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251-257 Ridgeway, Plympton 2 Retail Properties Offered at £2,300,000 in Plymouth
Investment Highlights
- Secure Reversionary Roadside & Warehouse Investment
- Let to established covenants of Motor Fuel Ltd and Vertu Motors (Property) Ltd until 2033/34 respectively
- Low base rent of only £5.26ft overall on the showroom element (40% discount to prime levels)
- Located 5 miles north east of Plymouth in Plympton
- Rental income of £161,898 per annum exclusive
- Guaranteed uplift in 06/28 on the Motor Fuel Ltd lease
Executive Summary
We are instructed to seek offers of £2,300,000 (Two Million Three Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level based upon purchasers’ costs at 6.34% reflects the following yield profile:
Net Initial Yield of 6.62%
Yield in 06/2028 of 7.09% post fixed increase
Reversionary yield in 09/2029 of 9.27%
A purchase at this level based upon purchasers’ costs at 6.34% reflects the following yield profile:
Net Initial Yield of 6.62%
Yield in 06/2028 of 7.09% post fixed increase
Reversionary yield in 09/2029 of 9.27%
Property Facts
| Price | £2,300,000 | Number of Properties | 2 |
| Price psf | £139.83 / sq ft | Individually For Sale | 0 |
| Yield | 6.62% | Total Property Size | 16,448 sq ft |
| Sale Type | Investment | Total Land Area | 1.82 ac |
| Status | Active |
| Price | £2,300,000 |
| Price psf | £139.83 / sq ft |
| Yield | 6.62% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Property Size | 16,448 sq ft |
| Total Land Area | 1.82 ac |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Chaddlewood Garages
Ridgeway, Plymouth PL7 1AJ |
Retail | 14,261 sq ft | 1987 | - |
| 257 Ridgeway, Plymouth PL7 1AJ | Retail | 2,187 sq ft | 1980 | - |
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251-257 Ridgeway, Plympton
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