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.
Acting on behalf Santander UK plc, Monk & Partners jointly with Core Consult have secured a sub-letting of a former Bank premises at 65 New George St located within Plymouth’s main shopping thoroughfare.
On offer was a 2350 sq ft A2/retail unit with upper parts held on the remainder of a 25 year lease expiring in March 2019 and national employment charity, Tomorrow’s People Trust Ltd, were identified as needing to relocate from Mayflower House, an office building in Plymouth City Centre earmarked for redevelopment as a new student block.
John Slade of Monk and Partners comments “we have let premises to Tomorrow’s People on a couple of occasions in Plymouth following their initial set up in The Crescent and now their need for relocation as the result of their current premises being needed for redevelopment.”
Tomorrows People are engaged in helping disadvantaged adult and young people to get and keep jobs.
“Having identified their need to relocate we offered the former Santander unit in New George Street to them as it was prominent and convenient and ideally suited as a recruitment base for the Charity.”