A superb timber frame Holiday Investment House, with 52 week occupancy (holiday restricted).
Total gross yield for the year 2021 is anticipated to be well in excess of 10% based on an income of at least £24,000. The asking price is £235,000.
Other two and three bedroomed properties are available, more information available upon request.
6 Towan Valley is situated on an award-winning site (Hoseasons Diamond Award Winner 2018 and Runner Up in the Cornwall category in 2019) in a secluded and idyllic position on the eastern cliffs of Porthtowan just 8 miles to the north of the cathedral city of Truro.
It is a short walk from the surfing paradise of Porthtowan beach, one of only seven Blue Flag beaches in Cornwall and a seaside award winning beach.
It Is sheltered in the valley with fields and cliffs providing a classic backdrop. The coastal hotspots of St Ives, Newquay and Falmouth are easily accessible.
Unit 6 is a superbly designed house which sleeps up to 4 adults in style and comfort. It has an airy open plan living and dining area with comfortable sofas and contemporary furnishings, all included in the sale.
The property was built in 2012 and has on-site Wi-Fi provided by the Management Company.
Unit 6 sleeps up to 4 adults.
Large decked area with terrace
Balcony and Parking
Wooden floors throughout
2 Bedrooms (one en-suite with shower cubicle and toilet)
Bathroom (with shower over bath, wash hand basin and toilet)
As at 21/04/21 bookings for 2021 currently total £18,534. Income from Covid affected 2020 was £16,894. Anticipated income for 2021 is now in excess of £24,000.
Accounting information is available on request.
The communal areas are managed by Towan Valley Management Company.
Accounts for most recent years are available for inspection and show that the average service charge is circa £2500 per annum. This amount includes staff costs and buildings insurance, together with public liability insurance for communal areas.
Typically, private owners utilise the services of a holiday letting company who generally charge around 22% to manage the entire letting procedure including lettings, welcome, cleaning and replacement linen.
A 4-6 person hot tub can be installed at this property by the vendor for an additional sum of £7,000. Given the nature of the works to install, this will be carried out over the coming autumn/winter period and within 12 months of purchase.
We refer you to the government website
Although the property is subject to business rates when used for commercial letting, the current owner benefits from 100% rates rebate.
The purchaser should make their own enquiries however, we are advised that no business rates or council tax applies to this asset class.
Energy Performance Certificate
The Energy Performance Rating for this property is within Band C (70).
Each party to bear their own.
Value Added Tax
All the above prices/rentals are quoted exclusive of VAT, where applicable.
Gross Yield anticipated for 2021 is substantially better than 10%.
For further information or an appointment to view please contact either:
Peter Heather on 01872 247007 or via email firstname.lastname@example.org or
Thomas Hewitt on 01872 247025 or via email email@example.com
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.