6 Richmond Walk
Plymouth
Devon
PL1 4LL

Freehold Builders Merchant and Motor Trade Investment with Development Potential (1)

  • Warehouse, Office and Motor Trade Units of 14,599 sq ft
  • Majority let to SIG Trading Limited
  • Site area of 0.77 Acres
  • 1 mile from Plymouth City Centre and 1.5 miles from Plymouth Rail Station close to Mayflower Marina
  • Neighbouring occupiers include Jewson, Malvern Tyres and a number of local traders
  • VAT-free Investment
  • Lot
    23
  • Auction
    23/Sep/2020
  • Rent
    £63,220 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    Industrial/Warehouse
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 6 Richmond Walk<br>Plymouth<br>Devon<br>PL1 4LL
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
1 mile from Plymouth City Centre
7 miles south-west of Dartmoor National Park
40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation

The property is prominently located just 1 mile from Plymouth City Centre and approximately 1.5 miles from Plymouth Train station in a mixed trade and residential area adjacent to Mayflower Marina. The property is situated on Richmond Walk close to its junction with the A374 Devonport Hill/Stonehouse Bridge. Nearby occupiers include Jewson, Malvern Tyres and a number of local traders.

Tenure

Freehold.

Description

The property comprises two ground floor warehouse units and an office building over ground and first floors. A shared yard and entrance to Richmond Walk. The total site area is 0.77 Acres

VAT

VAT is not applicable to this lot.

Planning

(1) The site may benefit from future redevelopment to residential use, subject to all necessary consents/permissions and current tenancies Interested Parties are referred to Plymouth Borough Council (www.plymouth.gov.uk)

Completion Period

Six Week Completion

EPC

See legal Pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(Reversion)
Ground
First
Ground
Office
Office
Warehouse
91.76 sq m
94.72 sq m
833.13 sq m
(987 sq ft)
(1,019 sq ft)
(8,968 sq ft)
SIG TRADING
LIMITED (2)
12 years from
23/12/2010 expiring
22/12/2022
£49,220(22/12/2022)
GroundMotor Trade336.60 sq m(3,623 sq ft)WEST HOE
GARAGE
LIMITED
10 years from
01/07/2016 expiring
30/06/2026 (3)
30/06/2026 (3)£14,0001/07/2021(30/06/2026)(3)
Total
1,356 sq m
(14,599 sq ft)
  £63,220 

(2) For the year ending 31st December 2018, SIG Trading Limited reported a turnover of 1,112,000,000, a pre-tax profit of 2,000,000 and shareholder funds of 260,000,000 (Source: SmartSearch 05/08/2020). SIG trades from 425 trading sites across the UK and Ireland and Mainland Europe. (Source: www.sigplc.com)
(3) The lease provides for a mutual option to determine on 22/12/2022 upon 6 months notice.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    739 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    649 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Machins Solicitors LLP Victoria Street
Luton
Bedfordshire
LU1 2 BS
Jon Alvarez 01582 514 310jon.alvarez@machins.co.uk

Useful Links

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