Property photos
Auction
From
£1,250,000
19 bed block of flats for sale
Bounds Place, Millbay Road, Plymouth PL119 beds
Local area information
Property location
Nearby amenities
- Plymouth School of Creative Arts 0.1 miles
- High Street Primary Academy 0.2 miles
- Plymouth Ferry Terminal 0.3 miles
- Plymouth Stonehouse Ferry Terminal 0.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Plymouth to find out more about the local area.
Features and description
- Institutional Grade Residential Investment
- Block of 11 Flats
- Management Agreement with South Devon Rural Housing Association (D&B - 2A3)
- Agreement Expires 01/05/2038 - Circa 15 Years Unexpired
- Passing Guaranteed Rent - £84,559 per annum
- Annual Index Linked Rent Reviews (cpi +1%)
- Development Completed in 2018
- Large Rear Car Park
- Established Residential Location
Strapline
Auction Sale - 18/07/2023
Residential Block With Management Agreement to a Housing Association Producing Guaranteed Rent of £84,559 per annum
15 Years Unexpired with Index Linked Rent Reviews
Established Residential Location Near Plymouth Marina
Description
The property comprises a block of 11 flats set within a former school building. The conversion was completed in 2018 and consists of 3x one bedroom flats and 8x two bedroom flats. The property sits on a site of approximately 0.28 acres and includes a large car park to the rear accessed from East Street (11 spaces).
Internally, the property provides accommodation over ground, first and second floors with several units providing split level accommodation across first and second floors.
Please see the below schedule of accommodation for unit areas.
Location
The property is situated witha frontage to George Place, a quiet street to the west of Plymouth City Centre with a mix of residential and commercial use. The property also enjoy access from East Street, which provides access to the rear car park.
The property is approximately 0.2 miles north of King Point Marina and 0.5 miles west of the amenities of Central Plymouth.
Tenancy
The property is managed by South Devon Rural Housing Association (sdrha) under a management agreement expiring 01/05/2038 (approximately 15 years unexpired) providing a guaranteed rent to the Landlord of £84,559 per annum. The agreement provides for annual index linked rent reviews in line with the Consumer Price Index (cpi) plus 1%. Please consult the legal pack for more information.
Sdrha represent a strong covenant with a Dunn & Bradstreet rating of 2A3. They operate in excess of 350 units across Devon and Cornwall.
Auction Sale - 18/07/2023
Residential Block With Management Agreement to a Housing Association Producing Guaranteed Rent of £84,559 per annum
15 Years Unexpired with Index Linked Rent Reviews
Established Residential Location Near Plymouth Marina
Description
The property comprises a block of 11 flats set within a former school building. The conversion was completed in 2018 and consists of 3x one bedroom flats and 8x two bedroom flats. The property sits on a site of approximately 0.28 acres and includes a large car park to the rear accessed from East Street (11 spaces).
Internally, the property provides accommodation over ground, first and second floors with several units providing split level accommodation across first and second floors.
Please see the below schedule of accommodation for unit areas.
Location
The property is situated witha frontage to George Place, a quiet street to the west of Plymouth City Centre with a mix of residential and commercial use. The property also enjoy access from East Street, which provides access to the rear car park.
The property is approximately 0.2 miles north of King Point Marina and 0.5 miles west of the amenities of Central Plymouth.
Tenancy
The property is managed by South Devon Rural Housing Association (sdrha) under a management agreement expiring 01/05/2038 (approximately 15 years unexpired) providing a guaranteed rent to the Landlord of £84,559 per annum. The agreement provides for annual index linked rent reviews in line with the Consumer Price Index (cpi) plus 1%. Please consult the legal pack for more information.
Sdrha represent a strong covenant with a Dunn & Bradstreet rating of 2A3. They operate in excess of 350 units across Devon and Cornwall.
Floor plans and tours
Floor plans
No floor plan available
Tours
No virtual tour available
More information
Listed by
Savills - National Auctions
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