Commercial property for sale in Plymouth, England

DescriptionThe property features a spacious ground floor unit, previously used as a gym, along with two cafés held on a long lease. Built in the 1990s, this development includes residential apartments on the upper floors. The former gym boasts extensive frontage on Exeter Street, while one café faces Bretonside and the other is situated between the two, accessible via North Street. The asset does not include car parking. LocationThe property is located between the A374 Exeter Street and Bretonside, just north of Sutton Harbour. Exeter Street serves as a main route into the city centre, connecting with the A38 Devon Expressway, while Bretonside offers access to the Sutton Harbour area. The surrounding area features a diverse mix of residential, retail, leisure, and hotel properties. Plymouth, acoastal city in Devon, is well-connected by various transport routes. The city is accessible via the A38 dual carriageway, which links to the M5 motorway, providing direct routes to Exeter, Bristol, and beyond. Planning PermissionsThe property is not located in a Conservation Area and is not listed. We are not aware of any recent planning applications in relation to the property. TenureThe property is held on a 155-year lease from 1 September 2005 at a fixed peppercorn (136 years unexpired). The property is leased to two tenants under separate effectively full repairing and insuring leases. The current annual income is £19,500, with scheduled rental increases in both leases. The former gym unit is currently vacant but offers a wide variety of alternative uses and could perhaps be subdivided into smaller units. When occupied this unit achieved a rental income of in excess of £60,000 per annum. Business RatesThe current rateable value effective from 1April 2023 are £89,000. The tenant is responsible for any rates payable. Energy Performance Certificates EPC 1

Commercial property for sale in Plymouth, England

Commercial property for sale

Description

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