Under Offer£210,000 for the Leasehold
23 Mayflower Street
Plymouth, Devon PL1 1QJ
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 £210,000 would represent a yield of 7.68%.
Plumer House Tailyour Road, Crownhill Plymouth PL6 5DH
These particulars are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or partner of Bruton Knowles has authority to make or give any representation or warranty in relation to the property.
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