Lunar Rise, Exeter Street - Sutton Harbour, Plymouth, Devon, PL4 0AL
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Central Plymouth location
- Leisure/Retail opportunity
- GIA: 939.70 sqm
- Energy rating: C
- Gross rental income £19,500 per annum
- Renovated in 2022
- Christie & Co Ref: 3867959
Description
The property features a spacious ground floor unit, previously used as a gym, along with two cafés held on a long lease. Built in the 1990s, this development includes residential apartments on the upper floors.
The former gym boasts extensive frontage on Exeter Street, while one café faces Bretonside and the other is situated between the two, accessible via North Street. The asset does not include car parking.
The property is located between the A374 Exeter Street and Bretonside, just north of Sutton Harbour. Exeter Street serves as a main route into the city centre, connecting with the A38 Devon Expressway, while Bretonside offers access to the Sutton Harbour area.
The surrounding area features a diverse mix of residential, retail, leisure, and hotel properties.
Plymouth, acoastal 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.
The property is not located in a Conservation Area and is not listed. We are not aware of any recent planning applications in relation to the property.
TenureThe property is held on a 155-year lease from 1 September 2005 at a fixed peppercorn (136 years unexpired).
The property is leased to two tenants under separate effectively full repairing and insuring leases. The current annual income is £19,500, with scheduled rental increases in both leases.
The former gym unit is currently vacant but offers a wide variety of alternative uses and could perhaps be subdivided into smaller units.
When occupied this unit achieved a rental income of in excess of £60,000 per annum.
The current rateable value effective from 1April 2023 are £89,000. The tenant is responsible for any rates payable.
Energy Performance Certificates
EPC 1Brochures
Lunar Rise, Exeter Street - Sutton Harbour, Plymouth, Devon, PL4 0AL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Plymouth Station1.0 miles
- Devonport Station2.0 miles
- Dockyard Station2.4 miles
Notes
Disclaimer - Property reference 3867959-lh. 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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