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Morfa Hall Cliff Rd 5,724 SF 100% Leased Retail Building Newquay TR7 1SG $4,189,846 CAD ($731.98 CAD/SF)
INVESTMENT HIGHLIGHTS
- Substantial Freehold Property Comprising 10 Retail Units and 13 Residential Apartments
- 4 Lock Up Garages
- Dedicated On-Site Parking for 25 Vehicles
- Current Income of £178,970 per annum
EXECUTIVE SUMMARY
The freehold of hits multi let retail and residential investment opportunity is available for the quoting price of £2.25 million. The property currently produces and income of £178,890 per annum.
The property affords a prominent corner site on Cliff Road / Oakleigh Terrace which was used as Morfa Home of Boys in the early 1900s The accommodation now provides 13 residential apartments comprising, 1, 2 and 3-bed properties, with 10 fully let commercial retail units. Accessible off Cliff Road, is car parking for approximately 10 vehicles, with further dedicated car parking to the rear of the site and four lock-up garages. The retail properties all benefit from external glazed frontage and are attractively presented throughout. A number of the apartments have been comprehensively refurbished in recent years and are all currently let on Assured Shorthold Tenancy Agreements.
The property affords a prominent corner site on Cliff Road / Oakleigh Terrace which was used as Morfa Home of Boys in the early 1900s The accommodation now provides 13 residential apartments comprising, 1, 2 and 3-bed properties, with 10 fully let commercial retail units. Accessible off Cliff Road, is car parking for approximately 10 vehicles, with further dedicated car parking to the rear of the site and four lock-up garages. The retail properties all benefit from external glazed frontage and are attractively presented throughout. A number of the apartments have been comprehensively refurbished in recent years and are all currently let on Assured Shorthold Tenancy Agreements.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
5,724 SF
Building Class
B
Year Built
1963
Price
$4,189,846 CAD
Price Per SF
$731.98 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.21
Lot Size
0.62 AC
Parking
25 Spaces (4.37 Spaces per 1,000 SF Leased)
AMENITIES
- Storage Space
NEARBY MAJOR RETAILERS
1 of 13
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Morfa Hall | Cliff Rd
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