39 Mutley Plain 4,800 SF 100% Leased Retail Building Plymouth PL4 6JQ $971,677 CAD ($202.43 CAD/SF)

This impressive commercial and residential investment property occupies a prime trading position in Mutley Plain, one of Plymouth’s busy secondary shopping thoroughfares, located within half a mile of the main city centre and Plymouth’s expanding university campus. Mutley Plain has numerous retailers represented within it including Tesco, Sainsburys, Wetherspoons, Kentucky Fried Chicken, Dominos etc. There is also a varied selection of local retail concerns represented nearby, as well as numerous office premises and professional concerns such as estate agents, surveyors, mortgage brokers, solicitors etc. Mutley Plain generates a consistent year-round custom with both locals and students. The area is serviced by a large public car park.
Plymouth, with a population of over 264,000 is the largest city in the West Country. Largely rebuilt since World War II it is now a thriving industrial and commercial centre and is still one of the Royal Navy's principal base and warship repair dockyards. The city has excellent educational, recreational and entertainment facilities and access to the rest of the country is gained by road via the A38/M5 motorway and by rail. Europe is also accessible by car/passenger ferry which is operated from its terminal at Millbay Docks.
The premises are terraced and appear to be of traditional construction with rendered and painted elevations under a pitched slate roof, with some more modern flat roof extension to the rear. The property has been well maintained and briefly comprises a self-contained restaurant with large basement storage area to the ground and lower ground floors, together with four self-contained flats to the upper floors.
The restaurant is subject to a commercial lease and currently operates as a successful and popular Indian restaurant. The flats are subject to standard six month Assured Shorthold Tenancy agreements. One of the letting units has just been vacated and is just in the process of being redecorated with a view to being relet, having previously generated a rental of £525pcm. The residential units have excellent occupancy levels and, when fully let, the Gross Rental Income is approximately £51,000 per annum.