Poseidon House, Neptune Park, Plymouth, Devon, PL4 0SJ

Poseidon House is located overlooking the river and comprises a four storey purpose built office building with on-site car parking and with a central ground floor entrance lobby. Suites are arranged either side of a central staircase / lift-well and there are male and female WCs, disabled access WCs and showers on each floor. The premises have comfort cooling, central heating, raised compartmental access flooring for ease of IT installation, full DDA compliance and good facilities to all floors. There is a large car parking area with allocated spaces, visitor spaces and EV charging points. The 3rd floor office accommodation is a single suite (the largest suite in the building) and part of the floor comprises the plant
room.

A data pack is available for interested parties to view.

Location

Neptune Park is an established mixed use regeneration area on the banks of the River Plym, just to the south east of Plymouth city
centre and with good access to both the A374 Embankment Road (which links the city centre to the A38 dual-carriageway at Marsh
Mills) and the A379 Kingsbridge Road.

Accommodation

Please refer to the sales brochure for the Schedule of Accommodation and Tenants.

Rent / Price

Asking price of £1,350,000.00 which reflects a net initial yield of 12.03% (after an allowance of 6.02% purchase costs) on the topped up income of £172,220 (including 12 month rent cover on second floor inland suite). Equates to a low capital value of approximately £70 per sq ft overall.

Service Charge

A service charge applies to the building covering the maintenance, repair and insurance of the exterior of the building, the common parts and the car parking area. The current annual budget is £122,045.

Business Rates

Please refer to page 7 of the sales brochure to view the rateable values.

Services

Mains Gas, electricity (including 3 phase) water and drainage services/supplies are connected to the property. The Agents have not tested the services and parties should make their own enquiries.

EPC

The building has an EPC for the common parts of D with a score of 83, valid to April 2030. Works to upgrade to a C rating are currently underway. The individual suites have EPCs within Bands B & C.



Legal Fees

Each side will be responsible for their own legal costs incurred in the transaction.

VAT

Is charged on rents and service charges and will be charged on the sale price.