Helston Unit 3, 37-39 Meneage Street, Helston, Cornwall, TR13 8RB

Description

Town centre freehold shop with total accommodation of approximately 246.25 sq m (2,651 sq ft), including upper floors with residential conversion potential subject to consents. Nearby occupiers include Boots Pharmacy, Superdrug and Specsavers. VAT is not applicable.

Accommodation

Total accommodation of approximately 246.25 sq m (2,651 sq ft), including a vacant basement and second floor.

Location

Helston is a popular market town on the Lizard peninsula, approximately midway between Falmouth and Penzance. The town is situated at the junction of the A394 and A3083 and serves the surrounding rural area. The property is in the centre of town on the west side of Meneage Street, close to its junction with the Parade. Nearby occupiers include Boots Pharmacy, Specsavers, Superdrug, WH Smith and Costa Coffee.

Tenure / Property Information

Investment Analysis

The guide of £75,000 is close to the lowest supplied Meneage Street comparable (£72,000) and below other supplied sales of £103,000, £125,000, £165,000 and £166,000. However, the comparables are not sufficiently detailed or directly comparable to support a reliable GDV or market value: the subject is a 2,651 sq ft freehold shop, is partly vacant, and the majority tenant is terminating its tenancy at will. The upper-floor residential potential is expressly subject to consents. No formal valuation, passing rent, EPC, condition report, conversion cost or buyer/admin fee is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after legal review of the tenancy termination, a full building and services survey, confirmation of vacant possession, and planning/use-consent advice. Without those checks, the property is better treated as a speculative commercial value opportunity rather than an underwritten income or conversion project.

Works Required

No specific physical defects or refurbishment requirements are supplied. Before bidding, assess the vacant basement and second floor, confirm the condition of the shop and services, and investigate the feasibility and costs of any residential conversion, subject to the necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably underwritten from the supplied evidence. The existing occupier is leaving, two areas are vacant, no refurbishment budget or reliable rent is provided, and the residential conversion potential is subject to consents. Refinance at a percentage of GDV cannot be calculated without a supported GDV.

Buy-to-Let Analysis

This is a commercial property rather than a supported residential BTL opportunity. British Heart Foundation occupies the majority under a tenancy at will but has served notice to leave. The £792 pcm figure is an advertised commercial asking rent in Helston, not identified as the subject property's achievable or passing rent, so a property-specific yield cannot be established.

Flip Analysis

A flip appraisal cannot be quantified. Although nearby completed sales provide broad local context, there is no supported adjusted GDV, refurbishment allowance, resale cost allowance or confirmation that residential conversion is achievable.

Investor Risks & Due Diligence

• British Heart Foundation has served notice to terminate its tenancy at will, creating significant income and reletting risk.

• The basement and second floor are vacant.

• Any residential conversion of the upper floors is subject to consents and is not confirmed as achievable.

• No property-specific rent, refurbishment cost, EPC or building-condition evidence is supplied.

• Additional seller or third-party charges may apply, but their amounts are not provided.

Recommendation

Proceed only after legal review of the tenancy termination, a full building and services survey, confirmation of vacant possession, and planning/use-consent advice. Without those checks, the property is better treated as a speculative commercial value opportunity rather than an underwritten income or conversion project.

Strategy Rating

Analysis Confidence

There are several completed local sales and a clear guide price, but no directly comparable valuation, subject-property rent, condition information, EPC, refurbishment costs, conversion consent, or buyer/admin fee data.