Standout Features
- Investment opportunity
- To be sold as part of a company sale
- Main rental property in prime location
- Long term tenants already in situ
- EPC's - D/D/D/E/E
- Further income from leasehold properties
Property Description
PROPERTY DESCRIPTION INVESTMENT OPPORTUNITY! To be sold as part of the disposal of a company. The company owns a building in central Penryn comprising one studio and four one-bedroom flats, as well as a private road in Mawnan Smith. The Mawnan Smith property generates income through annual estate charges from 13 properties on the road and ground rents from 8 leasehold properties.
The rental income from the Penryn flats is approximately £39,400 per year, while the Mawnan Smith assets bring in just over £6,000 annually.
Following the retirement of one of the company directors, the owners are now looking to sell the company as a whole. Purchasing the company directly offers a significant advantage to the buyer-there is no stamp duty payable on the properties themselves, only a reduced stamp duty on the share purchase, estimated at around £2,000.
For more details, do contact our office.
FLAT 1 Ground floor one bedroom apartment. Modern open plan kitchen/living room. Modern bathroom. Separate bedroom. Currently rented at £675pcm. EPC rating - D
FLAT 2 First floor one bedroom apartment. Separate living room and kitchen. Modern bathroom. Double bedroom. Currently rented at £660pcm. EPC rating - D
FLAT 3 Second floor one bedroom apartment. Double bedroom. Kitchen/living room. Bathroom. In need of some modernisation. Long term tenant. Currently rented at £525pcm. EPC rating - D
FLAT 4 Top floor studio apartment with separate bathroom. Long term tenant. Currently rented at £525pcm. EPC rating - E
THE COURTYARD FLAT One bedroom. Living room. Separate modern kitchen. Bathroom. Private entrance. Currented rented at £695pcm. EPC rating - E
The rental income from the Penryn flats is approximately £39,400 per year, while the Mawnan Smith assets bring in just over £6,000 annually.
Following the retirement of one of the company directors, the owners are now looking to sell the company as a whole. Purchasing the company directly offers a significant advantage to the buyer-there is no stamp duty payable on the properties themselves, only a reduced stamp duty on the share purchase, estimated at around £2,000.
For more details, do contact our office.
FLAT 1 Ground floor one bedroom apartment. Modern open plan kitchen/living room. Modern bathroom. Separate bedroom. Currently rented at £675pcm. EPC rating - D
FLAT 2 First floor one bedroom apartment. Separate living room and kitchen. Modern bathroom. Double bedroom. Currently rented at £660pcm. EPC rating - D
FLAT 3 Second floor one bedroom apartment. Double bedroom. Kitchen/living room. Bathroom. In need of some modernisation. Long term tenant. Currently rented at £525pcm. EPC rating - D
FLAT 4 Top floor studio apartment with separate bathroom. Long term tenant. Currently rented at £525pcm. EPC rating - E
THE COURTYARD FLAT One bedroom. Living room. Separate modern kitchen. Bathroom. Private entrance. Currented rented at £695pcm. EPC rating - E
Additional Information
Tenure:
Freehold
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Penryn
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