£300,000

Retail premises for sale

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Sold STC

Fixed price

£300,000

(£169.97/sq. ft)

Retail premises for sale

Market Jew Street, Penzance TR18

1,765 sq. ft

Local area information

Property location

Nearby amenities

  • Penzance 0.2 miles
  • Penzance Ferry Terminal 0.3 miles
  • St Mary's CofE Primary School, Penzance 0.4 miles
  • St Mary's Catholic School, Penzance 0.4 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

Investment Consideration:
Gross Initial Yield: 8.00%
Rental Income: £24,000 p.a.
VAT is applicable to this property
Comprises end-of-terrace two storey takeaway property with rear yard
Future residential development potential of the upper floor, subject to planning
Let to dp Realty Ltd (Domino`s) until April 2031, no breaks. Rent review in April 2026
Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, rnli Shop & Iceland amongst others.

Property Description:
Comprises two storey takeaway property t/a Domino`s pizza at ground floor with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 119 sq m (1,280 sq ft)
Open plan takeaway, kitchen, storage
First Floor: 45 sq m (485 sq ft)
Ancillary accommodation
Total area size: 164 sq m (1,765 sq ft)

Tenancy:
The property is at present let to dp Realty Limited* t/a Domino`s Pizza for a term of 20 Years years from 15th April 2011 at a current rent of £24,000 p.a. And the lease contains full repairing and insuring covenants. Rent review in April 2026 open market upward only. No breaks.
* - Domino's have over 1,200 stores across the UK & Ireland. For the year ended December 2022, dp Realty Ltd reported a turnover of £2.8M, a pre-tax profit of £1.3M, shareholders funds of £5.7M.

Location:
Penzance is a market town and a well established tourist centre on the Cornish Peninsular. The town is bordered to the north and east by the A30, a key arterial route through the South-West of England providing direct access to the M5 Motorway and A303. Penzance rail station is within 265 metres of the property providing direct services to London Paddington, Bristol and Exeter. The property is situated on the south side of Market Jew Street, at its junction with New Town Lane. Occupiers close by include Peacocks, Nationwide, Sports Direct, Mountain Warehouse, Poundstretcher, rnli Shop & Iceland amongst others.

More information

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Property descriptions and related information displayed on this page are marketing materials provided by - Blue Alpine Partners. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Cornwall
  4. Penzance
  5. Market Jew Street

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