MIXED USE CONVENIENCE STORE, RETAIL AND RESIDENTIAL INVESTMENT

Plymouth, PL1 4AE

Available

Property Type Investment
Availability For Sale
Size 5483 sqft
Energy Performance Rating N/A

Mixed Use Convenience Store Retail and Residential Investment. Overriding lease to a D&B 5A1 Covenant Let for 16.5 Years no Breaks


LOCATION

Plymouth is a major regional commercial centre and port having a population of some 245,000. In addition to its maritime links, the city is served by the A38/Devon Expressway providing direct access to Cornwall to the west and Exeter and the M5 Motorway to the east. The property is situated in a suburb of Plymouth to the west of the town centre on Marlborough Road a pedestrianised thoroughfare in an established local shopping parade. Occupiers close by include Iceland, Lloyds Pharmacy and a number of local traders, amongst others.

KEY POINTS

  • Located in an established residential suburb 3 miles west of Plymouth town centre
  • Situated in a pedestrianised street
  • Whole property let for 16.5 years with no breaks to Martin McColl Ltd with a guarantee from McColl's Retail Group Plc
  • Total current rents reserved £77,261 per annum rising to £85,303 per annum on 1st August 2026
  • Freehold
  • Let to a D&B 5A1 Covenant
  • Fixed uplifts at 2% pa offering guaranteed rental growth
  • Purchase at this level would reflect a Net Initial Yield 6.37%, with a reversionary yield of 7.01% in August 2026
  • Offers in excess of £1,150,000
The proposal is a two storey substantial mid terrace block comprising a concrete framed building under a flat roof and adjoining period building over ground and two upper floors. The retail offering is arranged over the ground floors with ancillary and staff accommodation to the rear. The upper parts comprise 7 self contained flats with rear access. McColls sublet the flats and the 2 other retail units and have an overriding lease on the whole.
< Back to properties VIEW SHORTLIST Download Marketing Brochure Download 2020-02-12 Reversionary Lease(Martin McColls Ltd and McColls Retail Group plc).PDF Download Official Copy (Title Plan) - DN213021.PDF Download Official Copy (Title Plan) - DN5910.PDF

Viewing & Further Information

For further information, or if you would like to arrange a viewing, please contact our agents:

Michael Braier

020 7478 9112

CONTACT AGENT


Nick Sherling

020 7478 9113

CONTACT AGENT


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