Fountain House, 1 Eastbourne Road, St. Austell, Cornwall

Description

An opportunity to acquire a substantial two storey commercial property situated within the heart of the Cornish town of St. Austell, occupying a highly convenient location with a wide range of amenities within close proximity. The property extends over two floors and enjoys a good sized rear garden. Potential bidders may seek change of use to a residential dwelling or envisage a number of apartments, subject to necessary consents being obtainable.

Accommodation

Ground Floor: Kitchen, three rooms and two W.C.s. First Floor: Kitchen, six rooms, bathroom with W.C. and additional W.C. Outside: A good sized enclosed outside area to the rear, accessed from the ground and first floors. Total floor area: 292 sq.m.

Location

Situated within the heart of the Cornish town of St. Austell, with a wide range of amenities within close proximity.

Tenure / Property Information

Investment Analysis

The £60,000+ guide is the only current pricing evidence. The supplied sold comparables are detached residential properties on Eastbourne Road and are not sufficiently comparable to this 292 sq.m vacant commercial building or a potential conversion. The property’s residential or apartment potential is expressly subject to obtaining the necessary consents, so no evidence-supported GDV or maximum bid can be established.

Investment Snapshot

Strategy Recommendation

Proceed only as a specialist commercial-to-residential or commercial conversion opportunity after planning, building-survey, measured-cost and exit-value due diligence. Do not rely on the guide price alone to set a bid.

Works Required

Any conversion or refurbishment scope requires further investigation. Potential works may include obtaining planning/change-of-use consent, designing the proposed layout, and carrying out the works required by the approved scheme. The supplied evidence does not establish specific defects, services requirements or construction costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified. The purchase guide is £60,000+, but refurbishment costs, post-consent GDV, rent and refinance value are unsupported. Planning, building condition and conversion feasibility would need to be established before relying on a refinance strategy.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental comparable or auctioneer rent estimate is provided, and the property is commercial with any residential use subject to necessary consents. No supported rent or yield can therefore be calculated.

Flip Analysis

A flip appraisal cannot be quantified. The nearby sold evidence relates to detached residential properties rather than this commercial building, while any residential conversion is subject to consent. No supported GDV, works allowance, selling allowance or surplus can be calculated.

Investor Risks & Due Diligence

• Residential or apartment conversion is subject to obtaining the necessary consents.

• No sufficiently specific rental evidence or auctioneer rent estimate is provided.

• The supplied sold comparables are detached residential properties and may not reflect this commercial property’s value.

• Refurbishment and conversion costs cannot be supported from the evidence supplied.

• Buyer administration, other non-optional fees, possible VAT, Stamp Duty, Land Registry fees and other completion costs are not quantified.

• The property has EPC rating E (105).

Recommendation

Proceed only as a specialist commercial-to-residential or commercial conversion opportunity after planning, building-survey, measured-cost and exit-value due diligence. Do not rely on the guide price alone to set a bid.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, commercial use, floor area, guide price and general accommodation, but provides no planning position, condition survey, conversion costs, rental evidence, commercial valuation or relevant comparable sales.