Agents Monk & Partners are pleased to announce the letting of an industrial unit off Sutton Road, Coxside, Plymouth.
Having received the instruction and placed the property on our website last week, a viewing ensued on Monday morning and the tenant signed the lease and took occupation today, just 4 days later.
The unit having a floor area of just under 1000 sq ft has been leased to Skyline Recovery for a term of 3 years.
John Slade of Monk & Partners comments: “It is pretty unusual to transact properties this quickly but this proves it can be done.
This letting is further evidence that there is still plenty of demand for industrial units but a distinct lack of availability particularly for vehicle repair related trades.”
RETAIL LETTING - 51 Mutley Plain, Plymouth.
Local property investors who recently acquired the freehold of 51 Mutley Plain, an end terraced shop with residential upper parts and were advised on the acquisition and subsequent letting Plymouth commercial property agents Monk & Partners.
The property was formerly occupied by Boots Pharmacy prior to their move to larger premises three doors along this vibrant street.
Monk & Partners have subsequently relet the ground floor and basement of the property to a local Artisan bakery and café user who has obtained planning permission for their use and are currently undergoing a substantial internal refit.
The upper parts have now been approved to convert into two self contained flats and the refurbishment of those is about to start with a view to completion in July.
Agent John Slade from Monk & Partners comments, this property along with other shops have been available To Let for a considerable time but as can be seen from recent activity on Mutley plain, the vacant units are beginning to spring back into life with the recent opening of Starbucks, relocation of Dominos Pizza, Consol and other units currently being under offer.
Another Successful Sale by Monk & Partners on the Former Church Sale.
Acting on behalf of SW Baptist Association, Plymouth commercial property agents, Monk & Partners have sold the Former Ford Baptist Church in Alfred Road, in the Plymouth district of Ford.
The premises have been sold to a local property developer for conversion to circa 10 flats which will prove a welcome enhancement to the street with the property having become dilapidated and unused.
Property agent John Slade commented, we initially offered this interesting looking property having a mix of architectural styles to the market in 2016 only for the sale to falter and the property was withdrawn.
The subsequent conditional sale was agreed with the developers and after a lengthy planning process they achieved the required permission to convert the property.
The building works are now under way with a view to bringing the flats to the market in 2020.
We are delighted to announce that Gareth Forrest has joined the firm. Gareth is well known within the Plymouth property market having been a specialist estate agent in Plymouth since 2003 and most recently a director of Lang Town & Country. Gareth joins the team to progress his career by undertaking the RICS Chartered Surveying assessments and we hope to have him fully qualified next year.
Gareth says ‘I am delighted to have the opportunity to develop my career with Monk & Partners and he brings with him a wealth of knowledge of the residential property market and waterfront developments.
‘Thank you for your comprehensive Report and accompanying photographs. We greatly appreciate your thorough approach and clear explanations, and your level of detail.’ - Mr R T (March 2018)Written by Jodie Macmillan
Acting for Westward Housing Group and NHS, Monk and Partners with sub agents Simon Milnes Estate Agents(Truro) have sold the freehold interest in a detached period property on the edge of Truro City Centre, namely Chy Colom, Agar Rd, Truro. Formerly used for the provision of supported living, this three storey property provided 10 bedrooms and ancillary accommodation but was in need of refurbishment and was offered for sale off an asking price of £525,000. The property was offered to the commercial and residential markets being considered suitable for a range of uses. A sale was agreed to private investors for a change of use to a private residence.
Acting on behalf of NOS 2 Ltd, Monk and Partners have sold the freehold investment property 52/56 Embankment Rd, Plymouth which comprises a two storey building arranged as two ground floor shops let to Bet Fred, Bookmakers and a Polish supermarket/delicatessen together with a vacant basement workshop/warehouse formerly used as a cash and carry among other uses.
At the time of the sale the property was producing a rental of £26,000 p.a.x. and was sold off an asking price of £300,000.
Stratton Creber represented the purchasers.
Monk & Partners have subsequently let the lower ground floor of about 270 sq m (2900 sq ft) to a leisure operator who has gained planning permission for a gym use.
National retail shop investors, NOS 4 LTD have sold, through local commercial property agents Monk & Partners, Eastgate House, 1 East St, Okehampton.
John Slade of Monk & Partners said, “we were instructed to market a portfolio of mixed retail and residential investment properties in the town with the subject property being sold to a private investor. A number of enquiries were received for the various properties and the subject property comprising a ground floor shop leased and occupied by Bradleys Estate Agents with two long leasehold flats above was sold off an asking price of £125,000 for the freehold.''
