Carthew Terrace, St. Ives Offers in Excess of £1,500,000
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An extremely rare investment or subject to consents and tenants rights, a development opportunity, located along one of St Ives most well thought of and prestigious terraces overlooking the world famous Porthmeor Beach and out along the coastline to Manshead and Godrevy Lighthouse. This is a very attractive multi let freehold property containing 11 self-contained apartments plus parking for eight vehicles and a garage. Ten of the apartments are currently all let on an AST basis, with some tenants being in long term occupation, while one of the apartments is used for the owners own living accommodation. Excellent current income of approximately £86,000 per annum (plus the owners vacant unit). These large multi let properties are not found too often in St Ives, particularly not in this location. for more information please contact us.
Location
Trecarrell House is a remarkable period property nestled at the end of Carthew Terrace, one of the most sought after terraces within St Ives offering far reaching sea and coastal views over Porthmeor Beach and the surrounding coastline. St Ives is a picturesque coastal town renowned for its stunning beaches, charming streets and vibrant art and culinary scene. The town attracts visitors from all over the world looking for relaxation and adventure alike. The town's mild climate, beautiful landscapes and vibrant community, residents enjoy a laid-back lifestyle. The strong sense of community is evident through the various local events and festivals that celebrate the town's rich cultural heritage. Residents can easily engage in outdoor activities.
Description
The property consists of 11 self-contained apartments, many of which offer stunning coastal views of Porthmeor, St Ives and extend towards Godrevy Lighthouse. The location truly needs to be experienced to appreciate its full potential. All residential units are currently let on Assured Shorthold Tenancies, with some tenants having resided there for over 10 years. The vendors currently occupy apartment number 7 on the top floor, which boasts panoramic views. Additionally there is the possibility to create a 12th apartment. We believe this represents a unique opportunity that will attract a wide range of both developers and long-term investors. Plans are available for inspection. The property also includes a car park at the front, which has potential for development and provides valuable parking for all apartments. The car port and garage offer further parking options, adding to the appeal of this area.
Apartments / Accommodation
Flat 1
AST start date - 31/10/2016 with rent of £9204 pa EPC - D 41 Sqm
Flat 2
AST start date 17/02/17 Rent of £8320 pa EPC - E 37Sqm
Flat 3
AST start date 27/05/20 - Rent of £9204 pa EPC - C 47 sqm
Flat 4
AST start date 09/01/09 - Rent of £8060 pa EPC - D 38Sqm
Flat 5
AST start date 01/05/19 Rent of £9880 pa EPC - D 47Sqm
Flat 6
AST start date 06/05/21 Rent of £9100 pa EPC - D 38 Sqm
Flat 7
Owners accommodation
Flat 8
AST start date 23/12/22 rent of £8060 pa EPC - D 31 Sqm
Flat 9
AST start date 01/04/03 - Rent of £8052 pa EPC - C 29 Sqm
Flat 10
AST start date 20/10/13 rent of £8060 pa EPC - C 31Sqm
Flat 11
AST start date 27/02/10 - rent of £8060 pa EPC - C 31Sqm
EPC's
All the certificates are available from the government website.
- MULTI LET FREEHOLD PROPERTY
- 11 SELF CONTAINED APARTMENTS
- PARKING FOR EIGHT VEHICLES PLUS GARAGE
- SUPERB LOCATION WITH OUTSTANDING SEA VIEWS
- DEVELOPMENT OPPORTUNITIES SUBJECT TO CONSENTS
- RENTAL REVERSION ANTICIPATED
- EXTREMELY RARE OPPORTUNITY
Request A Viewing
St. Ives TR26 1EB
Cross Estates
