Retail/Locksmith for sale in Penzance

COMMON USE CLASS: A1 Shops

This property is marketed by:
Smart Commercial Property Ltd

Key Features

• 627.34 sq. ft (58.28 sq. m) high street retail space with office accommodation plus well established locksmith business, Cornish Locksmiths - for sale £99,950
• 2-bedroom cottage - for sale £130,000 only with business (not to be sold separately)
• Alternatively, leasehold available on retail property and locksmith business subject to negotiation
• Nearby retailers include Boots, Costcutter, Sports Direct and Seasalt Clothing
• 450 feet from Penzance Railway Station, 26 miles from Truro and 37 miles from Newquay Airport

Location

Penzance is the largest town in West Cornwall set in Mounts Bay dominated by the historic St Michael’s Mount. Penzance is the main commercial centre for the West Penwith Peninsula with a comprehensive range of shopping facilities. In addition there are facilities to satisfy all, including banking, school and leisure requirements. There is a main line railway station just 450 feet from the subject properties, which connects to London Paddington. Newquay Airport, which connects to London Heathrow, is 37 miles. Truro is 26 miles and the A30, Cornwall’s main arterial route, is 2 miles. The town has the most westerly major harbour of the English Channel and ferry services operate to the Isles of Scilly which lie 28 miles beyond Lands End.

Description

The freehold of this retail property is being sold with the benefit of a thriving locksmith business, Cornish Locksmiths. The retail property comprises a retail area on the ground floor and an office, a kitchenette and WC on the first floor with a further mezzanine/loft

Schedule of Accommodation

Area Sq. ft Sq. m

Ground Floor Retail Area 242.19 22.5

First Floor Office 53.5 4.97

First Floor Kitchenette 122 11.33

First Floor WC 15.9 1.48

Mezzanine/loft (restricted head height) 193.75 18 

Tenure

Freehold retail property, locksmith business and residential cottage for sale as a complete package. The freehold of the retail property is available for £99,950 including the business and the cottage is available for a further £130,000. Alternatively, the leasehold of the retail property and locksmith business only are available subject to negotiation on a new FRI lease.

EPC

The property’s EPC is currently being assessed.

Business

Operating profit for Cornish Locksmiths in 2019 was £18,520 and £20,271 in 2018. Main customers include:

• NHS
• Live West Housing Association
• Cornwall Council
• Falmouth University
• Various holiday letting agents
• Various holiday maintenance businesses
• Professional firms such as estate agents, accountants, solicitors

The current freeholder has offered to provide an initial period of support/consultancy for the first month, free of charge. Thereafter, additional ongoing consultancy support could be negotiated at an hourly fee. Opening hours are currently: Monday-Thursday: 8.30am-5.00pm Friday: 9.00am–3.00pm Saturday: Mobile Only Sunday: Closed

Business Inventory

An inventory for Cornish Locksmiths can be provided to applicants after viewing only and proof of funding supplied beforehand. The estimated value of the inventory is £20,000, which includes MT5+ High Security Key Machine and Gem Engraving Machine.

Freehold Cottage

1 St John’s Place, a 2-bedroom cottage, is located just behind the 47A Market Jew Street. The cottage comprises an open plan kitchen/ living space on the ground floor and 2 bedrooms and a bathroom on the first floor. The cottage is NOT available separately