42 Clinton Rd - Hospitality FOR SALE


Redruth, CON TR15 2QE
$699,999 USD
42 Clinton Rd, Redruth, CON for Sale
$699,999 USD
Hospitality - FOR SALE
1/3
null | 15.71% Cap Rate

42 Clinton Rd
Redruth, CON TR15 2QE


HIGHLIGHTS

  • Prominent trading location on Clinton Road, one of Redruth’s most favoured addresses
  • Well positioned for access to the A30 trunk road and has a railway station on the Penzance to London Paddington line
  • Trading location in a major West Cornwall town

OVERVIEW

Offered freehold with a guide price of £699,999. The Lansdowne is available for sale due to our clients other business interests. As our clients live off site this quality leisure business is management run by a manager and two part time cleaning staff. The tariff for the guest accommodation ranges from £50, £95 and up to £170 for the single, ensuite double and family suite respectively. The two self-contained apartments are let on AST’s generating £750 pcm and £550 pcm for the 2 bedroom and 1 bedroom respectively. The trading profit and loss accounts for year ending 31st March 2023 showed a turnover of approx. £110,000, producing an adjusted net profit in excess of £40,000 before deducting depreciation, loan interest, motor expenses, directors loan and ‘one expenditure’. Obviously, as discussed, more ‘hands on’ proprietors would be able to reduce operating expenses, in particular wages and increase profitability.

FOR SALE DETAILS

PRICE

$699,999 USD

PRICE/SF

$191 USD /SF

# OF ROOMS

9

PRICE/ROOM

$77,778 {currency}

CAP RATE

15.71%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lansdowne Guest House

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,910 SF

ZONING

-

APN/PARCEL ID

CL183716,CL378168

ASK ABOUT THIS PROPERTY

Russell WeetchScott Burridge Commercial LLPMore Info

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Russell WeetchScott Burridge Commercial LLPMore Info

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