It has been a busy period for Monk and Partners commercial property agency where we have successfully negotiated the acquisition of the former Harley Davidson and Triumph motorcycle premises at Langage Business Park, Plympton on behalf of our long established private investor clients, Certini Properties Ltd. The premises were placed on the open market for sale freehold by the administrators following their closure earlier this year through Bristol property agents Lambert Smith Hampton.
Certini Properties purchased the premises for investment purposes being advised by Monk & Partners who have subsequently also re-let the two buildings to provide an income stream.
The buildings comprise two fully glazed high spec showrooms with workshops within together with a mezzanine in one, providing about 1208 sq m (13000 sq ft) of floorspace along with a substantial parking provision all on a very prominent site.
Macpherson Motorcycles are the new occupiers of the premises and are now busily rebranding them to relocate from their existing locations in The Barbican and Cattedown areas of Plymouth having signed up to a new 10 year lease.
Principally selling Italian brands including Moto Guzzi, MV Augusta, and Aprilia, the dealership will also be offering Norton and the electric powered Livewire motorbikes along with another brand yet to be announced and all brands will be housed and available within these two units.
Having been unsuccessful in acquiring the former Mini premises at Billacombe Road, Plymstock from us 12 months or so ago, John Slade of Monk & Partners said “being aware of Macpherson’s requirement for premises, when the opportunity to let the subject premises at Langage came up the obvious piece for the puzzle was to proactively offer them to Macpherson off market.
The fact the premises were previously used for the sale of Motorcycles (and prior, Jaguar Cars) meant there was no need to get a change of use and following discussions on lease and rental terms the matter was swiftly passed to the respective parties solicitors to tie up the transaction.
It was great to have been involved in structuring such exciting property transactions from identifying the property, acquiring it and subsequently re-letting to a high profile use all within a period of less than 4 months”.
Langage has become one of Plymouth’s principal locations for motor vehicle sales with Audi, Toyota and most recently Polestar already on an adjacent site. The subject premises are now in the process of being rebranded and are due to re-open to the public at the end of August.