Investment For Sale Boringdon Mill, Plympton, Plymouth PL7 4BA

Boringdon Mill Business Park, Galileo Close, Plympton, Plymouth PL7 4BA

Tel: 01752 222135 www.listers.uk.com

Investment Summary • Multi-let industrial / trade counter / sui generis building partly two-storey • 12 units (some combined) comprising 25,700 ft² / 2,388 m² , Site of 1.07 acres / 0.3 hectares • Income of £129,000 pa (initial yield of 10.2% after assumed purchase costs of 5.75%) • Tenants include Silver Street Audi, Brewers, Moorland Pine • Situated prominently on arterial road in the heart of Plympton, 5 miles from city centre • Further asset management potential through planning, new lettings and re-structuring of leases • Plymouth is the largest city west of Bristol with a population of 250,000 and 350,000 in the 30-minute TTWA

Location Plymouth is the largest city on the south coast of England, with a resident population of 250,000; the City has a growth agenda to increase that to 350,000 by 2020. Plympton forms part of the Plymouth conurbation and lies approximately 5 miles from the City centre and railway station. As well as being a retail destination in its own right Plympton is a large dormitory suburb and an important industrial centre. Boringdon Mill faces the busy B3417 (just off the former route of the A38) so good access is available to the A38 dual carriageway, which links to the M5 motorway at Exeter, 35miles to the east and to Cornwall via the Tamar Bridge. Nearby occupiers include:- Original Style, Enterprise Car Rental, Hall Graves Lee, Chaplins, Lang & Potter and Viridor.

TENANCY SCHEDULE

Unit Tenant Size ft² Lease start Lease end Term Next review Reviews Rent £ pa

A, B & C Moorland Pine Limited T/A Furniture Direct 6,600 01-Jun-11 31-May-20 9 yrs n/a 46,000

D-F Thomas Frank & Linda Henwood (Boringdon Plastics) 5,900 01-Dec-00 30-Nov-12 12 yrs 01-Dec-09 3 yr 31,000

G&J Audi South West Ltd. T/a Plymouth Audi 3,200 01-Dec-10 30-Nov-13 3 yrs n/a 17,500

H & L C. Brewer & Sons Ltd. 4,400 20-Nov-02 19-Nov-14 12 yrs 20-Nov-08 3 yr 22,500

K & M Avenger Transport Ltd 4,400 25-Dec-12 24-Dec-13 1 yrs n/a 12,000

TOTAL 24,500 129,000

Boringdon Mill Business Park, Galileo Close, Plympton, Plymouth PL7 4BA

Tel: 01752 222135 www.listers.uk.com

Description The property comprises a collection of former factory/warehouse units, now multi-let to a variety of tenants, mainly for quasi retail/industrial or trade counter purposes, together with yard space and parking. The buildings are of steel portal frame construction with profile steel cladding and block-built offices/showrooms. Planning The established use appears to be primarily warehouse/storage, which can also include ancillary trade counter use. The local Planning Authority is Plymouth City Council (01752 304366).

Boringdon Mill Business Park, Galileo Close, Plympton, Plymouth PL7 4BA

Energy Performance The buildings have various EPC ratings, from B (49) to G (297). Copies of the certificates are available. Terms of Availability The property is held freehold and is for sale subject to the existing tenancies. Offers in the region of £1,200,000 are invited for the freehold interest which reflects a net initial yield of 10.2%, assuming normal purchaser’s costs at 5.75% and a potential yield of 11%. The property is currently elected for the payment of VAT. Each party will be responsible for its own legal costs incurred in the transaction. Business Rates Tenants are responsible for the payment of their own business rates and the 2010 Rateable Values are mainly in the region £46-48/m². Further Information To arrange inspection and for further information please contact: Ifan Rhys-Jones Listers Property Consultants ltd 16 Watson Place Plymouth PL4 9QN Tel: 01752 222135 irj@listers.uk.com www.listers.uk.com

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