Office for sale in Tregonissey House, Market Street, St. Austell, Cornwall PL25

For sale by auction on Thursday, 09 May 2024 at 14:00

Venue: Live Stream

Substantial Freehold Property With Planning Permission

A historic building within the heart of St. Austell with Planning Permission to convert into 9 residential apartments. The property was built as a Steam Brewery by Walter Hicks in the 19th Century and was the former home of St. Austell Brewery.

Currently, the property is let to three commercial tenants generating £45,668.13 per annum with a further unit currently vacant. The vacant office is currently advertised for £10,800 per annum and so the whole property could generate circa £56,000 per annum. Therefore, the opportunities are to either retain the property as a commercial investment or utilise the Planning Permission and convert the building. The lower ground floor, occupied by Millerson Estate Agents, is not affected by the Planning Permission and can continue to produce income once the apartments are completed.

There has recently been significant works completed on the building where the roof and windows were overhauled/replaced.

Auctioneers note
The property is to be offered with planning consent for:

'Change of Use to C3 to create 9 residential units on ground, first, second and third (loft) floors whilst lower ground floor remains as Use Class A2. Demolition to interior, alterations to existing windows and doors and addition of roof lights and dormers to roof'.

Further information can be found using the Cornwall Council Planning Portal using the reference PA20/06665.

Commercial income
Lower Ground Floor: Millersons llp - £11,518.13 pa.

Ground Floor: Victoria Community Care - £7,750 pa.

First, Second & Third Floor (front): £26,000 pa.

Two Parking Spaces To Rear: May Whetter Grosse - £400 pa (informal arrangement)

First & Second Floor Office: Vacant - currenty advertised for £10,800 pa.

For further information in please refer to the legal pack.

Accommodation
current:

Lower Ground Floor (Class A2): Millerson llp - 1,822 Sq Ft

Ground, First and Second Floor (front part): Lcl Solicitors - 3,500 Sq Ft

Ground Floor (rear part): Victoria Community Care

First & Second Floor (rear): Vacant - 2,246 Sq Ft

proposed:

Lower Ground Floor (A2 Commercial premises) - No change

Ground Floor: One bedroom apartment - 595 Sq Ft

Ground Floor: Two bedroom apartment - 861 Sq Ft

Ground Floor: One bedroom apartment - 517 Sq Ft

First Floor: One bedroom apartment - 764 Sq Ft

First Floor: Two bedroom apartment - 818 Sq Ft

First Floor: One bedroom apartment - 614 Sq Ft

Second Floor: One bedroom apartment - 764 Sq Ft

Second Floor: Two bedroom apartment - 958 Sq Ft

Second/Third Floor: Two bedroom apartment - 936 Sq Ft.

Viewings
Weekly block viewing sessions will be provided in the lead up to the auction. Please telephone Auction House South West T: To book a viewing slot.

Notice to bidder
Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction.

Full details
Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within our full details online on our website. All published information is to aid identification of the property and is not necessarily to scale.

EPC Rating: Front Building D98 / Rear D87 / 1st & 2nd Floor Office D88

Additional Fees
Administration Charge - £1200 inc VAT payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.