3 bed light industrial for sale

Church Street, Modbury, Ivybridge PL21

Situation

Modbury is a picturesque Georgian town situated in an 'Area of Outstanding Natural Beauty', and is only about 4 miles from the nearest beach. Some two hundred years ago it was extremely prosperous being the local market town and a centre for the wool trade. Today there is a good range of local shops including a butcher, baker, grocers, chemist, delicatessen and a number of gift and antique shops.

Other amenities include a primary school, health centre, dentist, veterinary surgery, mobile library and bank. For more comprehensive shopping, Kingsbridge is to the South and Plymouth is about 12 miles to the West. Modbury is on the main bus route and is also only about five miles from the A38. Nearby there are fine cliff top and coastal walks, other beaches and coves, with sailing at Salcombe and Newton Ferrers, 18 hole golf courses at Thurlestone and Bigbury and Dartmoor National Park is several miles to the North.

Description

8 Church Street is an exciting opportunity to acquire a substantial investment in the heart of Modbury with a prominent position and commercial unit on Modbury high street. The property is currently split into two well-presented residential units and ground floor retail unit currently trading as a hair salon, all being sold with tenants in situ. Rental income figures are available.

The ground floor is currently run as a hairdresser and offers a spacious retail space with bay windows facing the high street in Modbury, there is a small kitchenette area, storage, WC and door to the side access.

Both residential units have separate access at the side of the property with communal entrance hall and stairs to the apartments. Character features have been retained throughout the Grade II Listed property and the building has been well-maintained.

On the first floor is a one-bedroom apartment with sash windows to the front aspect from the living room and bedroom, there is a kitchen with integrated appliances and ample storage, shower room and spacious entrance hall.

The second floor offers a large maisonette which has recently been modernised whilst retaining an abundance of character features. This dwelling comprises entrance hall, spacious living room, modern kitchen and bathroom on the first floor, the second floor is home to two double bedrooms with vaulted ceilings and lovely views.

Services

Mains electricity, water and drainage.

Rates & council tax

Flat 1 - tbc
Flat 2 - Council Tax Band A
Commercial unit - The premises are listed on the voa website as having a Rateable Value of £10,000 with effect from April 1st 2023.

Lease

This property is offered for sale freehold subject to the current tenancies of the two residential units and commercial unit. The current gross rent is £25,800 per annum with a yield of 7.65%. Rental income figures are available.

Viewings

Viewing strictly by appointment with Luscombe Maye .

Local authority

South Hams District Council, Follaton House, Plymouth Road, Totnes TQ9 5NE. Tel: