Lot 112: UNBELIEVABLY RARE COASTAL INVESTMENT/RE-DEVELOPMENT OPPORTUNITY

Commercial Investment - Cornwall
Commercial Investment - Cornwall
Beach elevation and side.
Commercial Investment - Cornwall
View from property.
Commercial Investment - Cornwall
Sold £132,000

A probably once in a lifetime chance to acquire perhaps the most unusual, versatile and picturesque coastal investment opportunity with some development potential that has come to the market for years. The property quite literally opens out onto the pebbles of Cadgwith Cove and already has in place three income streams that together bring in circa £2,900 per annum. It also offers the particularly valuable local commodity of parking, by way of garaging accessed from the Cove road.

In physical terms, but subject to all necessary consents being obtainable, there is scope for maybe some form of innovative residential space particularly at the Cove end of the building. However, even without this the prospect of rents coming in and having somewhere to come down and spend time undercover looking out over and enjoying the sea whether it’s wearing a calm or stormy cloak is simply spine-tingling.

Local Planning Authority

Cornwall Council. Tel: 0300 1234 151. Website: cornwall.gov.uk

Accommodation

Facing the Cove Road on the ground floor is The Cadgwith Cove Crab Shop, above which is The Crows Nest Art Gallery. To the side of the front elevation are double garage doors that lead to an L-shaped open storage area with two secure stores. In addition, there is a particularly large expanse of mezzanine loft space. At the beach end of the building are double doors that open to the pebbles and alongside these is a ladder leading to a loft area with a window looking directly out to the Cove too.

Tenancy

The Cadgwith Cove Crab Shop is let at £1,400 per annum, The Crows Nest Art Gallery is let at £1,000 per annum with parts of The Fisherman’s Store bringing in £500 per annum as they have done for about ten years. Thereby the total income is £2,900 per annum. Please refer to the legal pack for further information.

Auctioneer’s Note

For information relating to the commercial element’s rateable value and other available data go to www.gov.uk/correct-your-business-rates and enter the postcode for the property into the appropriate search field.

Viewing

Parking is somewhat restricted in the village and we would strongly recommend that viewers park in the Cadgwith Car Park (TR12 7JZ) which can be found in New Road just to the north of the Ledra Close junction.

Tenure

Freehold.

Commercial EPC: TBC