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Ocean Quay, Richmond Walk, Plymouth, Devon

For sale: £1,500,000.00|150 - 3,077 Sq M|Warehouse, Other, Industrial, Other Property Types & Opportunities

Property details

FOR SALE£1,500,000.00
SIZE150 - 3,077 Sq M
ADDRESSOcean Quay, Richmond Walk, Plymouth, Devon
TYPEWarehouse, Other, Industrial, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON23rd July 2022

Description

The premises are located in Richmond Walk, Stonehouse, Plymouth, the location being approximately 1.5 miles west of Plymouth City Centre close to Millbay Docks, Mayflower Marina and the waterfront.

The property comprises a site with two in number detached warehouses / industrial units of steel portal frame construction with profile steel cladding incorporating approx 10% translucent roof-lighting and power floated concrete floated floor. The property is located less than a mile to the west of the city centre and it forms part of Plymouth's historic waterfront, with views of the impressive Royal William Yard and Plymouth Sound. It is a cul-de-sac comprising a mixture of residential, leisure and commercial occupiers.

The site measures approximately 0.4ha and comprises two buildings of 1,474sqm and 1,603sqm (total c.33,100sqft) with a large car park.

Unit 2 is a single property, but Unit 1 is divided into 12 units. These can be combined if necessary. The planning use class is B1/B8 (permission granted in 2005 and 2007).

The City of Plymouth has developed into the principal conurbation in Devon having a population in excess of 250,000 and is the largest City in the South of England, West of Bristol. The City offers a range of retail, business and leisure amenities, together with the principal source of employment, namely Devonport Dockyard. The City forms part of the National Rail Network being located on the Penzance to Paddington mainline and has various links to European destinations.

The premises are located in Richmond Walk, Stonehouse, Plymouth, the location being approximately 1.5 miles west of Plymouth City Centre close to Millbay Docks, Mayflower Marina and the waterfront.

FREEHOLD SALE - ASKING PRICE £1,500,000. Based upon a purchase at this level and an Estimated Rental Value of £120,000 per annum, this reflects a net initial yield of 7.54% after the allowance of purchasers costs. (assumed at 1.8% plus SDLT).

Building 1 -To be confirmed
Building 2 - Rating C


Light industrial / warehouse / trade counter space

Substantial car parking provision

NEW 10 YEAR LEASE TO BE COMPLETED ON BUILDING 2, AGREEMENT FOR LEASE HAS BEEN SIGNED

Site of 0.4 hectare

Secure site

Close to Plymouth City Centre

Potential for future development - STP ( Agency Pilot Software ref: 5376 )

Location

marker
Location: Ocean Quay, Richmond Walk, Plymouth, Devon

Devonport (0.6 miles)

Dockyard (1.0 miles)

Plymouth (1.2 miles)

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