Overview
- Industrial
- 9447
Description
Location
The property comprises of an industrial unit with roller shutter access to the front. There are two mezzanines at either end of the building, providing additional storage space. To the front of the property there is an office/reception area and toilet facilities. The tenant's have also added a conservatory structure which provides a kitchen/breakout area. To the front of the property there is parking and loading space.
Location
Lee Mill Industrial Estate is located near Ivybridge in Devon. It has convenient access to the A38, which serves as a major route connecting the M5 motorway (near Exeter) to the city of Plymouth and Cornwall beyond.
The property is located on East Way which is accessed from Central Avenue - one of the main estate roads.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) on a gross internal basis.
Ground floor - 683.2 sq m (7,354 sq ft)
Mezzanines - 194.4 sq m (2,092 sq ft)
Total - 877.6 sq m (9,447 sq ft)
Rent / Price
£650,000
Business Rates
From the Valuation Office Agency website (www.voa.gov.uk) we understand that the current Rateable Value is £35,750. Therefore making the approximate Rates Payable £17,839 per annum for 2025/26.
Contact our team of business rates experts if you have a query about the rateable value of this property.
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
E (116)
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property is not registered for VAT and therefore VAT is not chargeable on the price.
Summary
Key points
- Industrial investment
- Popular Lee Mill Industrial Estate
- Long term tenant
- Passing rent only £5.22 psf - therefore reversionary
- Tenant Experian score of 94
- £650,000
- NIY - 6.14% assuming purchasers costs of 5.18%
Contact
Vickery Holman Limited
Tel: 07525 984443
Joanne High
jhigh@vickeryholman.com
Vickery Holman Limited
Tel: 07841 150716
Carys Makelis
cmakelis@vickeryholman.com
EPC
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