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Grampound Rd

5,971 SF 91% Leased Industrial Building Grampound Road TR2 4DS £400,000 (£67/SF) 11.03% Net Initial Yield

Investment Highlights

  • Established office/storage and nursery investment
  • Scope for active management and development
  • Comprises 8 units

Executive Summary

A freehold estate comprising 8 individual units offering a mix of office, hair salon, storage and children’s nursery. The estate is accessible from Fore Street with a variety of properties located on the northern and southern boundary within a terrace of single storey properties occupied by a number of local businesses. The estate has a number of long established occupiers and has been subject to improvement works to the majority of units including external painting, part gravelled car parking area with some units having carpeting, LED lighting and electric panel heaters. A separate toilet block provides facilities for units 1 and 5. Each unit is self contained with individual access off the estate road. The estate is income producing with gross annual rents of £41,408 with one vacant property. The estate provides a variety of buildings with ample on-site car parking facilities used in conjunction with the estate located towards the western boundary. There is scope for potential residential development, conversion subject to the necessary planning consents being obtained although there is a restrictive covenant on part of the land.

Property Facts

Price £400,000
Price Per SF £67
Sale Type Investment
Net Initial Yield 11.03%
Tenure Freehold
Property Type Industrial
Lot Size 0.14 AC
Rentable Building Area 5,971 SF
Number of Floors 1
Year Built 1900

Amenities

  • Bus Route
  • Courtyard
  • Yard

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • Ground - 5
  • 560 SF
  • Light Industrial
  • Full Build-Out
  • Now

Available space comprises open plan area with small partitioned spaces. A new lease is available for £5,000 pa.

Space Size Space Use Condition Available
Ground - 5 560 SF Light Industrial Full Build-Out Now

Ground - 5

Size
560 SF
Space Use
Light Industrial
Condition
Full Build-Out
Available
Now

Ground - 5

Size 560 SF
Space Use Light Industrial
Condition Full Build-Out
Available Now

Available space comprises open plan area with small partitioned spaces. A new lease is available for £5,000 pa.

  • Listing ID: 32875642

  • Date on Market: 19/08/2024

  • Last Updated:

  • Address: Grampound Rd, Grampound Road TR2 4DS

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