Industrial for sale

Varfell Park, Long Rock, Penzance TR20

Multi-let Storage Investment on a 2.18 acre (approx. 95,000 sq ft) site; 109 Storage Containers, 13 Workshop/Storage units, 4 Yards, 1 Communications site. £276,204 annual income for last 12-month period. Reversionary potential; formalise tenancy agreements, re-gear communications site lease.

The land extends to an approximate total area of 2.18 acres. The rear 1.46 acres falls under the existing use of land as storage yard under Class B8 (planning reference number PA24/07701). The remaining 0.72 acres was previously used for Caravan and Vehicle sales with an associated storage yard / workshop area.

The site has 111 storage containers of varying ages (93x 20ft, 18x 40ft) 109 of which are owned by the client and form part of the sale, 2 of which are privately owned by tenants, 13 workshop/store units, 4 yards comprising 2 scaffolder yards, a yard area let to a scrap metal merchant, and a car sales forecourt at the front of the site. There is also a communications site let by EE Ltd & Hutchinson 3G UK Ltd on a 5-year lease from 28 August 2020 (currently holding over).

The 13 workshop/store units have been recently constructed, with timber front and rear elevations, metal sheet roofing and concrete laid floors. They are constructed between storage containers. Each workshop/store unit has sub-metered electric and water supply.

102 storage containers (9 vacant) are let on unwritten monthly standing order arrangements, 12 workshop/storage units (1 vacant) are let on 12 monthly term written agreements. 4 Yards are let on informal tenancies. 1 phone mast (communications site) is let by EE Ltd & Hutchinson 3G UK Ltd on a 5-year lease from 28 August 2020 (currently holding over).