Location:
The property is located on the established and popular Darklake View Estate at Estover, approximately four miles north east of Plymouth City Centre and within
easy reach of the A38 Devon Expressway.

Description:
The property comprises a newly built high-spec, industrial/warehouse unit with two storey offices. The walls are full height blockwork with profile steel sheet external cladding under a mono-pitched profile steel sheet roof covering. The windows are coated aluminium double glazed units and the roller shutter is electrically operated. The offices are comfort cooled, carpeted, decorated and with dado trunking around the perimeter. The building is alarmed.

Externally there is ample parking and loading areas.

Accommodation:
(All dimensions and areas are approximate)

Ground floor:
Warehouse/industrial 174.28 sqm (1,876 sq ft)
Offices (2) 58.11 sqm (626 sq ft)
Kitchen/U’stairs Store 11.99 sqm (129 sq ft)

First Floor:
Offices (4) 88 sqm (947 sq ft)

Total: 332.38 sqm (3,578 sq ft)

Services:
We understand mains electricity (three phase), water and drainage are connected to the property.

Rateable Value:
The rateable value is £28,500.

Tenure:
The property is held long leasehold for a term of 999 years from 24th March 2016 at a peppercorn rental under Title number DN682437.

A copy of the Title Register and Plan is available upon request.

Lease Terms:
The property is let to Healthcare at Home Ltd on a full repairing and insuring lease for a term of 10 years until 9th February 2028 at a current rental of £30,000 plus VAT per annum exclusive. There is a rent review and tenant only break in February 2023.

Covenant:
Healthcare at Home Ltd incorporated in 1992 is a private limited company and understood to be the UK’s leading full service, clinical provider of healthcare out of hospital.

Healthcare at Home provide healthcare services and provisions of pharmaceuticals and associated support to patients receiving treatment at home and in the community.

Now known as Sciensus.

Proposal:
A purchase price in the sum of £425,000 plus VAT is sought for the long leasehold interest of the property which represents a Net Initial Yield of 6.77% after purchase costs.

EPC:
The property has an Energy Performance rating of C75.

VAT:
VAT will be chargeable on the purchase price of the property.

Legal Costs:
Each party are to bear their own legal costs incurred in the transaction.

Other:
Under the Money Laundering Regulations 2017, Monk & Partners will require any purchaser to provide proof of identity along with any other associated documents prior to
exchange of contracts.

Viewing and Further Information:
Strictly by prior appointment through sole agents:-
Monk & Partners
4 The Crescent
Plymouth
Devon
PL1 3AB
John H Slade, BSc MRICS
Tel: 01752 255222
Mobile: 07770 653516
E-mail: johns@monkandpartners.co.uk