Light industrial / warehouse investment
Summary
- Freehold disposal subject to the existing lease
- Lease expiry 2030
- Very Low Risk rated Tenant - further details available upon request
- Net Initial Yield -7.81%
Location
The premises is approximately 1/2 mile from the Torpoint ferry terminal linking to the City of Plymouth, and with access to the A374 links westward into Cornwall and around to Saltash and the A38.
Torpoint is linked to the City of Plymouth via a regular car ferry service and the A374 (formerly the A38) as well as the A38 dual carriageway via the Tamar Bridge at Saltash. Other occupiers include a range of independent businesses, including Essential Supplies, AMS fabrication, Motor Trade users and plumbers’ merchants, as well as national operators such as the RNLI.
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Mainline Stations
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Dockyard (Devonport)25 mins
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Devonport26 mins
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Keyham30 mins
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St Budeaux Ferry Road41 mins
Underground Station
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Reading3078 mins
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Twyford3169 mins
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Maidenhead3299 mins
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Taplow3333 mins
Further Information
Price Offers in the region of £225,000
Rates Payable Upon Enquiry
Description
Our client wishes to dispose of the freehold interest in the premises, subject to the existing lease.
The lease is for a term of 6 years commencing 15th April 2024. The lease has a Rent Review and a Tenant only break on the 3rd anniversary of the term.
Producing a rent of £18,000 pax
Asking Price - £225,000 reflecting a net initial yield of 7.81%
The Tenant is Shearwater Marine Services Limited (company registration number SC137036) whose registered office is Unit 19, Highland Avenue, Dunoon, Argyll, Scotland, PA23 8PB.
The Tenant has been trading for in excess of 32 years and is rated as a Very Low Risk Company - Further details available upon request
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