CHARTERED SURVEYORS COMMERCIAL PROPERTY CONSULTANTS PLANNING & DEVELOPMENT CONSULTANTS

REF: TONS - DETAILS PREPARED 05.11.2019

FOR SALE

INVESTMENT PREMISES

THE OLD NATIONAL SCHOOL ST. THOMAS ROAD, LAUNCESTON

PL15 8BU

PHOTO TAKEN MARCH 2011

• 409 SQ.M (4,404 SQ.FT.) ON THREE LEVELS

• ARRANGED IN 10 UNITS CURRENTLY PRODUCING £31,040

• TENANTS INCLUDE CORNWALL COUNCIL

• £295,000 REFLECTING 10.52% AFTER 4.75% COSTS

01822 611311

www.simonpowell.co.uk

LOCATION LOCATION PLAN THE PREMISES ARE LOCATED IN THE AREA MARKED X

SITE PLAN THE PREMISES ARE SHOWN APPROXIMATELY IN RED

SEPARATE ACCESS TO THE SECOND FLOOR

The premises are located in The Old National School complex just off St Thomas Road (the A388) below the town’s historic castle. Launceston Town Centre is within easy walking distance. DESCRIPTION The premises comprise a three storey detached building of traditional construction that was originally a school and was converted and split into a number of units that are currently used as offices. There are two external parking areas providing ample parking. The property has a shared gas central heating system, via a relatively new boiler and each unit has a sink or kitchen area. There are shared toilet facilities to include a disabled toilet on the ground floor. ACCOMMODATION (All sizes are approximate NIA) NIA – 409 sq.m (4,404 sq.ft.) EPC Energy Performance Certificate - Band E - Rating 105 Please ask for more information or go to our web site. SERVICES The building has mains gas, electricity, water and sewerage. All are shared by the various occupiers. PLANNING It is understood that the premises have consent for use as offices within Use Class B1. Interested parties are advised to contact Cornwall Council on 0300 1234 100 TENURE The premises are offered Freehold subject to the various leases as shown on the attached schedule. PRICE Offers in the order of £295,000 are sought which reflects an initial yield of 10.52% when allowing for costs of 4.75%, rising to 11.03% after two years. RATES Each unit(s) is/are separately rated. VAT The price will be subject to VAT LEGAL COSTS Each party to bear their own legal costs. VIEWING Strictly through the sole agents – Simon Powell Commercial Contact: Simon Powell T 01822 611311 E simon@simonpowell.co.uk

www.simonpowell.co.uk

Simon Powell Commercial for themselves and for vendors or lessors of this property give notice that: (1) the details above are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (2) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each item; (3) Simon Powell Commercial have no authority to make or give any representation or warranty whatever in relation to this property; (4) all terms quoted are subject to contract and are exclusive of VAT unless otherwise stated.

RENT RENT START TERM BREAK REVIEW(£) PSF(£) (Dated) Ends (period) (period)

01.09.17 5 18 & 20 01.09.2014.09.17 31.08.22 3

01.08.18 320.08.18 31.07.21 Annual

01.11.19 331.10.22 Anytime

01.04.18 302.05.18 31.03.21 Anytime01.09.18 319.09.18 31.08.21 Anytime01.12.15 6 18,19,20 01.12.1830.11.15 30.11.21 3

4,404 30,540

N.B.

Units 5,6,7,9&10 are under

Units 5,6,7,9&10 are under one lease - to be completed

10 Sarah Pinnell 190 0.00 IRI No Rent increases to £6,000 in YR2Rent increases to £7,000 in YR3

STEPHENSON PROPERTIES - THE OLD NATIONAL SCHOOL

SCHEDULE OF TENANTS

Rent increases to £7,000 in YR3Rent increases to £6,000 in YR2

SofC COMMENTS

Units 1-3 are under one lease

one lease - to be completed

In additon there are two parking permits allowing neigbours to park on the site and these produce £250 plus VAT each.

05.11.2019

IRI No

IRI No

IRI No

8.158,000982ACE School

UNIT TENANT G.I.A. (sq.ft.) FRI

1 YesIRICornwall Council 412 6.407,500

2

3

326Cornwall Council

433Cornwall Council

5&6 Sarah Pinnell

5.935,500194Sarah Pinnell7

330

132 540 4.09

11 The Waste Co 1,192 9,000 6.80

9 Sarah Pinnell

4

Rents are inclusive of service charges, with no other charges being made other than utilities.Units 5,6,7,9 & 10 pay a fixed rate of £500 pa for utilities, the rest on a proportionate basis

Windowless Store - Tenancy At Will

213 0.00 IRI No

IRI No

8 The Waste Co