Unit 5, 100-104 Pydar Street, Truro, TR1 2BD

Description

The property comprises a high yielding retail investment occupying a corner pitch on a prime pedestrianised street. It is arranged as a ground floor retail unit and associated upper parts, fully let to Sharps Bedrooms Limited on a five-year lease expiring 26.02.2027 and paying £40,000 per annum. The property occupies a prime corner pitch fronting the pedestrianised Pydar Street, one of the principal retail streets in the heart of Truro.

Accommodation

Ground floor retail unit and associated upper parts; 2,332 sq ft (216.64 sq m)

Location

Prime corner pitch fronting pedestrianised Pydar Street, one of the principal retail streets in the heart of Truro. The street is characterised by national retailers including Boots, TK Maxx, New Look and Pandora.

Tenure / Property Information

Investment Analysis

The £250,000 guide equates to a 16.0% gross yield on the stated £40,000 annual passing rent. The supplied Pydar Street sales are materially different properties and provide no usable size, income or valuation basis for this unit, so a supported GDV cannot be established. The investment is fully let, but the lease expires on 26 February 2027, making renewal or re-letting terms important to value.

Investment Snapshot

Strategy Recommendation

Income-led commercial investment, subject to satisfactory lease, tenant covenant and renewal/re-letting due diligence. Do not rely on a flip or refinance value without further valuation evidence.

Works Required

No refurbishment works are specified in the evidence. The key work is legal, lease and tenant due diligence, including assessment of the approaching lease expiry and renewal or re-letting prospects.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget, purchaser costs or refinance terms are provided. The current rent supports an attractive headline guide yield, but the approaching lease expiry creates refinance and income-visibility risk.

Buy-to-Let Analysis

The property is already let to Sharps Bedrooms Limited at £40,000 per annum, equivalent to £3,333.33 pcm. Against the £250,000 guide, the gross yield is 16.0%. Net yield cannot be calculated because operating costs, purchaser costs and finance costs are not supplied. Income continuity beyond 26 February 2027 is uncertain from the evidence.

Flip Analysis

A flip appraisal cannot be supported because no GDV, refurbishment costs, selling costs or comparable evidence sufficiently specific to this unit is available. The supplied Pydar Street transactions are not usable as direct comparables on the evidence provided.

Investor Risks & Due Diligence

• The lease expires on 26 February 2027, creating renewal, re-letting and income-continuity risk.

• The property is fully dependent on the stated tenant, Sharps Bedrooms Limited, for rental income.

• No sufficiently specific external rental comparable has been identified.

• Buyer premium, administration charge and other acquisition costs are not supplied.

• The supplied sold comparables lack sufficient size, income and property detail to support a reliable valuation of this unit.

Recommendation

Income-led commercial investment, subject to satisfactory lease, tenant covenant and renewal/re-letting due diligence. Do not rely on a flip or refinance value without further valuation evidence.

Strategy Rating

Analysis Confidence

Passing rent, occupancy, tenure, lease term, accommodation and guide price are supplied, but there is no usable unit-specific valuation evidence, cost schedule, fee information or net operating cost data.