The Quay | Plymouth Rd
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The Quay Plymouth Rd
10,439 SF 85% Leased Office Building Tavistock PL19 8AB £890,000 (£85/SF) 10.07% Net Initial Yield
Investment Highlights
- Prominent and attractive building
- Rendered finishes to the elevations under a series of slate covered pitched roofs
- Arranged over two and three storeys
Executive Summary
Guide of £890,000 which reflects a net initial yield of 10.07% after an allowance for purchasers costs of 5.62%. This equates to approx. £85 per sq ft (excluding library area) overall. Upon letting of the ground floor suite at the asking rent, there is a potential reversionary yield of 11.86% (after purchasers costs
The property is held on a 130 year FRI lease from 21st February 2000 from West Devon Borough Council at a peppercorn (red edged line on the plan). The user clause in the lease provides for a variety of uses, including offices, library, residential, fitness suite and/or restaurant. The blue edged line on the plan denotes the area that has been sold on a 125 year long leasehold from 25th December 2000 to Livewest Homes Limited.
The property is held on a 130 year FRI lease from 21st February 2000 from West Devon Borough Council at a peppercorn (red edged line on the plan). The user clause in the lease provides for a variety of uses, including offices, library, residential, fitness suite and/or restaurant. The blue edged line on the plan denotes the area that has been sold on a 125 year long leasehold from 25th December 2000 to Livewest Homes Limited.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
10,439 SF
Building Class
B
Year Built
1920
Price
£890,000
Price Per SF
£85
Net Initial Yield
10.07%
NOI
£89,623
Percent Leased
85%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
3,480 SF
Building FAR
1.71
Land Acres
0.14 AC
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Available space comprises 1,527 sq ft of office area. A new FRI lease is available for terms to be agreed, rent at £16,800 pa.
| Space | Size | Space Use | Condition | Available |
| Ground | 1,527 SF | Office | Full Build-Out | Now |
Ground
| Size |
| 1,527 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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Ground
| Size | 1,527 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Available space comprises 1,527 sq ft of office area. A new FRI lease is available for terms to be agreed, rent at £16,800 pa.
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Joanne High -
Vickery Holman
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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The Quay | Plymouth Rd
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