Commercial property for sale in Plymouth, England

DescriptionThe property consists of the former Old Fish Market, which has been subdivided and refurbished to create three restaurant/retail units. The property is being sold as a freehold investment. The property dates back to the 1800s, preserving its original steel frame, now complemented by full-height glazing, and underwent a roof renovation in 2022. Adjacent to the building it is a restaurant housed in a former glass-blowing factory. Location20 The Barbican is situated in the southwest corner of Sutton Harbour, facing West Quay and Guys Quay. It can be accessed via Southside Street from Vauxhall Street (B3240) to the north. Sutton Harbour is Plymouth’s historic waterfront destination and features modern offices and a diverse range of restaurants, cafes, bars and shops. Plymouth Hoe is located approximately 500 metres from the property, positioned on the historic Barbican boasting waterside views, near the Mayflower Steps. Plymouth, a coastal 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. Plymouth railway station offers regular services to London Paddington, Exeter, and other major cities. Planning PermissionsThe property is in a Conservation Area and is Listed, Grade II. We are not aware of any recent planning applications in relation to the property. TenureUnit 1 of the Old Fish Market has been leased to The Cornish Bakery Shops Limited for 15 years starting from December 13 2022, at an annual rent of £46,000. Unit 2 has been leased to Pavers Limited on a new 10-year lease from January 15, 2023, at an annual rent of £57,050. Unit 3 is leased to Loungers UK Ltd for 15 years starting from March 29, 2023, at an annual rent of £66,500. All three leases include upward-only rent reviews every five years and are on effectively full repairing and insuring (FRI) terms. Loungers have also been granted a licence for external seating along the northern and western sides of their unit for the duration of the lease. The Cornish Bakery also has external seating. Business RatesThe current rateable value effective from 1 April 2023 are £90,000. The tenant is responsible for any rates payable. Energy Performance Certificates EPC 1

Commercial property for sale in Plymouth, England

Leisure facility for sale

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