Freehold Builders Merchant and Motor Trade Investment with Development Potential (1)
Warehouse, Office and Motor Trade Units of 14,599 sq ft
Majority let to SIG Trading Limited
Site area of 0.77 Acres
1 mile from Plymouth City Centre and 1.5 miles from Plymouth Rail Station close to Mayflower Marina
Neighbouring occupiers include Jewson, Malvern Tyres and a number of local traders
VAT-free Investment
Lot 23
Auction 23rd September 2020
Rent £63,220 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1 mile from Plymouth City Centre
7 miles south-west of Dartmoor National Park
40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
The property is prominently located just 1 mile from Plymouth City Centre and approximately 1.5 miles from Plymouth Train station in a mixed trade and residential area adjacent to Mayflower Marina. The property is situated on Richmond Walk close to its junction with the A374 Devonport Hill/Stonehouse Bridge. Nearby occupiers include Jewson, Malvern Tyres and a number of local traders.
Tenure
Freehold.
Location
Miles
1 mile from Plymouth City Centre
7 miles south-west of Dartmoor National Park
40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
The property is prominently located just 1 mile from Plymouth City Centre and approximately 1.5 miles from Plymouth Train station in a mixed trade and residential area adjacent to Mayflower Marina. The property is situated on Richmond Walk close to its junction with the A374 Devonport Hill/Stonehouse Bridge. Nearby occupiers include Jewson, Malvern Tyres and a number of local traders.
Tenure
Freehold.
Description
The property comprises two ground floor warehouse units and an office building over ground and first floors. A shared yard and entrance to Richmond Walk. The total site area is 0.77 Acres
VAT
VAT is not applicable to this lot.
Planning
(1) The site may benefit from future redevelopment to residential use, subject to all necessary consents/permissions and current tenancies Interested Parties are referred to Plymouth Borough Council (www.plymouth.gov.uk)
Completion Period
Six Week Completion
EPC
See legal Pack.
Description
The property comprises two ground floor warehouse units and an office building over ground and first floors. A shared yard and entrance to Richmond Walk. The total site area is 0.77 Acres
VAT
VAT is not applicable to this lot.
Planning
(1) The site may benefit from future redevelopment to residential use, subject to all necessary consents/permissions and current tenancies Interested Parties are referred to Plymouth Borough Council (www.plymouth.gov.uk)
Completion Period
Six Week Completion
EPC
See legal Pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First Ground
Office Office Warehouse
91.76 sq m 94.72 sq m 833.13 sq m
(987 sq ft) (1,019 sq ft) (8,968 sq ft)
SIG TRADING LIMITED (2)
12 years from 23/12/2010 expiring 22/12/2022
£49,220
(22/12/2022)
Ground
Motor Trade
336.60 sq m
(3,623 sq ft)
WEST HOE GARAGE LIMITED
10 years from 01/07/2016 expiring 30/06/2026 (3)
30/06/2026 (3)£14,000
1/07/2021(30/06/2026)(3)
Total
1,356 sq m
(14,599 sq ft)
£63,220
(2) For the year ending 31st December 2018, SIG Trading Limited reported a turnover of 1,112,000,000, a pre-tax profit of 2,000,000 and shareholder funds of 260,000,000 (Source: SmartSearch 05/08/2020). SIG trades from 425 trading sites across the UK and Ireland and Mainland Europe. (Source: www.sigplc.com) (3) The lease provides for a mutual option to determine on 22/12/2022 upon 6 months notice.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Machins Solicitors LLP Victoria Street Luton Bedfordshire LU1 2 BS
