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Pennygillam Way - Pennygillam Industrial Estate 10,808 - 25,535 SF Industrial Condo Units Offered at $924,056 - $1,254,076 Per Unit in Launceston PL15 7ED



Investment Highlights
- 4No. Plots available from £625,000
- Prominently located and Close to A30
- Redevelopment/change of use potential
Executive Summary
Approximately 1.90 acre (site and buildings)running parallel to Pennnygillam Way with numerous connected warehouses, a 2 storey office block and a cabin set within. The remainder of the site is currently vacant. Plots 1 and 4 at either end of the site are sold subject to contract. There will be new entrances installed at each end of the site to replace those that will be lost in the sales of Plot 1 and 4 (plans available upon request). The site has significant development/refurbishment potential and could be suitable for various uses (subject to planning).
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment or Owner User | Tenure | Freehold |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
Description
Approximately 1.90 acre (site and buildings) running parallel to Pennnygillam Way with numerous connected warehouses, a 2 storey office block and a cabin set within. The remainder of the site is currently vacant. Plots 1 and 4 at either end of the site are sold subject to contract. There will be new entrances installed at each end of the site to replace those that will be lost in the sales of Plot 1 and 4 (plans available upon request). The site has significant development/refurbishment potential and could be suitable for various uses (subject to planning).
Sale Notes
The entire freehold is available for sale or with the option to be purchased in separate plots. Plot 2 is available for purchase with a guide price of £950,000.
| Sale Type | Investment or Owner User | Tenure | Freehold |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
Description
Martins Cash & Carry is accessible from 4.No. vehicular entrances off Pennygillam Way, which is the primary road through the estate with a busy flow of passing
traffic. The site is mostly vacant although British Wool occupy Well Warehouse to the west on a contracted out 3 year lease which commenced on the 1st of May
2024 (see the previous and the next page for details). The warehouse buildings are generally of steel frame and concrete block wall construction with asbestos
cement sheet roof and wall cladding (some wall faces are rendered). The office building is clad in red brick. Site plans and indicative floor plans are available upon
request or can be downloaded from our website. An asbestos survey is available upon request.
traffic. The site is mostly vacant although British Wool occupy Well Warehouse to the west on a contracted out 3 year lease which commenced on the 1st of May
2024 (see the previous and the next page for details). The warehouse buildings are generally of steel frame and concrete block wall construction with asbestos
cement sheet roof and wall cladding (some wall faces are rendered). The office building is clad in red brick. Site plans and indicative floor plans are available upon
request or can be downloaded from our website. An asbestos survey is available upon request.
Sale Notes
The entire freehold is available for sale or with the option to be purchased in separate plots. Plot 3 is available for purchase with a guide price of £700,000.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Plot 2 | 10,808 SF | Industrial | $1,254,076 ($116.03/SF) | - |
| Unit Plot 3 | 25,535 SF | Industrial | $924,056 ($36.19/SF) | - |
Unit Plot 2
| Unit Size |
| 10,808 SF |
| Condo Use |
| Industrial |
| Price |
| $1,254,076 ($116.03/SF) |
| NOI |
| - |
Unit Plot 3
| Unit Size |
| 25,535 SF |
| Condo Use |
| Industrial |
| Price |
| $924,056 ($36.19/SF) |
| NOI |
| - |
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Unit Plot 2
| Unit Size | 10,808 SF |
| Condo Use | Industrial |
| Price | $1,254,076 ($116.03/SF) |
| NOI | - |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
| Description | |
| Approximately 1.90 acre (site and buildings) running parallel to Pennnygillam Way with numerous connected warehouses, a 2 storey office block and a cabin set within. The remainder of the site is currently vacant. Plots 1 and 4 at either end of the site are sold subject to contract. There will be new entrances installed at each end of the site to replace those that will be lost in the sales of Plot 1 and 4 (plans available upon request). The site has significant development/refurbishment potential and could be suitable for various uses (subject to planning).</li></ul> | |
| Sale Notes | |
| The entire freehold is available for sale or with the option to be purchased in separate plots. Plot 2 is available for purchase with a guide price of £950,000.</li></ul> |
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Matterport 3D Exterior
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Map
Unit Plot 3
| Unit Size | 25,535 SF |
| Condo Use | Industrial |
| Price | $924,056 ($36.19/SF) |
| NOI | - |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
| Description | |
| Martins Cash & Carry is accessible from 4.No. vehicular entrances off Pennygillam Way, which is the primary road through the estate with a busy flow of passing<br> traffic. The site is mostly vacant although British Wool occupy Well Warehouse to the west on a contracted out 3 year lease which commenced on the 1st of May<br> 2024 (see the previous and the next page for details). The warehouse buildings are generally of steel frame and concrete block wall construction with asbestos<br> cement sheet roof and wall cladding (some wall faces are rendered). The office building is clad in red brick. Site plans and indicative floor plans are available upon<br> request or can be downloaded from our website. An asbestos survey is available upon request.</li></ul> | |
| Sale Notes | |
| The entire freehold is available for sale or with the option to be purchased in separate plots. Plot 3 is available for purchase with a guide price of £700,000.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 47,990 SF | Typical Floor Size | 40,956 SF |
| Property Type | Industrial | Year Built | 1980 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | B | Lot Size | 1.88 AC |
| Floors | 2 |
| Total Building Size | 47,990 SF |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 40,956 SF |
| Year Built | 1980 |
| Tenancy | Single |
| Lot Size | 1.88 AC |
Amenities
- Energy Performance Rating - C
- Automatic Blinds
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Pennygillam Way - Pennygillam Industrial Estate
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