Property photos
£260,000
(£174.26/sq. ft)
Property for sale
Modbury Court, 32 Church Street, Modbury, Ivybridge, Devon PL211,492 sq. ft
Local area information
Property location
Nearby amenities
- Modbury Primary School 0.1 miles
- Ermington Primary School 1.5 miles
- Ivybridge 3.1 miles
- Cockleridge Ham Ferry Landing 4.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Attractive town in the South Hams
- Multi let retail investment
- Rental income of £18,063 pa
- Potential to increase to £21,209.40 pa once fully let
- Niy - 6.76%. Reversion to 7.94% once fully let.
- Some longstanding tenants (15+ years)
An attractive courtyard of 6 ground floor lock-up shops/offices set around a pleasant courtyard. Each shop has its own electricity supply, single glazed windows and flooring. There is a communal store room as well as a waiting area and toilet facilities. Unit 2 is currently vacant, but negotiations are underway for a new lease.
On the first floor are 3 x 3 bed flats which have been sold off on long leasehold interests. As the residential is more than 50% of the property, a Section 5 notice has been served to the tenants with none of them opting to purchase.
Location
Situated in the heart of Modbury, a picturesque Georgian town in the heart of the South Hams, 12 miles east of Plymouth and 6 miles from Kingsbridge.
The property occupies a prominent location in the centre of the town where there is a range of national and local occupiers. There is on street car parking as well as public pay and display car parks near by.
Accommodation
All areas are approximate and have been provided from the landlord's floor plans. Please see the tenancy schedule.
Rent / Price
£260,000
Service Charge
A service charge is levied for the upkeep and maintenance of the communal areas. Please enquire for further information.
Business Rates
Occupiers may be eligible for Small Business Rates Relief if this is the only property they occupy and/or any other properties they occupy have a rateable value of less than £2,900 each.
Qualifying ratepayers will pay no rates on properties with rateable values up to £12,000 with a tapered relief of between 100% and 0% for properties with rateable values between £12,001 and £15,000.
Interested parties are advised to confirm the rating liability with South Hams District Council.
Services
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.
EPC
Please see the Tenancy Schedule.
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property has not been elected for VAT and therefore VAT will not be charged on the price.
On the first floor are 3 x 3 bed flats which have been sold off on long leasehold interests. As the residential is more than 50% of the property, a Section 5 notice has been served to the tenants with none of them opting to purchase.
Location
Situated in the heart of Modbury, a picturesque Georgian town in the heart of the South Hams, 12 miles east of Plymouth and 6 miles from Kingsbridge.
The property occupies a prominent location in the centre of the town where there is a range of national and local occupiers. There is on street car parking as well as public pay and display car parks near by.
Accommodation
All areas are approximate and have been provided from the landlord's floor plans. Please see the tenancy schedule.
Rent / Price
£260,000
Service Charge
A service charge is levied for the upkeep and maintenance of the communal areas. Please enquire for further information.
Business Rates
Occupiers may be eligible for Small Business Rates Relief if this is the only property they occupy and/or any other properties they occupy have a rateable value of less than £2,900 each.
Qualifying ratepayers will pay no rates on properties with rateable values up to £12,000 with a tapered relief of between 100% and 0% for properties with rateable values between £12,001 and £15,000.
Interested parties are advised to confirm the rating liability with South Hams District Council.
Services
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.
EPC
Please see the Tenancy Schedule.
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property has not been elected for VAT and therefore VAT will not be charged on the price.
More information
Listed by
Vickery Holman Property Consultants
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