20 The Barbican, Unit 20 The Barbican, Westgate Industrial Estate, Plymouth, Devon, PL1 2LS
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Leisure facility for sale
Key features
- Marina location in central Plymouth
- Leisure/Retail opportunity
- GIA: 800.1 sq m
- Energy rating: A
- Gross rental income: £169,500 per annum
- Renovated in 2022 to a high standard
- Christie & Co Ref: 3867960
Description
The property consists of the former Old Fish Market, which has been subdivided and refurbished to create three restaurant/retail units. The property is being sold as a freehold investment.
The property dates back to the 1800s, preserving its original steel frame, now complemented by full-height glazing, and underwent a roof renovation in 2022.
Adjacent to the building it is a restaurant housed in a former glass-blowing factory.
20 The Barbican is situated in the southwest corner of Sutton Harbour, facing West Quay and Guys Quay. It can be accessed via Southside Street from Vauxhall Street (B3240) to the north. Sutton Harbour is Plymouth’s historic waterfront destination and features modern offices and a diverse range of restaurants, cafes, bars and shops.
Plymouth Hoe is located approximately 500 metres from the property, positioned on the historic Barbican boasting waterside views, near the Mayflower Steps.
Plymouth, a coastal city in Devon, is well-connected by various transport routes. The city is accessible via the A38 dual carriageway, which links to the M5 motorway, providing direct routes to Exeter, Bristol, and beyond.
Plymouth railway station offers regular services to London Paddington, Exeter, and other major cities.
The property is in a Conservation Area and is Listed, Grade II. We are not aware of any recent planning applications in relation to the property.
TenureUnit 1 of the Old Fish Market has been leased to The Cornish Bakery Shops Limited for 15 years starting from December 13 2022, at an annual rent of £46,000.
Unit 2 has been leased to Pavers Limited on a new 10-year lease from January 15, 2023, at an annual rent of £57,050.
Unit 3 is leased to Loungers UK Ltd for 15 years starting from March 29, 2023, at an annual rent of £66,500.
All three leases include upward-only rent reviews every five years and are on effectively full repairing and insuring (FRI) terms. Loungers have also been granted a licence for external seating along the northern and western sides of their unit for the duration of the lease. The Cornish Bakery also has external seating.
The current rateable value effective from 1 April 2023 are £90,000. The tenant is responsible for any rates payable.
Energy Performance Certificates
EPC 1Brochures
20 The Barbican, Unit 20 The Barbican, Westgate Industrial Estate, Plymouth, Devon, PL1 2LS
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Plymouth Station0.8 miles
- Devonport Station1.8 miles
- Dockyard Station2.1 miles
Notes
Disclaimer - Property reference 3867960-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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