15 Sutton Rd 18,095 SF Industrial Building Plymouth PL4 0HN $2,611,526 ($144.32/SF)

We are instructed to seek offers of £1,950,000 (One million nine hundred and fifty thousand Pounds) subject to contract and exclusive VAT, reflecting a Net Initial Yield of 7.36% (assuming purchaser’s costs of 6.26%). This equates to a capital value of only £82.61 per sq ft. Tenure: freehold.
The property produces a current passing rent of £152,500 per annum, which equates to a low base rent of only £7.65 per sqft.
The property comprises three, terraced industrial units of steel po rtal frame construction with steel profile clad elevations beneath pitched clad roofs. The units are accessed from Sutton Road.
Internally, the units have the following specification:
- Blockwork walls
- Eaves height of 6m
- Concrete floors
- Pitched profile metal sheet roof with 10% roof lights
- Parking to the front and side of the units
- Ancillary office and trade counter accommodation
- Access via roller shutter doors
- Landlord Mezzanine’s within Units 1 &2
Externally, there is customer parking to the front of the units with approximately eight spaces and further spaces alongside Sutton Road. To the eastern end of the site is a secure, open storage area that is part tarmac, part concrete surfaced. This area was previously in separate occupation, with access provided through to Sutton Road. Hire Station Ltd have expanded to also occupy this yard space.
The property provides a total of 18,095 sq ft (GIA) of industrial accommodation over Units 1-3 and the additional usable yard area of 23,726 sq ft. The three industrial units vary in unit size from 4315sq ft-8773 sq ft GIA.
The site extends to approximately 1.5 acres (0.607 hectares). This gives a very low site coverage of only 22.5% overall. The property has potential for future development of the rear yard for industrial or alternative uses subject to planning.