Par Moor Road, St Austell

Rare investment opportunity to acquire site with a block of 16 multi-let rentable units with permissions for redevelopment and new vehicular access set in the Popular St Austell Bay Business Park.

For Sale by Public Auction on the 19 September 2024.

Situation - Cypress House benefits from excellent access to several major road links, making it a highly accessible location for businesses. Par Moor Road itself connects directly to the A390, one of Cornwall's primary arterial routes, linking St Austell to the nearby town of Liskeard and city of Truro. This road and of course the new St Austell to A30 Link Road (set to open in Spring 2025) will together provide much improved access to the A30, a critical route linking Cornwall to the rest of the UK. Additionally, the A3082 provides a scenic route to the charming coastal town of Fowey, enhancing both business accessibility and regional appeal. These comprehensive road networks not only ensure superior accessibility but also positions Cypress House as a prestigious address for discerning businesses seeking a strategic foothold in one of Cornwall's most vibrant commercial areas.

The Existing Property - This prime industrial property, located within the thriving St Austell Bay Business Park, offers an exceptional investment opportunity. Built in 1997 and set in approximately 1 acre; the site combines modern office spaces with versatile workshops, offering a well-rounded environment for various business operations. The property includes 13 modern multi size office units designed to accommodate various business needs. Each office is ready for immediate use and maintained to a high standard. There are also 3 spacious workshops, each fitted with roller doors providing flexible space for industrial activities, storage or other commercial uses. The building includes comprehensive amenities such as an on-site dedicated meeting room that has been recently redecorated and offers a professional environment, well-maintained toilet facilities including multiple cubicles in both the ladies ' and men's toilets, and a fully accessible disabled toilet. Outside, the building is further enhanced by garden areas located to the north and east elevation and to the front of the building there is a generous parking provision.

The site is conveniently accessed by the main entrance of the popular St Austell Bay Business Park and is in close proximity to well established businesses including Toolstation, Brewers Decorator Centre, Screwfix, Westcountry and Spearfishing UK and therefore is perfectly positioned for success in a thriving commercial hub.

Planning - Full Planning Permission has been granted for the redevelopment of the site, allowing for the demolition of the existing building and the construction of 25 new commercial units arranged in four separate terraced blocks. Each unit benefits from Use Class E and features a mezzanine floor with a total floor area of 62.8m2. On the ground floor, every unit is designed with a kitchen, toilet and workshop area, ensuring functionality and convenience for a wide range of business operations. There is also Full Planning Permission to construct a new direct vehicular access from Cypress Avenue. This redevelopment offers a rare investment opportunity to create contemporary, versatile commercial spaces in a strategically located site. The site has potential for alternative redevelopment opportunities subject to obtaining necessary consents.

Tenure - The building is subject to a 5 year lease for the letting of several offices and workshop units ending on the 31 October 2028 and generates an income of £10,800 per annum. Please contact the lead agent for further details regarding the option for early termination of the lease.