Lower Tweed Mill, Shinners Bridge, For sale Dartington, Devon, TQ9 6JB Freehold investment opportunity
Unique Grade II Listed refurbished office building
Viewing by prior appointment with Simon Greenslade Let to three quality tenants
(01392) 202203 Attractive working environment [email protected]
Ideal SIPP purchase
Price: £525,000
strattoncrebercommercial.co.uk Lower Tweed Mill, Shinners Bridge, Dartington, Devon, TQ9 6JB strattoncrebercommercial.co.uk
Location VAT Situated in a semi rural position a few hundred metres from The property has been elected to charge VAT. This the shops at Dartington and Dartington Hall Estate at the transaction may qualify to be dealt with as a Transfer of a junction of the A384 and A385 at Shinners Bridge. Going Concern (TOGC), in which event VAT would not be payable on the purchase price. Please take advice from your Totnes is about 2 miles distant whilst Exeter via the A38 accountant in this respect. dual carriageway is 27 miles away.
The property is situated adjacent to Bidwell Brook which feeds into the River Dart. Legal Costs A cycle path runs through the site to the Shops at Each party to bear their own legal costs incurred in the Dartington which are about 5 minutes walk away. transaction.
Description Viewing & Further information Lower Tweed Mill was designed by Oswald P Milne as a Strictly by appointment through the sole agents: purpose-built Mill powered by water from Bidwell Brook. The building was used until the early 1980’s by the Textile Stratton Creber Commercial Department of Dartington Hall and is Grade II listed. The 20 Southernhay West, Exeter, EX1 1PR building is situated on a sloping site, constructed with mainly stone elevations under slate covered roofs. Contact: Simon Greenslade Tel: (01392) 202203 Since the early 1980’s the building has been used as office Email: [email protected] accommodation and is currently divided into four office units which have been refurbished over the past few years to provide a good quality working environment.
Accommodation The total net internal floor area is approximately 6,247 sq ft with 12 car parking spaces.
Additional parking is available through the Dartington Hall Trust on a pay and display or annual permit basis at the “Shops at Dartington” - a short walk from the property.
Tenure Freehold.
There will be a provision for overage in the event of planning consent for residential use being obtained. Further information available on request.
Tenancies The property is fully let to three quality tenants on effectively full repairing and insuring terms.
The property is currently yielding an income of £48,309 per annum.
Proposal We have been instructed to arrange a sale of the freehold interest in the property at a price of £525,000 subject to contract. This figure will provide an investor with a net initial yield of 8.78% after making an allowance of 4.8%.
Energy Performance Certificates (EPCs)
• Ground Floor (front) - pending • First Floor (front) - C/74 • Rear Building—C/70
Lower Tweed Mill, Shiners Bridge, Dartington, Devon, TQ9 6JB strattoncrebercommercial.co.uk Lower Tweed Mill, Shiners Bridge, Dartington, Devon, TQ9 6JB strattoncrebercommercial.co.uk
Stratton Creber Commercial for themselves and for the Vendors or Lessors of the property whose Agents Exeter Office they are, give notice that::
20 Southernhay West, Exeter, EX1 1PR The particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute part of, an offer or contract; T: (01392) 202203 All descriptions, dimensions, reference to condition and necessary permissions for use and occupa- F: (01392) 203091 tion, and other details are given without responsibility and any intending purchasers or tenants E: [email protected] should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to each of them; No person in the employment of Stratton Creber Commercial has any authority to make or give any representation of warranty in relation to this property.