Modbury Court, 32 Church Street, Modbury, Ivybridge, Devon, PL21 0QR
Size
1,492
Tenure
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EPC
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Parking
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- Primary use
- Other
- Other use(s)
- Traditional office, High street retail
No floor / site plan
Key features
- Attractive town in the South Hams
- Multi let retail investment
- Rental income of £18,063 pa
- Potential to increase to £21,209.40 pa once fully let
- NIY - 6.76%. Reversion to 7.94% once fully let.
- Some longstanding tenants (15+ years)
Description
On the first floor are 3 x 3 bed flats which have been sold off on long leasehold interests. As the residential is more than 50% of the property, a Section 5 notice has been served to the tenants with none of them opting to purchase.
Location
Situated in the heart of Modbury, a picturesque Georgian town in the heart of the South Hams, 12 miles east of Plymouth and 6 miles from Kingsbridge.
The property occupies a prominent location in the centre of the town where there is a range of national and local occupiers. There is on street car parking as well as public pay and display car parks near by.
Accommodation
All areas are approximate and have been provided from the landlord's floor plans. Please see the tenancy schedule.
Rent / Price
£260,000
Service Charge
A service charge is levied for the upkeep and maintenance of the communal areas. Please enquire for further information.
Business Rates
Occupiers may be eligible for Small Business Rates Relief if this is the only property they occupy and/or any other properties they occupy have a rateable value of less than £2,900 each.
Qualifying ratepayers will pay no rates on properties with rateable values up to £12,000 with a tapered relief of between 100% and 0% for properties with rateable values between £12,001 and £15,000.
Interested parties are advised to confirm the rating liability with South Hams District Council.
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
Please 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 not been elected for VAT and therefore VAT will not be charged on the price.
- Service charge
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- Business rates
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- Use class
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
Modbury Court, 32 Church Street, Modbury, Ivybridge, Devon, PL21 0QR
About Vickery Holman, Plymouth
Vickery Holman is a multi-disciplined property company, the roots of which can be traced back as far as 1848. Today, the consultancy has more than 60 people working in four offices, strategically placed across the South West. Vickery Holman is a limited company, owned by its employees, and is a member of the RICS (Royal Institution of Chartered Surveyors).
Our consultants offer a full spectrum of skills in all areas of property, from all aspects of general practice and building surveying, right through to the management of commercial and residential property. Our specialist areas include dispute resolution, development consultancy, valuation, lease consultancy, business rates negotiations, in addition to commercial sales, lettings and acquisitions.
We deliver commercial property opportunities to a wide range of clients from single tenants to large scale investors. Our tailored, personal service aims to empower all our clients, whether they are new to property or seasoned professionals. We believe communication through personal contact is key to highlight those investment opportunities or potential pitfalls.
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Disclaimer - Property reference 21089FH. 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 Vickery Holman, Plymouth. 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.