Unit 8, Stable Hobba Industrial Estate, Stable Hobba, Newlyn, Penzance, Cornwall, TR20 8TL

Description

An opportunity to acquire a deceptively spacious industrial unit situated on a busy site with its most recent use being for food/fish production and processing. The property is fitted out for this type of production including three-phase power and solar panel electricity generation, although could easily be adapted for other types of use, subject to all necessary consents being obtainable.

Accommodation

Reception/office, staff room with kitchenette, two large preparation/processing rooms with loading bays, ladies and gents W.C.s, store room along with a further cabin office and workshop with electric roller door both being accessed externally.

Location

Situated at Stable Hobba Industrial Estate, Stable Hobba, Newlyn, Penzance, Cornwall, on a busy site.

Tenure / Property Information

Investment Analysis

The £100,000 guide is supported by a same-estate leasehold sale at £100,000 in December 2018. A second same-estate sale at £197,000 in April 2016 indicates material variability, but no floor area, specification, condition or transaction context is supplied, so a current GDV cannot be established reliably. The unit has a leasehold interest with approximately 81 years remaining from October 2026 and is vacant. The £884–£1,430 pcm rental evidence is advertised asking rent for units in the area, not achieved rent specifically for this property.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or resale assumptions alone. Treat as a potential owner-occupier or commercial investment opportunity only after confirming floor area, lease terms, service charge, permitted use, condition, solar arrangements, achievable rent and all buyer fees.

Works Required

No specific defects or mandatory works are evidenced. Retain or assess the existing food/fish-production fit-out, three-phase power and solar installation; verify condition, services, operational suitability and whether any change of use or adaptation consents are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be completed because current GDV, refurbishment costs, total acquisition costs, leasehold charges and lender valuation criteria are not supplied. The leasehold term and commercial use would also require lender and legal due diligence before relying on refinancing.

Buy-to-Let Analysis

Using the two advertised local rents as an unverified range, annualised gross rent would be approximately £10,608–£17,160. Against the £100,000 guide alone, this equates to an indicative 10.61%–17.16% gross yield, before leasehold costs, voids, management, repairs, finance and unknown buyer fees. These are asking rents rather than achieved rent for the unit, so a reliable BTL yield cannot be established.

Flip Analysis

A flip appraisal cannot be completed reliably. Although same-estate sales of £100,000 and £197,000 are available, their differing dates and lack of size, specification and condition data prevent a supported current GDV. Works, selling costs and all acquisition costs are also unavailable.

Investor Risks & Due Diligence

• Leasehold ownership with approximately 81 years remaining and no supplied details of ground rent, service charge, restrictions or assignment provisions.

• The £884–£1,430 pcm figures are advertised asking rents and may not be achievable for this unit.

• Same-estate sold prices vary materially and lack floor-area, specification and condition detail.

• Potential adaptation or change of use may require consents, which are not confirmed.

• Administration fees, other non-optional costs, VAT, Stamp Duty and Land Registry fees are not quantified.

• Condition and compliance of the food/fish-production fit-out, three-phase power and solar installation are not independently evidenced.

Recommendation

Do not bid on yield or resale assumptions alone. Treat as a potential owner-occupier or commercial investment opportunity only after confirming floor area, lease terms, service charge, permitted use, condition, solar arrangements, achievable rent and all buyer fees.

Strategy Rating

Analysis Confidence

The property description, lease structure, guide, two same-estate sales and two local asking rents are supplied, but floor area, current valuation, achieved rent, works budget, service charges, buyer fees, planning details and selling costs are missing.