Property for saleThe Quay, Plymouth Road, Tavistock, Devon PL19
Local area information
- St Rumon's Church of England (VC) Infants School 0.3 miles
- Tavistock Community Primary & Nursery School 0.3 miles
- Gunnislake 3.9 miles
- Calstock 4.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Tavistock to find out more about the area.
Features and description
- Rare Investment Opportunity
- Prominent quality versatile building
- Centrally located in popular Market Town
- 76% of income secured against nhs trust
- Good mix of tenants
- Potential for re-purposing STPP and consents
- Head lease allows for residential use
- Scope for increasing income by letting the vacant suite
The building is currently arranged to provide a self contained ground floor library. The offices benefit from a dedicated communal entrance which provides a stairwell and lift access. There are communal kitchen and toilet facilities. The larger ground floor suite benefits form its own entrance, kitchenette and toilet facility.
Externally, there is a car parking area for 8 cars, along with an ev charging station. Internally the specifications vary from suite to suite, but include a mix of partitioned and open plan spaces, suspended ceilings with recessed LED lights or cat 2 lights and a mix of carpet and laminate floor coverings.
The Quay occupies a prominent and easily accessible location fronting Plymouth Road, one of the main arterial routes into the historic and popular market town of Tavistock.
The property is situated within a desirable mixed-use area, with Abbey Doctors Surgery opposite, and the recently refurbished Meadowlands Leisure Centre which provides a gym, swimming pool and café to the rear.
The bus station is also in very close proximity opposite.
Tavistock is a prosperous market town situated on the western side of Dartmoor and close to the Cornish border. It is connected by the A386 to Plymouth, which is approximately 15 miles to the south. The Town provides a range of amenities and retail offerings including a Pannier Market. It has a population of circa 10,000.
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) on a net internal basis, see the tenancy schedule.
From Nimbus maps we calculate that the red line of the property extends to 0.286 hectares (0.708 acres), and the blue line extends to 0.076 hectares (0.189 acres).
Rent / Price
We are instructed to seek offers off a guide of £890,000 which reflects a net initial yield of 10.07% after an allowance for purchasers costs of 5.62%. This equates to approx. £85 per sq ft (excluding library area) overall. Upon letting of the ground floor suite at the asking rent, there is a potential reversionary yield of 11.86% (after purchasers costs).
A service charge is levied for the upkeep and maintenance of the common parts. Further information available from the agents.
We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
Each party to be responsible for their own legal fees in relation to this transaction.
The property has been elected for VAT and therefore VAT will be charged on the purchase price.
Floor plans and tours
Floor plans (3)
Property descriptions and related information displayed on this page are marketing materials provided by - Vickery Holman Property Consultants. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Vickery Holman Property Consultants for full details and further information.