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.

Tenure

Freehold

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: 03456 461361 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.

Energy Efficiency Rating (EPC)

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

Local Authority

Cornwall County Council

Solicitors

LCL Solicitors, Ref: Tilly Christopherson, Tel: 0208 045 6262

Offered in association with

The Property Experts - Paul Stone

Additional Fees

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

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