Location
Prime High Yielding Retail Investment Let to Greggs on a Lease Producing £55,000 pa Uppers Let to Hairdresser from 1997 Producing £9,500 pa Total £64,500 pa
The property comprises a prime high yielding retail investment let to Greggs and occupying a high footfall street in Truro. Arranged across ground first and second floors, the property is let to two tenants. The ground floor is let to Greggs on a 10 year lease expiring 20/07/2032 and paying £55,000 per annum. The upper parts are let to a local hairdressers on a 25 year lease that commenced 25/07/1997 and producing £9,500 per annum. The lease expired 25/05/2021 and therefore tenant is currently holding over. We consider the property offers both asset management and development potential to the upper parts via either the renewal of the existing lease, reletting of the space or conversion to alternative uses, including residential, subject to the existing leases and obtaining any requisite consents. The property occupies a prime, high footfall, pitch in the centre of Truro; the administrative capital of Cornwall and a popular tourist destination.