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tenants creative agency is required, two case
studies completing this week:
Property 1 - Unit 3, The Creation Centre,
Back Quay, Truro. Vacant 2,500 sq ft corner
retail unit, quoting rent £100,000 pax. Market
perception - too expensive. Solution - split
the unit into three separate units. Result - two
units let; one to an international brand and
the other a regional covenant; gross income
of £97,000 pa; interest on remaining unit
from government body at £40,000 pax.
Property 2 - 40 Killigrew Street, Falmouth.
Vacant 650 sq ft corner retail unit (we manage
the block). Problem - too small for most
nationals. Solution - retail unit next door but
one becomes available; deal brokered where
by tenant between the two is relocated to far
unit creating a 'double' unit which is then big
enough to accommodate a 'national'; 20-
year lease agreed to Dominos.
In conclusion, there is no doubt we are
entering a different market, but in my view a
better market and one that personally I am
looking forward to!"
Buckwell House, Plymouth
DEVON
Kingsteignton
far. Internally the building has a mixture of Dial Holdings have invested in industrial
The freehold of Lindridge House is being office finishes with some air-conditioning properties throughout Devon but have
offered for sale by joint agents, Palmer Snell units, part suspended ceilings and central substantial commercial and industrial
Fulfords and Fulfords, at a guide price of heating. holdings in Tiverton. In the last 18 months
£575,000. Ifan Rhys-Jones of King Sturge they have acquired a further 50,000 sq ft of
Set within a rural position surrounded by commented: "In such a prominent location, tenanted accommodation in the town adding
woodland, and yet within 21/2 miles of being a significant link between the Barbican to their existing investment.
Kingsteignton town centre (and 1/2 mile of waterfront and Drake Circus we believe the The buildings and estates that they own
the A380). building has considerable redevelopment in the town are always popular and seldom
The property was formerly a pair of estate potential". The property is currently held have any vacancies for long, I think a lot of
workers cottages, which have been combined vacant possession at a price in excess of the popularity is down to the excellent road
to form a residential centre. Set within grounds £975,000. Informal tenders are invited and a communications and a good labour skills
in excess of three acres, the property also date is to be set for the beginning of August." base. It's natural for Dial to continue their
benefits from extensive parking and a
Tiverton
support for Tiverton which without shouting
detached barn/garage outbuilding.
The house itself comprises rendered
Property company Dial Holdings has
about it continues to be steadily successful."
elevations, believed to be a combination of
announced its intention to build out two
cob and masonry, under a main roof of pitched
commercial planning permissions in the mid
GLOUCESTERSHIRE
slate. Internally comprising five rooms, two
Devon town of Tiverton.
kitchens, a utility room, and a shower room
The first building is next to Morrissons
Mitcheldean
on the ground floor, six rooms and two
and opposite the new Halfords and Stoneridge-Pollak Ltd and Vantage
bathrooms on the first floor, and a further two
Carpetright stores on the same estate as the Developments have now released an
inter-connecting attic rooms.
recently opened Topps Tiles. The building 82,500 sq ft manufacturing & office space at
The property offers possible
offers one or two floors giving up to a total of Vantage Point Business Village, Mitcheldean
redevelopment potential for a variety of uses,
2,850 sq ft of retail warehouse. The design for occupancy from December 2008.
including a return to one or more residential
features a double height glazed corner feature Unit 4 provides ideal assembly areas for
dwellings, subject to obtaining the necessary
facing the entrance to the estate and mechanical, electrical or electronic
planning consents.
overlooking Morrissons car park. component production. The manufacturing
Plymouth
Clive Brocklehurst of letting and area is supported by a modern 9,800 sq ft
managing agents 4 Property Matters said: office block built to the latest specifications
A rare opportunity has arisen to buy a key city "With three new national retailers opening on two floors.
centre building in Plymouth. Buckwell House recently it shows the towns potential in the Originally the home of Xerox Electronics,
has come to the market for sale for the first eyes of the multiples. This is a real opportunity the whole unit was completely refurbished in
time since it was built. One of three former for a new operator to benefit from the added 2004-5. Following the acquisition of the Xerox
Job centres vacated when Jobcentre Plus profile of the area brought by the arrival of site, Vantage Developments built a new
moved to an impressive new building at national names. 9,800 sq ft office block, re-roofed the entire
Exeter Street. The second building will be behind complex, and carried out other enhancements
King Sturge have been appointed as Morrissons on the popular Mountbatten to bring the site to the best current
sole agents to sell the 1,008 sq m Estate and will be a 3,315 sq ft stand-alone manufacturing standards.
(10,862 sq ft) office building, called Buckwell industrial or warehouse unit known for The 70,757 sq ft production area is tiled
House, which is situated near Bretonside marketing purposes as Mountbatten House. throughout with high quality ESD materials
bus station and St Andrews Cross. With an eaves height to the front of over 18 to ensure excellent conditions for the
Built in 1960, Buckwell House comprises feet, the building will be striking, having the assembly of electrical and electronic devices.
a 'terraced' office building on three floors. same double height glazed façade feature The workforce has easy access to all site
The ground floor office is also suitable for frontage as the retail unit. The design of the services including an integral restaurant area,
retail and office-compatible-with-retail uses building will make a statement about the with a village community, supermarkets
(subject to consents) and it is for this purpose occupier, it will be light bright and postal and medical services less than five
that most enquiries have been received so contemporary. minutes from the production floor."
12 Property News August 2008
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