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A0871 - Retail Investment

Vision, Zone E, Chapel Street, Devonport, Plymouth, PL1 4GH & PL1 4DU

 Description

• Fully let retail investment • Freehold • Prominent location • Currently producing £45,500 p.a.x. rising to £52,500 p.a.x. • Net initial yield 8.69% to 10.03%

The units are located in a prominent location fronting both Chapel Street and Phelps Road in the suburb of Devonport and fronting the main western arterial route out of Plymouth towards Cornwall.

The location serves a substantial residential population of established and new housing forming part of the new Vision Development by Redrow Homes (7.3 ha mixed use) as well as other adjacent residential developments including Mount Wise (28 acres mixed use) and Oceansgate (35 ha commercial development) transforming Devonport.

Vision, Zone E, comprises five modern ground floor retail/office units. To the rear of the building there is access for servicing and car parking. Each commercial unit benefits from one parking space. To the front of the building there are 10 visitor parking spaces for commercial occupiers.

The two upper floors have been converted into residential accommodation and have been sold off on one single head lease.

The premises are available for sale freehold subject to the existing tenancies. Offers are invited in excess of £500,000 reflecting an initial yield of 8.69% rising to 10.03%

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