaces. The gardens are typically selling for £25,000, alternatively, generate a ground rent of £1,321 per annum. Our client has sold 6 car parking spaces, with 83 remaining and these have been sold for £3,750 each, these do not attract any ground rent. In terms of the ground rents, these are collected 1 year in advance and are linked to the Retail Price Index, the total for the 22 is £29,062 per annum. COSTS ASSOCIATED WITH THE SITE Our client advises that the site owner is expected to cut grass and maintain the road to a 'reasonable' standard and supply street lighting, with an estimate of costs of circa £3,000 to £4,000 per annum. TENURE - FREEHOLD Title Number CL252493. A copy of the Title Plan is available PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not upon request and shows which of the 22 remaining garden intended to show actual site boundaries and not guaranteed to be accurate. plot numbers are yielding a ground rent and also the location AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or of the 89 (total) car parking spaces. lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul GENERAL INFORMATION the sale or be grounds on which compensation may be claimed and neither LOCAL AUTHORITY do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the Cornwall Council correctness of each of the statements contained in these particulars; [c] No General Enquiries 0300-1234-100 responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, Planning 0300-1234-151 plumbing, heating or electrical installations have been tested by the selling www.cornwall.gov.uk agent. Miller Commercial is the trading name of Miller Commercial LLP registered in ENERGY PERFORMANCE CERTIFICATE England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. Not applicable: not selling individual properties. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39. CONTACT INFORMATION For further information or an appointment to view please VIEWING: Strictly by prior appointment through Miller Commercial. contact either:- Graham Timmins on 01872 247019 or via email gt@miller- ESTATES GAZETTE AWARDED commercial.co.uk or MILLER COMMERCIAL Paul Collins on 01872 247029 or via email pc@miller- Cornwall's Most Active Agent commercial.co.uk 8th Year Running.