3 bed terraced house for sale

Albert Street, Penzance, Cornwall TR18

To be sold via Bradleys Online Auctions, powered by Bamboo Auctions. A fantastic opportunity to acquire the freehold of a substantial mixed-use property extending to approximately 4,532 sq.ft. (420.9 sqm.), occupying a highly desirable seafront position.



This versatile investment comprises a well-appointed apartment with a private roof terrace, together with commercial units offering excellent scope for business use, income generation, or development (subject to the necessary consents).
Arranged over three floors, the property provides flexible accommodation throughout. The lower ground floor features a large commercial unit, suitable for a variety of uses or potential redevelopment. Notably, planning permission was previously granted (Ref: PA17/02112) for the conversion of this commercial space into a two-bedroom residential flat over the lower ground and upper ground floors. Although this consent has since lapsed, it indicates clear potential for residential conversion, subject to re-submission and approval.
At ground floor level, there is further commercial space currently configured as a reception/staff area, offices, and storage rooms, which could also lend itself to conversion into a self-contained residential unit (truncated)

Development Opportunity

Planning History
Planning permission was previously granted under reference PA17/02112 for the conversion of the existing demised commercial space into a two-bedroom residential flat arranged over the lower ground and upper ground floors.
It should be noted that this consent has now lapsed, and any prospective purchaser would need to re-submit an application should they wish to pursue a similar scheme.

Commercial Unit Lower Ground Floor

Extending to approximately 1,667 sq.ft., the property comprises a former gym space offering generous open-plan use. The premises include a separate shower room, making it well-suited to continued fitness use or alternative commercial or residential conversion (subject to consents).

Ground Floor Commercial Unit

Extending to approximately 1,305 sq.ft., the property has previously been used as a taxi office, gym reception, and fitness area. The accommodation also includes a staff room, along with a range of offices and storage areas, offering a flexible internal layout.
The current configuration may also be suitable for residential conversion, subject to the necessary planning consents.

First Floor Apartment

Extending to approximately 1,580 sq.ft., the accommodation comprises a kitchen/dining room, lounge/bedroom three, and a separate W.C. There are two bedrooms, with the principal bedroom benefiting from walk-in wardrobes, together with a family bathroom. A small conservatory provides additional living space and enjoys access to the outside.
Externally, the property features a large decked roof terrace, offering an attractive private outdoor area.

Material Information

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1st Floor Apartment
Freehold
Council Tax - Band A
Local Authority - Cornwall Council
Utilities - Mains Water, Drainage, Electricity and Gas
Heating – Gas central heating
Parking – On Street
EPC - tbc.

Auction end date Friday July 24th at 11AM!

Online Auction Details

Auction end date Friday July 24th at 11AM!

This home will be offered for sale by Online Traditional Auction (unless sold prior) The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date.
The successful purchaser(s) will be liable to pay the sum of 4.2% incl VAT, subject to a minimum of 6k immediately after the auction.

Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide (truncated)