Co-op, Starbucks and Ionity Investment, Conway House, Dolbeare Business Park, Newton Abbot, TQ13 7FL
Offers in Excess of
£3,995,000
£86.52 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
46,174 sq ft
4,290 sq m
- SECTOR
Convenience store for sale
Key features
- Prime roadside investment extending to approximately 1.06 acres (0.429 hectares).
- Benefiting from significant exposure to high traffic volumes, with approximately 48,000 daily vehicle movements.
- Fully let (AFL’s) to established covenants, including Co-op (15-year lease), Starbucks (15-year lease) and IONITY (30-year lease).
- Total rent roll of £224,500 per annum.
- Offers invited in the region of £3,995,000, representing a 5.27% NIY on a forward commitment basis.
Description
Description
The site comprises of approximately 1.06 acres (0.429 hectares) bounded by the A38 and B3352. The land is relatively flat with an undulating bank rising from south to north.
Planning permission has been granted for a convenience store, a drive thru unit and EV parking. Works have commenced with a full practical completion planned for Q4 2025.
The drive-thru unit set on a 0.36 acres site has been let to Starbucks and will comprise a purpose-built restaurant with a dedicated drive-thru lane. The unit will total approximately 1,840 sq. ft and have 15 car parking spaces with an anticipated completion date of October 2025.
The convenience store set on a 0.56 acres site has been pre-let to The Co-op Group Food Ltd and will provide 4,273 sq. ft of retail and storage space. The brand-new single-storey unit will include parking for 17 cars and a loading bay. It will be constructed using a portal frame design and clad in stone and timber with some render. The convenience store has an anticipated completion date of July 2025.
Along with the car parking spaces from the two occupiers, there is 10 additional EV charging bays, which sit on a site area of 0.14 acres and have been let to Ionity GmbH.
CGIs and floor plans are available upon request.
Location
Ashburton is well located geographically being approximately equidistant (approximately 20 miles) between the three major commercial centres of Plymouth (west), Torbay (south) and Exeter (east). Located adjacent to the A38 Devon Expressway, Ashburton is a busy market town and provides a gateway to the Dartmoor National Park sitting on it’s southern edge. The A38 merges into the M5 at Exeter (16 miles) whilst providing access to Cornwall 20 miles west. Dolbeare Meadow Business Park is a 3 acre site currently accommodating a Devon & Cornwall Police department and with a further 30,000 sq ft plus of new business space planned and/ or about to commence construction. The subject property will provide a much needed convenience retail provision to serve Ashburton, the South Devon Community College, Ashburton Cookery School along with the proposed development of the Park itself. It will also provide a welcomed amenity for the established and highly successful Linhay Business Park just 400m along the road which accommodates a range of national and local occupiers including Age UK, Devon & Cornwall Police, Cambium Networks etc.
Traffic Count
Department for Transport Daily Traffic Counts are provided below for the most recent year:-
A38 - 48,226
Planning
Planning permission has been granted for the site in accordance with the below. Application No: 0399/24 proposes the development of five flexible non-retail Class E units (covering subcategories c, d, e, f, and g), along with an electric vehicle charge park, a café building, and drive-thru facilities. Application No: 0252/24 relates to the provision of five Class E units, comprising one convenience store and four commercial units.
Tenure & Guide
Offers are invited in the order of £3,995,000 (representing a 5.27% NIY) for the freehold interest subject to the 3 occupational leases by way of forward commitment with purchasers costs of 6.52%. Alternatively individual offers for each demise (as indicated in yellow on our lotting plan) are invited based on the same yield guide.
A 5% deposit will be payable on exchange with completion upon practical completion of the units and lease completions (scheduled for October 2025). Rent free will be absorbed by the vendor byway of a rent top up or price adjustment reflective of the completion date.
VAT
Vat is applicable but it is assumed that the sale can be treated as a TOGC and therefore VAT will be waivered.
EPC
No buildings are present on site. The EPC’s will be assessed upon completion of the development.
Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.
Viewing
For a formal viewing strictly by appointment with Savills and Monk & Partners.
The site comprises of approximately 1.06 acres (0.429 hectares) bounded by the A38 and B3352. The land is relatively flat with an undulating bank rising from south to north.
Planning permission has been granted for a convenience store, a drive thru unit and EV parking. Works have commenced with a full practical completion planned for Q4 2025.
The drive-thru unit set on a 0.36 acres site has been let to Starbucks and will comprise a purpose-built restaurant with a dedicated drive-thru lane. The unit will total approximately 1,840 sq. ft and have 15 car parking spaces with an anticipated completion date of October 2025.
The convenience store set on a 0.56 acres site has been pre-let to The Co-op Group Food Ltd and will provide 4,273 sq. ft of retail and storage space. The brand-new single-storey unit will include parking for 17 cars and a loading bay. It will be constructed using a portal frame design and clad in stone and timber with some render. The convenience store has an anticipated completion date of July 2025.
Along with the car parking spaces from the two occupiers, there is 10 additional EV charging bays, which sit on a site area of 0.14 acres and have been let to Ionity GmbH.
CGIs and floor plans are available upon request.
Location
Ashburton is well located geographically being approximately equidistant (approximately 20 miles) between the three major commercial centres of Plymouth (west), Torbay (south) and Exeter (east). Located adjacent to the A38 Devon Expressway, Ashburton is a busy market town and provides a gateway to the Dartmoor National Park sitting on it’s southern edge. The A38 merges into the M5 at Exeter (16 miles) whilst providing access to Cornwall 20 miles west. Dolbeare Meadow Business Park is a 3 acre site currently accommodating a Devon & Cornwall Police department and with a further 30,000 sq ft plus of new business space planned and/ or about to commence construction. The subject property will provide a much needed convenience retail provision to serve Ashburton, the South Devon Community College, Ashburton Cookery School along with the proposed development of the Park itself. It will also provide a welcomed amenity for the established and highly successful Linhay Business Park just 400m along the road which accommodates a range of national and local occupiers including Age UK, Devon & Cornwall Police, Cambium Networks etc.
Traffic Count
Department for Transport Daily Traffic Counts are provided below for the most recent year:-
A38 - 48,226
Planning
Planning permission has been granted for the site in accordance with the below. Application No: 0399/24 proposes the development of five flexible non-retail Class E units (covering subcategories c, d, e, f, and g), along with an electric vehicle charge park, a café building, and drive-thru facilities. Application No: 0252/24 relates to the provision of five Class E units, comprising one convenience store and four commercial units.
Tenure & Guide
Offers are invited in the order of £3,995,000 (representing a 5.27% NIY) for the freehold interest subject to the 3 occupational leases by way of forward commitment with purchasers costs of 6.52%. Alternatively individual offers for each demise (as indicated in yellow on our lotting plan) are invited based on the same yield guide.
A 5% deposit will be payable on exchange with completion upon practical completion of the units and lease completions (scheduled for October 2025). Rent free will be absorbed by the vendor byway of a rent top up or price adjustment reflective of the completion date.
VAT
Vat is applicable but it is assumed that the sale can be treated as a TOGC and therefore VAT will be waivered.
EPC
No buildings are present on site. The EPC’s will be assessed upon completion of the development.
Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.
Viewing
For a formal viewing strictly by appointment with Savills and Monk & Partners.
Brochures
Co-op, Starbucks and Ionity Investment, Conway House, Dolbeare Business Park, Newton Abbot, TQ13 7FL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Totnes Station6.2 miles
About Savills, Southampton - Licensed Leisure
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