Padstow seems to be immune to the current economic downturn with Vickery Holman reporting the sale of a small part of one of Cornwall’s most fashionable fishing port.
The property fronts South Quay overlooking the harbour, which is the main link from the Riverside area, which contains the main public car park, the end of the Camel Trail and Rick Stein’s restaurant through to the main town and is in a prime location to catch the majority of Summer trade.
The shop extends to 390sq.ft. and has been sold on a 999 year lease reflecting a net initial yield allowing for normal purchasers costs of 6.15%.
Mike Oldrieve, Head of Investment at Vickery Holman comments: ‘Padstow like a lot of the coastal towns is still very attractive to local and regional investors, this one selling off-market. Towns such as this tend to attract cash buyers and if they had a residential element as well, all the better. We would be very interested in knowing of any similar opportunities.’
