Russell House, 3-3A Duke Street And 1-3 Pepper Street, Tavistock, Devon, PL19 0BA

This property represents a prime investment opportunity situated at a key corner location in the bustling Tavistock town centre. The ground floor features 4 retail units, each currently occupied and generating consistent rental income. The upper levels of the building house 4 flats, all sold on long leases.

The building underwent a complete external redecoration in August 2024 (previously having been done in 2017). The landlord recovers these costs fully. Both of the Duke Street tenants did not exercise their break clauses and the Pepper Street tenants have renewed their leases, showing the popular trading position.



Location

The property is located in a prominent corner position fronting Duke Street which is the prime retail pitch in Tavistock Town Centre. Nearby occupiers include Boots, WH Smith, Superdrug, Mountain Warehouse, Crew Clothing and White Stuff along with a mix of local and regional occupiers.

Accommodation

All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) on a net internal basis. Floor areas have been provided by the landlord, see the tenancy schedule.



Rent / Price

£600,000

Service Charge

A service charge is levied to cover the repairs and maintenance of the exterior and the stairwell to the apartments which is the only communal area. This also includes the maintenance of the fire alarm for the building and buildings insurance. The costs are 100% recoverable from the tenants, including management fees.

Services

We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

See the tenancy schedule.

Legal Fees

Each party to be responsible for their own legal fees in relation to this transaction.

VAT

The property has been elected for VAT and therefore VAT will be charged on the price.