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Lunar Rise, Exeter Street - Sutton Harbour, Plymouth, Devon, PL4 0AL

Guide Price
£360,000

Business rates & charges may apply

Christie & Co, Pubs & Restaurants
SIZE

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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

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.

Location

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.

Planning Permissions

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.

Tenure

The 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.

Business Rates

The current rateable value effective from 1April 2023 are £89,000. The tenant is responsible for any rates payable.

Energy Performance Certificates

EPC 1

Brochures

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

About Christie & Co, Pubs & Restaurants

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

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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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