Freehold Mixed-Use Investment Property in Plymouth

This mixed-use investment opportunity comprises three ground floor retail units and eight en-suite student rooms located on the upper floors. There is a small basement office area which is also let. Off-street parking can be located to the rear of the building. Total GIA approximately 5,304 sq ft (493 sq m). The investment is let at £78,890 p.a. plus a vacant student room, representing a 13.72% gross initial yield on the guide price, with a fully let ERV of £84,610 p.a. The subject premises is located in the busy secondary retailing area of Mutley Plain, Plymouth's northern suburban thoroughfare situated approximately half a mile from Plymouth City Centre. Positioned on the western side of Mutley Plain, the building occupies a prominent location in a prime trading pitch with high visibility to passing vehicular traffic and pedestrians. The area is home to numerous multiple retailers including Tesco, Superdrug, Boots, Costa Coffee, Starbucks, Sainsbury’s, and the Co-op.