- Seller ref: 3933
- Listing ID: 191220
Flats For Sale West Hoe Surgery, Pier Street, Plymouth, Devon, PL1 3BY
- 5,328 sq ft
- For Sale
- 5,328 sq ft / 495 sq m
- Sale Type:
- For Sale
- Rental Income:
- Property Type:
- Development Opportunity:
- Investment Opportunity:
- Energy Rating:
The property is located on the corner of Pier Street and Cliff Road. The property can be accessed from a number of roads which connect to The Crescent and in turn to the A38 or A386 which provide access out of the city.
The property comprises of a doctors surgery on the ground and first floors. There are 12 car parking spaces included with the doctors surgery. On the second and third floors there are 6 x 2 bedroom flats which have a separate self-contained access.
The property is currently under construction, with completion due in early 2019.
Britain's Ocean City nestles in an area of outstanding natural beauty, with the Dartmoor National Park to the north, whilst the natural harbour of Plymouth Sound creates the southern border with the rivers Plym and Tamar on either side.
Plymouth is the second largest city on the south coast of England and after Bristol, the largest in the south west with a resident population of 262,700. There are a further 100,000 in its travel-to-work area. The City has an economic output of £5.2 billion and 107,000 jobs and it plans to get bigger by growing its population to 300,000 and expanding its economy.
Plymouth is renowned for its maritime history, which includes Drake and the Pilgrim Fathers. 2020 marks the 400th anniversary of the sailing of the Mayflower from Plymouth UK to Plymouth Massachusetts.
The marine industry sector is extremely important in the city, with 300 firms employing around 13,600 people. Plymouth University is one of the largest centres for marine excellence in Europe.
Devonport is the largest naval base in Western Europe and has been supporting the Royal Navy since 1691. It is the UK's main location for deep maintenance of surface and submarine vessels and generates around 10% of Plymouth's income.
The city has excellent road connections with the A38 providing access west to Cornwall and east to the national motorway network at Junction 31 of the M5 motorway at Exeter.
Plymouth's mainline railway station provides regular services to London Paddington of just over 3 hours. There are also other direct services to Bristol, the Midlands, the North, Scotland and South Wales. Exeter Airport is approximately 50 miles away and Newquay airport is approximately 45 miles away.
For sale for £1,960,000 (One million nine hundred and seventy thousand pounds) reflecting a net initial yield of 4.69% (assuming purchasers costs of 5.9%).
Newly built doctors surgery
25 year lease
Rent of £97,600 per annum
6 flats sold on long leases
Freehold for sale
£1,960,000 reflecting a net initial yield of 4.69% assuming purchasers costs of 5.9%
* Newly built doctors surgery
* 25 year lease
* Rent of £97,600 per annum
* 6 flats sold on long leases
* Freehold for sale
* £1,960,000 reflecting a net initial yield of 4.69% assuming purchasers costs of 5.9%