Description
The building is a former bank premises with significant floor space set over three floors. The building has been remodelled historically to join 14 and 16 Molesworth Street which were formally two separate premises. The remodelling has allowed for a large level ground floor to the front foyer area of the building. It might be possible to reinstate the two separate commercial units by utilising the former access door for 14 Molesworth Street and lowering the false floor to this area. Air conditioning systems for heating and cooling the building are fitted to some areas. There are many modern improvements throughout the building. The property is not understood to be listed albeit it is located in a conservation area. The premises could be suitable for alternative uses subject to obtaining appropriate planning consents.
Accommodation
The building is accessed from a large secure access door to an entrance lobby leading through an automated door to the former banking hall/foyer area and adjoining offices and further office/staff welfare spaces to the rear. The cashiers area to the rear of the foyer leads to a corridor to a staircase to the first floor of 14 Molesworth Street (No.14) and to the strongroom, which includes a large secure steel door and safes for secure storage. The office/staff welfare area to the rear has a pedestrian access to a private road to the back of the buildings running parallel to Molesworth Street.
The upper floors of 16 Molesworth Street (No.16) are accessed by a staircase from the entrance lobby. The first floor of No.16 includes three offices and a small toilet facility. The first floor of No.14 is accessed from the ground floor staircase to the rear and includes two storage rooms and large toilet facilities. In one of the storage rooms there is a fire escape door and external staircase leading to the flat roof above the ground floor below. The former first floor rooms to the front of No.14 have been made void to accommodate the raised ground floor created for a level floor to the ground floor foyer area.
The second floor of No.16 is accessed from the staircase off the entrance lobby and includes a kitchen facility and a large open plan office. Steps lead from the office down to a large open plan storage room occupying the second floor of No.14. A fire escape door from the storage room leads to an external staircase to the flat roof above the ground floor below.
The majority of the building has been modernised over the years to include upgrades to the mechanical and electrical systems. There might be an opportunity for a developer to convert the property back to two separate premises if desirable (No.14 and No.16) by lowering the false ground floor of No.14 and reintroducing a first floor and staircase accessed from the existing entrance door off Molesworth Street (subject to obtaining appropriate approvals). Layout plans available on request.
Legal Costs
Each party will be responsible for their own legal costs.
Price
Offers in the region of £395,000 for the freehold interest or £37,500 per annum for rental.
Terms of Lease
The property is available on a full repairing and insuring basis. The Landlord will recover the cost of insurance from the tenant (premium to be confirmed). The Landlord envisages a lease term of 10 years or more. The property will be available with vacant possession.
Business Rates
The current rateable value (RV) is £34,750. The RV is as stated on the VOA website service (effective date 1st April 2023). Information concerning how rates are calculated are available on the Cornwall Council website.
VAT
The property is not understood to be elected for VAT and as such VAT will not be chargeable on a sale or rental.
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.
Viewing Arrangements
Viewings are by appointment only. Contact Phil Wiltshire on:
01208 812 812
For full details please download the PDF Brochure, which also contains some useful links.