Commercial property letting agents Monk & Partners have secured a letting of units 5 and 6 Marjorie Court to Bearing Options Ltd. Located on the established and popular Saltash Parkway estate, the units were constructed in 2008 and comprise a terrace of 4 units suited ideally to smaller businesses.
Having been instructed by the private owners, following two previous tenants simultaneously vacating, the agents identified the new tenant who were looking to relocate from smaller premises elsewhere in the town.
The units had a floor area of circa 500 sq ft each with partial mezzanines above and a rental of £10,000 p.a.x. was sought.
A new lease of the pair of units was agreed for a term of 6 years.
John Slade of Monk & Partners stated ”these units have always proved popular to the smaller or start up business. Since their construction in 2008 we have been instructed to let them at different times and each time voids are short lived due in part to the quality of the units, the landlord being flexible on the lease term granted and also the added benefit that business rates are nil in the current regime. Furthermore the units are located adjacent to the A38 providing easy access to the rest of Cornwall and the Tamar crossing into Devon, Plymouth and beyond.”
Acting on behalf of ETE Ltd and private investors, Monk & Partners have secured 2 lettings of adjacent properties in Barbican Approach and Commercial Rd, Coxside, Plymouth to Enterprise Rent-A-Car.
Plymouth agents Monk & Partners were instructed by the leaseholders of 2 Barbican Approach to find a sub-tenant for the 270 sq m (2900 sq ft) industrial workshop premises and after a fairly long period of marketing and change of use process they secured Enterprise Rent-A-Car for the subject premises. Simultaneously Monk & Partners negotiated lease and rental terms with the same tenant on the adjacent property being circa 380 sq m (4100 sq ft) from different owners to create a joint letting of the two premises. The two properties were formerly occupied by a limousine rental company and Speedy Hire among other users over time. 2 new leases until circa 2030 have been agreed.
John Slade of Monk & Partners commented “ this was one of those unconventional and satisfying deals whereby one premises was insufficient for the acquiring tenants needs and following some investigative endeavours it turned out the adjacent property could also be leased alongside making the two properties large enough for the car rental firm’s needs.''
The properties are located fronting two main routes in Coxside making for a prominent and convenient location for the new tenant to relocate to following some extensive refurbishment and branding for their purposes.