Petrol Stations for sale in Ivybridge, UK

Commercial Property in Ivybridge available for sale

Retail Properties for Sale Near the Ivybridge, UK

23 Fore St

Ivybridge, PL21 9AB

Retail for Sale
£175,000
592 sq ft

Ivybridge Retail for Sale

Freehold, guide price £175,000 – £200,000. The premises are end-of-terrace and briefl ycomprise a self-contained takeaway unit to the ground floor, together with a spacious 2/3-bedroom flat to the upper floors. This impressive mixed commercial and residential investment property occupies a prime trading position in the main Fore Street of the popular and expanding South Devon town of Ivybridge. There is a full and varied selection of businesses represented nearby, all of which are serviced by a large public car park. The ground floor operates as a well-established and successful pizza business. It is currently subject to a 10-year commercial lease at a current passing rent of £9,000 per annum, exclusive of rates, subject to rent reviews every third year with the tenant responsible for the standard repairing and insuring covenants. We understand that a rent review is imminent, and it is anticipated that there will be an uplift in the current passing rent. For more details, please contact the agents. The flat is self-contained and up until recently was let on a six-month AST agreement at a rental of £750 per calendar month. It is felt that both rental levels are reasonably modest, and that when FULLY LET, the unit can generate an annual rental of approx. £18,000. An ideal opportunity to acquire a valuable mixed investment premises in a prime town centre location, capable of generating a strong annual rental.