The building is of reasonably modern construction consisting of steel frame with insulated cladding to the walls and roof. The unit has been fitted out with wall linings, carpets and ceilings to create separate spaces and has recently had the electrical installation upgraded. There is an external yard with rights to park vehicles in front of the units.
The existing use class is understood to be for industrial units although Unit 2 has benefited from a restricted retail consent in the past. The property could be suitable for various alternative uses (subject to obtaining the necessary planning consents).
Merchants Quay is accessed from Pennygillam Way, which is the primary arterial route through the estate with a busy flow of traffic passing. A shared level concrete compound/yard space in front of the unit provides reasonably level access onto Pennygillam Way. The building is accessed from the parking area via two sets of glazed double doors. The main open plan area includes slatwall panels in some areas (for hanging merchandise) and a false ceiling with integral ceiling lights. The false ceiling is insulated above. There is a small room off the main area which could be suitable for office or storage. A larger room, which could be suitable for production or storage is accessed from double doors off the main area. The unit is partially carpeted and includes an air conditioning/heating unit in Unit 1 (note the air conditioning/heater unit has not been tested by the Landlord or agent). The area above Unit 2 has been fitted out with floor joists making it potentially possible to use this area for additional storage or accommodation (subject to compliance with relevant laws). The internal ceiling height at ground floor is approximately 2.54m from floor. If the units were stripped out to return the units to full height industrial/warehouse premises, it is estimated there is approximately 5.12m to eaves and 5.84m. to ridge. There are 2No. roller shutter doors above the glazed entrance doors, which could potentially be reinstated if the units were stripped out (subject to checking serviceability).
Each party will be responsible for their own legal costs.
Offers in the region of £19,000 plus VAT per annum are sought for rental or £235,000 plus VAT for a freehold sale.
Terms of Lease
The property is available on an internal repairing basis, although the tenant will be responsible for maintaining external doors and windows. The Landlord will recover insurance (at cost) and maintenance rent (10% plus VAT of the rent) from the Tenant. The landlord envisages a lease term of three years or more and rent is to be paid monthly in advance. A deposit equivalent to 3 months of rent will be held by the Landlord during the term of the lease (note this could be increased if the Tenant proposes significant works).
The current rateable value (RV) is £11,750. The RV is as stated on the Valuation Office Agency (VOA) website service (effective date 1st March 2019). Information concerning how rates are calculated are available on the Cornwall Council website. It is possible the occupier could be eligible for small business rates relief (subject to confirmation with Cornwall Council).
The property is elected for VAT and as such VAT will be chargeable on the rent.
Subject to Contract
This brochure is for guidance purposes only and does not constitute an offer or contract. All descriptions, particulars and dimensions stated are understood to be correct, but prospective purchasers or tenants must satisfy themselves that the information is correct and not rely on the information if entering into a contract or incurring expenses.
Viewings are by appointment only. Contact Phil Wiltshire BSc(Hons) MRICS on:
01208 812 812
For full details please download the PDF Brochure, which also contains some useful links.