For Sale
UNDER OFFER
Properties
Ivybridge, 54 Fore Street AND 1-6 Chapel Place, Ivybridge
Type
Investment, Other, Retail
Price
£375,000
Business Rates
£9,605.75 per annum
Size
145 - 314 SQM
Assets
Key Selling Points
- New 10 year term from September 2026 to existing Tenant of the shop on Full repairing and Insuring terms
- Butchers with large warehouse and preparation area to rear plus parcel of land
- Vacant possession of 2 bedroomed first floor flat
- Gross rental income of £27,300 (£19,500 shop / £7,800 flat)
- Sale of whole at £375,000
Investment - Retail with Flat above plus parcel of Land to rear of premises.
Occupying an excellent trading position on Fore Street, Ivybridge is this mixed use retail/residential premises.
The unit comprises of a retail area trading as a butchers with counter, preparation area and warehouse to the rear. The warehouse area is served by twin doors and vehicular access over a shared driveway to the east elevation.
The Demised premises are described in the existing lease date 12 November 2019 between P & J Bryant Limited and FTB Lawson Limited as assigned to Richard and Melanie Pollard. A new 10 year lease will commence on the 15th September 2026, immediately after thee expiry of the existing lease. The new lease shall incorporate a tenant only break on the fifth year of term and an upward only rent review at the end of the fifth year of the term.
The first flat comprises two bedrooms, lounge, kitchen and bathroom. This is let on the basis of an Assured Shorthold Tenancy at £650 pcm.
In addition to the premises we have been instructed to dispose of a parcel of land at the rear property of approximately 0.07 acre in size.
The unit comprises of a retail area trading as a butchers with counter, preparation area and warehouse to the rear. The warehouse area is served by twin doors and vehicular access over a shared driveway to the east elevation.
The Demised premises are described in the existing lease date 12 November 2019 between P & J Bryant Limited and FTB Lawson Limited as assigned to Richard and Melanie Pollard. A new 10 year lease will commence on the 15th September 2026, immediately after thee expiry of the existing lease. The new lease shall incorporate a tenant only break on the fifth year of term and an upward only rent review at the end of the fifth year of the term.
The first flat comprises two bedrooms, lounge, kitchen and bathroom. This is let on the basis of an Assured Shorthold Tenancy at £650 pcm.
In addition to the premises we have been instructed to dispose of a parcel of land at the rear property of approximately 0.07 acre in size.
Location
Ivybridge is a popular town in Devon, situated on the southern boundary of Dartmoor National Park. The property is prominently situated on Fore Street opposite to the entrance of Glanville’s Shopping Centre and nearby occupiers include Co-operative Food, Lloyds Bank and other small to medium sized retailers and operators.
Ivybridge is a small town of 12,500 people located 9 miles east of Plymouth. It is linked to the A38 Devon Expressway, which provides good access to the A30 and M5 Motorway network in Exeter.
Ivybridge is a small town of 12,500 people located 9 miles east of Plymouth. It is linked to the A38 Devon Expressway, which provides good access to the A30 and M5 Motorway network in Exeter.
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