The property comprises commercial premises on the ground floor which are currently utilised as a Betting Shop and let on Lease to Ladbrokes Betting & Gaming Ltd, trading as Ladbrokes, the Lease being a term of 10 years commencing on the 25th March 2023 with a 5 year break clause, allowing for rent review or termination at a current rent of £6600 per annum exclusive
In addition there are two self contained fl ats above accessed from Craven Avenue as follows :-
FIRST FLOOR FLAT - Let on an unfurnished basis apart from carpets, blinds and fitted kitchen, to Ivor Lander, on an Assured Shorthold Tenancy at a rent of £ 585 per calendar month exclusive.
SECOND FLOOR FLAT - Let on an unfurnished basis apart from carpets, blinds and fitted kitchen to Myfanwy Leppitt and Jacob Howard on fixed term agreement of 12 months commencing on the 16th September 20205 at a rent of £ 850 per calendar month exclusive.
The residential units are spacious and enjoy the benefit of gas central heating, boiler renewed ( 2023 & 2024 ), upvc double glazing, current gas, electrical and EPC certificates.
The building is of traditional construction, the external elevations have a stucco rendered finish with a Parex coating under an asbestos slate roof.
The Accommodation includes :-
On the Ground Floor :
The self contained Lock up Shop including the Betting Shop accessed from Salisbury Road, Managers Office, Public Toilet, Kitchenette, Staff Toilet and access to a rear yard.
Living Accommodation accessed from external stairs off Craven Aveneue, into a vestibule entrance & hallway.
On the First Floor
A self contained flat comprising:
ENTRANCE HALL - with central heating radiator and serviced fi re extinguisher.
LOUNGE - with Bay Window, 2 radiators and hard wired smoke alarm.
DOUBLE BEDROOM - with built in wardrobe, low cupboard, radiator and hard wired smoke alarm
KITCHEN - White fitted kitchen with stainless steel single drainer sink, base unit, worktop surface set with 4 ring Zanussi gas hob and Zannusi electric oven under, wall cupboards and Zanussi extractor fan, radiator, hard wired heat, carbon monoxide alarm and serviced fi re blanket.
BOILER ROOM - with Worcester 4000 25KW gas fi red combo boiler( New 19/12.23) supplying central heating and hot water, hot & cold plumbing for
washing machine and 2 litre serviced fi re extinguisher.
BATHROOM - with panelled bath and overhead shower, pedestal washbasin, low flush W.C. and radiator.
On the Second Floor
A self contained flat comprising :
ENTRANCE LOBBY and STAIRS :-
LANDING - with fixed storage cupboard, fuse board and radiator.
LOUNGE - with Bay window and radiator.
PRINCIPAL BEDROOM No.1 - with built in wardrobe, low cupboard and radiator.
BEDROOM No.2 - with corner hanging space and radiator.
BOILER ROOM - with Worcester Greenstar 4000 25kw Combi gas boiler, hot & cold plumbing for washing machine.
KITCHEN/BREAKFAST ROOM - with Bay window, stainless steel sink, mixer tap and base unit, worktop, wall cupboards, extractor fan, 4 ring gas hob, electric oven under and radiator.
BATHROOM - with coloured suite comprising panelled bath with overhead shower, pedestal washbasin and tiled splash back, low level W.C. and radiator.
OUTSIDE - Enclosed rear yard with cycle storage for each fl at. Accessed from Salisbury Road. Accessed internally as Secondary Escape in case of fire.
Plymouth is the second largest centre in the south west of England after Bristol and lies approximately 120 miles to the south west of Bristol and 45 miles to the south west of Exeter. The city has excellent communication links with the A38 dual carriageway providing direct and easy access to Exeter and the M5 motorway. Plymouth is served by First Great Western, providing direct rail access to London Paddington (3 hours) and Bristol
Temple Meads (2 hours).
The premises occupy a prominent corner site at the junction of Salisbury Road and Craven Avenue, within the vibrant St. Judes area, just a short walk from the expansive green spaces of Beaumont Park and Freedom Fields.
The premises are to be sold on Freehold basis, subject to the existing tenancies.
The asking price is £325,000. A purchase at this sum reflects a net initial yield of 7.10% after the allowance of purchasers costs of 3.27%.
