Commercial Property for sale

Old Mill Creek, Old Mill Creek, Dartmouth, Devon, TQ6

Guide Price £2,900,000

Property Description

Key features

  • Mixed-use site
  • 6.84 acres
  • Operational boatyard
  • Detached chalet bungalow
  • Commercial investment properties

Full description

A unique opportunity to acquire a mixed-use site of approximately 6.84 acres / 2.76 hectares including an operational boatyard and a detached chalet bungalow.

Summary - A unique opportunity to acquire a mixed-use site of approximately 6.84 acres / 2.76 hectares including an operational boatyard and a detached chalet bungalow. See full brochure for further details.

Location - Dartmouth is one of the most popular and picturesque tourist destinations in Devon, as it's not only close to the sea, but it's also situated on the River Dart. Its location on the river means it has historical importance and was the former home of the Royal Navy. It was also the sailing point for the Crusades in the 12th century. Now a popular tourist destination set on the banks of the River Dart - with a tidal river running inland as far as Totnes and beyond. It lies in the South Devon Area of Outstanding Natural Beauty and South Hams District and has a small resident population of about 5,500 inhabitants.
 
Dartmouth has a busy town centre with many attractions for tourists, including its shops, restaurants and galleries. Dartmouth is the location of many local events, such as the annual Dart Music Festival and the Port of Dartmouth Royal Regatta. There are a number of lovely beaches in the South Hams and excellent golf courses at Dartmouth and Churston.

The Site - The acquisition of Old Mill Creek complex represents a unique opportunity to acquire a lifestyle business combining secure commercial rental income, a beautiful home and a working boatyard. The various businesses and property that combine to form the Old Mill Creek complex have been established for many years and carefully assembled by the current sellers over a long period of time. The commercial element comprises three distinct sections, the working boatyard known as Creekside Boatyard, Old Mill Boatyard which is let to individual businesses, and a substantial commercial investment.

Creekside Boatyard - The heart of the Complex is a working boatyard sited on a large level hard surfaced area with direct river access. Vehicle and pedestrian access is also available over a driveway from the made up and adopted public road. The boatyard has been in operation for many years and provides a valuable facility for maritime users in the area. There is extensive accommodation for boat storage, lift out and lift back in facilities and covered workshop space. Winter storage has averaged approx. 1200 ft. There is also a substantial sectional steel frame and aluminium clad workshop capable of providing covered storage for vessels up to 45ft.There is a further covered workshop and storage area, an office, parking for a number of vehicles, and a shower together with male and female WC's. The annual income from the boatyard averages around £45,000 per annum. As part of the commercial activity income is also derived from the area of foreshore shown blue on

Old Mill Boatyard - This section of the Complex comprises a two storey building constructed in the 1970's around a steel frame which has been clad externally. The building is sub-divided into a number of separate offices and workshops together with a flat. There is also hard standing for boat storage, parking, wc facilities and 15 lock up stores. The main workshops range from around 250 sq ft to 1,000 sq ft occupied by a number of marine based businesses. There are further workshops and hardstanding storage areas beyond the main building. In addition there is an area suitable for 6-8 mud berths and pontoon leading to a dry dock barge. Tenancy details are provided in the table on the brochure. The annual income is in the region of £35,000.

Old Mill Creek Boatyard - Old Mill Creek Boatyard
 
South Hams District Council
The local authority occupy a substantial steel portal frame building on the site which has direct river access via to the slipways. The buildings comprise approximately 6,800 sq ft of useable accommodation including covered slipways, workshop and welfare areas. Immediately to the rear of the property is a stone built store which houses the winch for the slip. Some parking is available on site.
The Lease
The property is held by way of a 15 year Lease from 1st August 2016 at a rent of £30,000 per annum from 1st August 2018 and subject to further rent reviews. The property is occupied on full repairing and insuring terms. The council have been tenants on the site for many years and use the facility to support their ferry boat operation.
 
Dart Pleasure Craft Limited
This part of the complex comprises a substantial relatively modern covered slipway, an open slipway, together with a part stone built and part timber framed workshop. The accommodation in this stone workshop is planned over two floors and is used for workshops and storage. In addition to these areas there is a level storage area with mooring against the river bank, plus extensive mud flats. There is an additional two storey store and welfare building and single storey storage area. The total floor area extends to approximately 8,300 sq ft including the uncovered slipway. The modern building was constructed by the tenant in 2003 as a replacement for an existing building. This property is considered by the tenants to be a tenant's fixture and extends to approximately 4,100 sq ft
The Lease
21 year Lease from the 25th March 2001 expiring on the 24th March 2022. Current passing rent £19,500. Reviews are reserved in every three years and there are a number of rent reviews outstanding.

Creekside Bungalow - Commanding a secluded, hillside setting, Creekside Bungalow has been extended and renovated in recent years and now provides bright and spacious accommodation laid over two floors. See brochure for details.

Local Authority - South Hams District Council

Services - Creekside Bungalow: Mains water and electric. Private drainage (septic tank) and oil fired central heating
Old Mill Creek Boatyard: Mains water and electric. Private drainage (septic tank).

These particulars are a guide only and should not be relied upon for any purpose.


Nearest station

  • Paignton (5.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stags, Dartmouth

9 Duke Street, Dartmouth, TQ6 9PY

01803 367048 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Stags, Dartmouth

9 Duke Street, Dartmouth, TQ6 9PY

01803 367048 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Paignton (5.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stags, Dartmouth

9 Duke Street, Dartmouth, TQ6 9PY

01803 367048 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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