18 Fore Street, St Austell, Cornwall

Description

The property comprises a mid terrace building arranged to provide a ground floor shop and ancillary space on first and second floor levels. The large open-plan retail sales area benefits from a significant window frontage. The upper floors feature separate rear access via a roller door and there is potential for residential conversion, subject to planning permissions. The property comprises a total accommodation of 371.8 sq m (4,002 sq ft) and is prominently situated in the heart of a popular tourist town. It offers potential for alternative uses, subject to the necessary consents. Nearby occupiers include Vodafone, Holland & Barrett, and HSBC.

Accommodation

Ground floor shop with large open-plan retail sales area; ancillary space on first and second floor levels; separate rear access to the upper floors via a roller door; total accommodation of 371.8 sq m (4,002 sq ft).

Location

Situated on the southern side of the pedestrianised Fore Street, a popular retail street in the centre of St Austell, Cornwall. The property is a short distance from White River Place Shopping Centre. Nearby occupiers include Holland & Barrett, Clarks, EE, Boots, Vodafone and HSBC. St Austell Train Station is a 6-minute walk away and provides services to Penzance, London Paddington, Cardiff Central and Exeter.

Tenure / Property Information

Investment Analysis

The property is a vacant freehold mixed-use building of 371.8 sq m (4,002 sq ft) on Fore Street. Evidence includes a completed sale of the same address at £156,000 in April 2022 and a nearby Fore Street sale at £106,500 in March 2019. These transactions are not sufficient to establish a current GDV because dates, condition, use, leaseability and market adjustments are not provided. The guide is £120,000, but buyer fees, VAT and any seller charges are unclear. Residential conversion is only a potential use subject to planning and other consents.

Investment Snapshot

Strategy Recommendation

Proceed only after specialist commercial valuation, full survey, planning advice, VAT clarification and confirmation of buyer and administration costs. Do not bid on a residential-conversion or rental-return assumption without consent and evidenced demand.

Works Required

No specific defects or condition issues are evidenced, so a refurbishment scope and cost cannot be established. Any works for residential conversion, adaptation of the upper floors or alternative uses would be subject to planning, building-control and other necessary consents. Allowance would also be needed for professional investigations and any works identified by survey, but no numeric allowance is supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the evidence. There is no supported residential GDV, rent, refurbishment budget or refinance valuation. The 75% GDV refinance calculation is therefore unavailable. Planning risk is material because residential conversion and alternative uses require the necessary consents.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The existing use is a ground-floor shop with ancillary upper-floor space, and residential conversion is only potential subject to consent. VAT, buyer fees and other acquisition costs are also unresolved.

Flip Analysis

A flip appraisal cannot be calculated reliably. The £156,000 completed sale of the same address in 2022 is relevant historical evidence, but it does not establish current resale value or account for condition, works, selling costs, VAT or the intended use. The nearby £106,500 sale is also insufficiently detailed for a reliable valuation comparison.

Investor Risks & Due Diligence

• VAT treatment is inconsistent in the supplied information: the description states VAT applies, while the key features state the property is not elected for VAT.

• Buyer premium, administration charges and any other seller charges are not quantified.

• Residential conversion and alternative uses are only potential and require the necessary consents.

• No sufficiently specific rental evidence or passing rent is available.

• No condition report or refurbishment cost evidence is provided.

• Historical sales do not establish current market value or resale value.

• Six-week completion may create funding and due-diligence timing pressure.

Recommendation

Proceed only after specialist commercial valuation, full survey, planning advice, VAT clarification and confirmation of buyer and administration costs. Do not bid on a residential-conversion or rental-return assumption without consent and evidenced demand.

Strategy Rating

Analysis Confidence

The address, tenure, size, vacant possession, guide price and two completed sales are supplied, but there is no current valuation, rental evidence, condition report, EPC, planning position, cost budget, buyer fee or clear VAT treatment.