Acting on behalf of a private investor, Monk & Partners negotiated the sale of the freehold multi-let Trade Counter Investment known as Valley Court at 41 Valley Road, Plympton, one of Plymouth’s well established and most popular trade counter locations.
Comprising a row of 4 industrial/trade counter units totalling about 12,400 sq ft and built in 2006, the block is let to an impressive list of tenants including GSF Car Parts, Eurocell Plastics, TPS Car Parts and Role 1 Medical (a local private Ambulance company).
With a current income of just over £107,000 p.a. the investment was sold off an asking price of £1.5M (circa 6.75% NIY).
Commercial property director at Monk & Partners, John Slade commented “well let industrial/trade counter investments are scarce at present and prices remain strong for any stock coming to the market. Terms were agreed quickly and the sale completed within a month of instructing solicitors.
We acted for the original owners/developers of the property from construction through to eventual sale having let the four units in 2006/07 and then reviewed and renewed leases during the period with three of the four original tenants remaining.
The property has been extremely well maintained during my clients ownership and I believe will prove to be an extremely good investment for the purchaser going forward.”
Monk & Partners are also now marketing a smaller trade counter investment in Saltash again with a good line up of tenants where interest is also proving strong.
