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Commercial Property for sale

112 Ridgeway, Plymouth, PL7

Withdrawn from Market £185,000
129 sq. m.

Property Description

Commercial information

  • 1,389 sq ft (129 sq m)

Key features

  • Retail Investment
  • Prominently located premises in popular district shopping centre
  • Net initial yield of 7.34%
  • New 10 year lease on Full Repairing and Insuring terms.

Full description

Tenure: Freehold

A commercial/retail investment that will be sold on a Freehold basis, subject to the existing lease.

The property is laid out over 3 floors and is prominently located to the northern end of The Ridgeway district shopping centre.

The current lease expires in April 2018 with the current rent passing at £14,000. Based upon a purchase price of £185,00 this represents a net initial yield of 7.34% after the allowance of purchaser's costs.

Plympton is one of the principal suburban centres within the City of Plymouth, itself the largest city in Devon and Cornwall with a residential population of approximately 250,000, and a catchment population of around 350,000. The city is one of the major administrative, educational, retail and tourist centres in the South West, with road links into Cornwall and east to the M5 at Exeter.

Ridgeway, Plympton is close to A38 Devon Expressway and around 4 miles from the City Centre. Ridgeway is a very busy thoroughfare and forms the focal point of a long established residential and commercial area of the city. The retail street benefits from a large free car park adjacent . Plympton in general and Ridgeway in particular has also seen significant recent investment including the opening of a very popular Wetherspoons.

More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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