Exciting development / investment opportunity on the market in Newton Abbot

Published on: 29th January 2019

Sherborne House, a 36,000 sq ft office building in the centre of the popular Devon market town of Newton Abbot is being brought to market by Sanderson Weatherall jointly with JLL.

The building comprises a former job centre, split across four floors. The second floor is let to Devon Partnership NHS trust, until November 2026, paying a rent of £98,000 per annum whilst the remainder of the property is offered with vacant possession.

Sherborne House is ideally located on the northern edge of the town’s prime retail centre and close to the bus station, market hall, market square and main shopping centre, Market Walk.

Investment partner, David Ferris commented, “This is a unique opportunity to purchase a development / investment property of this quality in this region. The offices provide good quality accommodation that offers potential either for re-letting vacant space for office use or for conversion to hotel, residential or care use.”

Offers are being invited for the property in the region of £2.75million and any interested parties should contact David on 0117 338 1817 or Andrew Pearce, JLL at 01392 429 302.

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Agency - sales & lettings

Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers. Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location. We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction. We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.   Contact Us

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Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers.

Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location.

We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction.

We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.

 

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[metadesc] => Sanderson Weatherall is the market leader in commercial property agency, including sales and lettings across a range of sectors. 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Prime investment opportunity on the market in Bradford

A high specification trade counter investment is being offered for sale in Bradford. The property is let in its entirety to Selco Trade Centres Ltd (T/A Selco Builders Warehouse and Plumbase) on a 25 year lease from 10th September 2008 with a rental guarantee from Grafton Group (UK) PLC. Occupying a highly prominent position on major link Road, Tong Street, the property comprises two modern trade counter units measuring over 48,000 sq ft GIA.

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A high specification trade counter investment is being offered for sale in Bradford. The property is let in its entirety to Selco Trade Centres Ltd (T/A Selco Builders Warehouse and Plumbase) on a 25 year lease from 10th September 2008 with a rental guarantee from Grafton Group (UK) PLC.

Occupying a highly prominent position on major link Road, Tong Street, the property comprises two modern trade counter units measuring over 48,000 sq ft GIA.

[fulltext] =>

Selco occupy the larger of the two units, utilising the space as a builder’s warehouse for trade purposes and the second unit is occupied by Plumbase for use as a plumber’s merchant showroom.

Jonathon White, industrial agent in our Leeds office commented, “This fantastic trade counter investment represents an incredibly rare opportunity with over 14 years remaining on the lease and a PLC guarantee.

“Bradford is an incredibly well-connected city within the central core of West Yorkshire and the subject property takes advantage of this, located on Tong Street, a busy road link within 2 miles of the city centre.

The investment, with a passing rent of £320,756 per annum, is being offered for sale by our Leeds industrial agency team, who are seeking offers over £5,500,000, subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive 5.47% NIY.

For further information you can view the property listing here or contact Jonathon on 0113 221 6141.

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Prime investment sold on Exeter High Street

Acting on behalf of Rollings Investments Ltd, our investment agency team has recently sold 228 High Street Exeter, a mixed retail and office investment. The three storey 7,646 sq ft property, which is located at the junction of the High Street and Gandy Street, was sold for £1.65million to Cooper Estates.

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Acting on behalf of Rollings Investments Ltd, our investment agency team has recently sold 228 High Street Exeter, a mixed retail and office investment.

The three storey 7,646 sq ft property, which is located at the junction of the High Street and Gandy Street, was sold for £1.65million to Cooper Estates.

[fulltext] =>

Located opposite House of Fraser and midway between the Princesshay and Guildhall Shopping Centres in the prime retail destination with a number of national and independent retailers located nearby.

The property comprises a retail unit on the ground floor with offices on the first and second floors and is let to the Co-operative Bank. The tenants are not currently in occupation and the lease expires in March 2019 which provides an excellent opportunity for redevelopment for offices or residential development of the upper floors.

David Ferris, partner in our capital markets team commented, “Following a long-standing relationship with Rollings Investments we are pleased to have completed the sale of this city centre investment on their behalf. 

“The demand for retail space in the prime section of Exeter High Street, between the 530,000 sq ft Princesshay Shopping Centre and the Guildhall Shopping Centre remains strong in spite of the travails of the retail sector in 2018 and the sale provides Cooper Estates with a number of asset management opportunities.”

The purchasers were represented by AHBN.

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[feed_summary] => 0 [feed_show_readmore] => 0 [show_page_heading] => 1 [layout_type] => blog [menu_text] => 1 [page_title] => Latest News and Insight on the UK Commercial Property Market | Sanderson Weatherall [page_heading] => Latest News [menu-meta_description] => News, industry insight and features on the UK Commercial Property Market from Award Winning Property Consultancy Sanderson Weatherall [secure] => 0 [page_description] => [page_rights] => [robots] => [access-view] => 1 ) [initialized:protected] => 1 [separator] => . ) ) URL: /news/8-latest-news/1655-prime-investment-sold-on-exeter-high-street?layout=default&breadcrumb=noimage

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