High Bay Warehouse 1-2 Broadley Park Rd 30,928 sq ft 100% Let Industrial Property Roborough PL6 7EZ £3,750,000 (£121.25/sq ft) 6.46% Net Initial Yield

Multi-Let Commercial Investment - NHS and Groenveld. Tenure: Freehold.
We are instructed to seek offers of £3,750,000 (Three Million, seven hundred and fifty thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.46% (assuming purchaser’s costs of 6.52%).
The property is fully let to 2 tenants and produces a total income of £257,850 per annum, reflecting a low average rent of £8.33 per sq. ft overall:
- Groenveld Uk - A manufacturer and distributor of automatic lubrication systems The Risk Score is 67 and the Rating, B. This is as of September 2025.
- NHS - Plymouth University Hospitals NHS Trust fulfilment warehouse
The property comprises a modern detached warehouse, constructed in 2000. The unit is of steel portal frame construction and is clad with insulated double-skin steel sheeting to the external elevations and roof. Internally, the units have the following specification:
Modern manufacturing unit
Eaves height of 7.7 meters
5 Electric loading doors
400 kVA electricity supply
Secure parking for 40 vehicles
Secure yard area
Goods loading is via five electrically operated up and over doors of the eastern elevation. The unit is supplied with three phase electricity, mains, water, drainage and gas.
Externally there is a mixture of tarmacadum car parking and a concrete yard which provides loading external storage and circulation. A palisade security fence encloses the useable site area.
We understand from the 1999 planning consent that the property can be used for uses falling under the B1, B2 and B8 of the Use Classes Order 1987 and, therefore, permitting light industrial, general industrial and distribution uses. D2 planning consent has also been obtained.
Broadley Park Road is situated off the A386 Tavistock Road, one of the main arterial routes between north and south Devon. The A38 Devon Expressway provides connections -to the wider road network including the M5.Broadley Park Road is situated off the A386 Tavistock Road
approximately 6 miles north of Plymouth city centre which is one of the main arterial routes. The A38 Devon Expressway, which is 4 miles to the south provides connections to the wider road network including the M5. Notable occupiers include Rittal CSM, Becton Dickinson, Burts Crisps and Toshiba carrier.