Property photos
Freehold
Offers over
£220,000
(£46.18/sq. ft)
Retail premises for sale
Fore Street, Ivybridge PL214,764 sq. ft
Local area information
Property location
Nearby amenities
- The Erme Primary School 0.2 miles
- Manor Primary School, Ivybridge 0.2 miles
- Ivybridge 0.8 miles
- Cockleridge Ham Ferry Landing 7.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
Key Points
Currently let as a whole Potential for future repurposing 7.3% initial yield on passing rent
Description
A large mid terrace retail unit over two floors. The original property has been merged and extended over the years. The current tenant trades over ground and first floor with ancillary storage and office accommodation on the first floor.
The unit occupies a prominent position within the main retail parade on Fore Street.
Location
Ivybridge is a popular town in Devon, situated on the southern boundary of Dartmoor National Park, with a population of some 12,500 people. It is located 9 miles east of Plymouth and directly accessed off the A38 Devon Expressway, which provides good links to the A30 and M5 Motorway network in Exeter.
The property is prominently situated on Fore Street opposite to the entrance of Glanville’s Shopping Centre and nearby occupiers include Co-operative Food, Lloyds Bank and other small to medium sized retailers and operators.
Investment Summary
Retail investment let as a whole to F.T.B. Lawson Limited on a 5 year lease from 11 April 2021 at a rent of £16,500 pa.
Substantial Property offering potential for future repurposing, subject to necessary consents.
Full Repairing Lease, subject to Schedule of Condition
Reversionary Rent
7.3% initial yield on passing rent and 8% on reversion allowing for purchaser’s costs of 2.4%
Low capital value of £46 per sq ft
Description
A large mid terrace retail unit over two floors. The original property has been merged and extended over the years. The current tenant trades over ground and first floor with ancillary storage and office accommodation on the first floor.
The unit occupies a prominent position within the main retail parade on Fore Street.
Location
Ivybridge is a popular town in Devon, situated on the southern boundary of Dartmoor National Park, with a population of some 12,500 people. It is located 9 miles east of Plymouth and directly accessed off the A38 Devon Expressway, which provides good links to the A30 and M5 Motorway network in Exeter.
The property is prominently situated on Fore Street opposite to the entrance of Glanville’s Shopping Centre and nearby occupiers include Co-operative Food, Lloyds Bank and other small to medium sized retailers and operators.
Investment Summary
Retail investment let as a whole to F.T.B. Lawson Limited on a 5 year lease from 11 April 2021 at a rent of £16,500 pa.
Substantial Property offering potential for future repurposing, subject to necessary consents.
Full Repairing Lease, subject to Schedule of Condition
Reversionary Rent
7.3% initial yield on passing rent and 8% on reversion allowing for purchaser’s costs of 2.4%
Low capital value of £46 per sq ft
More information
Listed by
Sanderson Weatherall
View agent properties.png){kind=logo}
Property descriptions and related information displayed on this page are marketing materials provided by - Sanderson Weatherall. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Sanderson Weatherall for full details and further information.