• Size:
    1,224 sq ft / 114 sq m
  • Usage:
  • Sale Type:
    For Sale
  • Rental Income:
  • Property Type:
  • Auction:
  • Development Opportunity:
  • Investment Opportunity:
  • Tenanted:
  • Energy Rating:

The property comprises a mid-terrace, 2 storey building that has been fitted out for the purposes of use by the exiting tenant as a clinic with 2 treatment rooms on the ground floor with reception area, two WCs and a kitchenette. To the first floor is further treatment rooms and a waiting area.

The property is held on a long leasehold interest from Plymouth City Council for a term of 125 years from 25th December 1989 that is subject to a ground rent of 8% of the occupational rent.

The current Tenant has been in occupation for 8 years. Terms have been agreed with them to take a new lease on the following basis.

1. Tenant - Slim Holdings Ltd
2. Term -10 years with Tenant only break clause on the 5th anniversary of the term.
3. Rent - £18,000 pax
4. Rent Review - Four year pattern to open market
3. Repairs and Insurance - Tenant full repairing and Insuring, subject to a Schedule of Condition.

Based upon the net rental income (after the deduction of the annual ground rent) a purchase at £200,000 would represent a yield of 8.28%.

* Long leasehold Investment
* City Centre location
* New 10 year term
* Yield of 8.28%