Of the portfolio of four, one property was previously sold at auction and another is currently under offer. The last remaining unit is now vacant and is remains available off an asking price of £60,000 (STC) for a lock up shop unit.
Commercial property letting agents Monk & Partners have secured a letting of units 5 and 6 Marjorie Court to Bearing Options Ltd. Located on the established and popular Saltash Parkway estate, the units were constructed in 2008 and comprise a terrace of 4 units suited ideally to smaller businesses.
Having been instructed by the private owners, following two previous tenants simultaneously vacating, the agents identified the new tenant who were looking to relocate from smaller premises elsewhere in the town.
The units had a floor area of circa 500 sq ft each with partial mezzanines above and a rental of £10,000 p.a.x. was sought.
A new lease of the pair of units was agreed for a term of 6 years.
John Slade of Monk & Partners stated ”these units have always proved popular to the smaller or start up business. Since their construction in 2008 we have been instructed to let them at different times and each time voids are short lived due in part to the quality of the units, the landlord being flexible on the lease term granted and also the added benefit that business rates are nil in the current regime. Furthermore the units are located adjacent to the A38 providing easy access to the rest of Cornwall and the Tamar crossing into Devon, Plymouth and beyond.”
Monk & Partners have secured the letting of a new hybrid industrial and office unit at Darklake Park.
Unit 20 is located at the entrance to this brand new development which was acquired by an investor with the new tenant Healthcare at Home being a relocator from another business park in Plymouth.
The unit has a gross internal floor area of circa 332 sq m (3578 sq ft) over two floors with a generous parking and yard area.
John Slade of Monk & Partners commented, “this unit provided a fairly bespoke layout with 50% offices within. We had a number of parties showing interest in the unit but managed to secure a letting for a term of 10 years on a stepped rental pattern. The Darklake Park scheme has proved to be a very popular new business park providing a range of high quality attractively designed buildings in a range of sizes from circa 60 sq m (650 sq ft) upwards.
Acting on behalf of ETE Ltd and private investors, Monk & Partners have secured 2 lettings of adjacent properties in Barbican Approach and Commercial Rd, Coxside, Plymouth to Enterprise Rent-A-Car.
Plymouth agents Monk & Partners were instructed by the leaseholders of 2 Barbican Approach to find a sub-tenant for the 270 sq m (2900 sq ft) industrial workshop premises and after a fairly long period of marketing and change of use process they secured Enterprise Rent-A-Car for the subject premises. Simultaneously Monk & Partners negotiated lease and rental terms with the same tenant on the adjacent property being circa 380 sq m (4100 sq ft) from different owners to create a joint letting of the two premises. The two properties were formerly occupied by a limousine rental company and Speedy Hire among other users over time. 2 new leases until circa 2030 have been agreed.
John Slade of Monk & Partners commented “ this was one of those unconventional and satisfying deals whereby one premises was insufficient for the acquiring tenants needs and following some investigative endeavours it turned out the adjacent property could also be leased alongside making the two properties large enough for the car rental firm’s needs.''
The properties are located fronting two main routes in Coxside making for a prominent and convenient location for the new tenant to relocate to following some extensive refurbishment and branding for their purposes.
H M Williams Accountants have recently moved into Grade A purpose built offices at Sandy Court on the Langage Business Park, Plympton, according to agent John Slade of Monk and Partners. Previously located in Valley Road, Plympton, the move into the high profile new building will allow the company to grow the full range of accountancy services to businesses located across the South West.
Occupying 3120 square feet Monk and Partners arranged the pre-let of a new build semi-detached office block in the established and popular Sandy Court office campus. The letting also provides H M Williams with option to purchase the Freehold as they have been experiencing a period of growth and needed to relocate into offices that better reflect the needs of the firm.
Being next to the A38 Devon Expressway means easy access for the team to get into work and out to see clients so Langage was the ideal location. Ashley Smith of H M Williams said ‘We are now very excited to be in an office that is better equipped and suits that of a modern and growing professional services firm which will significantly assist with the growth of the company.’
Bruton Knowles represented H M Williams in the negotiation of the lease and future purchase of the building along with advice on the build and fit out.
John Slade of Monk and Partners commented ‘Our client, Greenacre Developments, was pleased to be able to bring another local company to Sandy Court with the construction of this building, the other half of which remains available for sale or to let. Yet to be fitted out internally the adjacent unit offers another 3200 square feet of offices over two floors with parking and could be completed prior to Christmas 2017. The Sandy Court scheme is getting close to capacity now with just two 6000 square foot buildings remaining to be constructed.’