Mixed retail & residential investment premises

Ref : M3376

Price

Freehold : Offers in the Region of :: £475,000.00

Unless otherwise stated all rental figures and asking prices quoted in the above details are exclusive of any Value Added Tax that might be applicable.

  • Mixed retail and residential investment premises.
  • Prime main road site in sought after commercial and residential area.
  • Substantial period property comprising two self-contained retail shop/office units, one 2 bedroom self-contained flat, one 1 bedroom self- contained flat and separate self-contained archive storage facility. Fully let generating approx. £39,400 per annum (approx. 8% return).
  • Available as a whole or separately.
  • Viewing recommended.

This substantial freehold investment property enjoys an enviable main road trading position, adjacent to one of the main arterial routes leading into Plymouth city centre.  It is prominently located at the junction of Mannamead Road with College Avenue at the northern end of Mutley Plain.  Mutley Plain itself is an extremely popular secondary shopping parade and has numerous retailers represented within it, including Tesco’s, Sainsbury’s, Co-op, Costa Coffee, Boots, Wetherspoons, Kentucky Fried Chicken, etc.  It addition, there are a varied selection of other retail concerns represented nearby, as are numerous office premises, housing professional concerns such as estate agents, surveyors, mortgage brokers, solicitors, etc.  Indeed, the said property is located in a well known terrace which is known locally as “estate agents parade”. 

Plymouth, with a population of over 250,000 is the largest city in the West Country.  Largely rebuilt since World War II it is now a thriving industrial and commercial centre and is still one of the Royal Navy's principal base and warship repair dockyards.  The city has excellent educational, recreational and entertainment facilities and access to the rest of the country is gained by road via the A38/M5 motorway and by rail.  Europe is also accessible by the car/passenger ferry which is operated from its terminal at Millbay Docks. 

The premises are end of terrace and appear to be of traditional construction with rendered and painted elevations under a pitched slate roof.  The unit briefly comprises two ground floor lock-up shops/retail units, along with one 2 bedroom self-contained flat and one 1 bedroom self-contained flat to the first floor.  In addition, there is a large lower ground floor archive storage facility, which is completely self-contained and accessed via the rear of the property.  Our client will consider splitting the properties and selling them separately. An early viewing appointment is strongly recommended to fully appreciate the location and appeal of this impressive investment property.  

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Office Address

Huntley & Partners
Spargo House
10 Budshead Way
Plymouth
Devon
PL6 5FE

Telephone

01752 206020

(24hr answering service)