20 New George St Local commercial 462 m² 100 % Loué À vendre Plymouth PL1 1RL 688 247 € (1 488,79 €/m²) Taux de capitalisation 10 %

We are instructed to seek offers of £600,000 (Six Hundred Thousand Pounds), subject to contract and exclusive of VAT for our clients long leasehold interest. A purchase at this level reflects a net initial yield of 10% after allowing for standard purchaser’s costs.
The property is held on a 125 year lease from Plymouth City Council from 8 July 1999 at a rent of 10% of rent received (currently £7,000 pax) and is subject to 5 yearly rent reviews. The long leasehold interest is held under title numbers DN419223 & DN758812.
The property comprises a mid-terraced building arranged over three storeys to the front and a single storey to the rear. The ground floor provides retail accommodation with storage/ ancillary to the rear and at first floor. An independent entrance provides access from New George Street to separate first floor and second floor accommodation occupied by a hair and beauty salon. The property is situated on the north eastern side of pedestrianised New George Street, a major retail thoroughfare that connects Drake Circus to the Sundial and Armada Way, with consistently high levels of footfall. Tenants nearby including Tesco Express, Halifax, Edinburgh Woollen Mill, Card Factory, Body Shop and Trespass.