Office for sale Plymouth PL6 8BU,16822sq ft

1/4

Office

Office For Sale Plymouth

PROPERTY ID: 149885

PROPERTY TYPE

Office

STATUS

Available

SIZE

16,822 sq.ft

Key Features

Established medical, life science and professional hub

Building constructed in the early 2000's

16,822 sq ft (1,562.8 sq m) of medical / office accommodation

On site parking for 54 cars

New 10 year lease

Rental income of £235,000 pa

Strong income stream from an excellent covenant

Net Initial Yield 8.5% (assuming purchasers costs of 6.4%)

Property Details

The Property Comprises A Modern Three Storey Building Constructed In The Early 2000s. The Ground Floor Features A Spacious Reception And Waiting Area, Together With A Range Of Clinical Rooms. The First And Second Floors Provide A Series Of Partitioned Offices In Varying Sizes, With Toilet Facilities Located On Each Level. Externally, The Property Benefits From A Car Park To The Front And Side, Providing Approximately 54 Parking Spaces. 
 
There Is A Right Of Way Across The Shared Access With The Adjacent Property. The Cost Of Maintenance Is Split 50/50. 
 
The Property Is Located On Research Way, Which Is A Highly Accessible And Established Position Within Plymouth's Northern Business District, Directly Opposite Plymouth Science Park, The City's Leading Centre For Innovation, Research And Technology. The Surrounding Area Has Evolved Into A Key Hub For Medical, Life Science And Professional Occupiers, Forming Part Of The Wider Derriford Employment Zone. 
 
The Property Is Ideally Placed For Organisations Linked To The Healthcare, Research And Education Sectors, Being Within A Short Walk Of Derriford Hospital, The Peninsula Dental And Medical Schools And The University Of Plymouth's Faculty Of Health. This Concentration Of Healthcare And Academic Institutions Has Attracted A 
Cluster Of Complementary Businesses Ranging From Private Clinics And Laboratories To Technology Firms And Professional Services. 
 
Location 
 
Britain's Ocean City Nestles In An Area Of Outstanding Natural Beauty With The Dartmoor National Park To The North, Whilst The Natural Harbour Of Plymouth Sound Creates The Southern Border With The Rivers Plym And Tamar On Either Side. Plymouth Is Renowned For Its Maritime History, Which Includes Drake And The Pilgrim Fathers. 
 
The City Has Excellent Road Connections With The A38 Providing Access West To Cornwall And East To The National Motorway Network At Junction 31 Of The M5 Motorway At Exeter. Plymouth's Mainline Railway Station Provides Regular Services To London Paddington Of Just Over Three Hours. There Are Also Other Direct Services To Bristol, The Midlands, The North, Scotland And South Wales. Exeter Airport Is Approximately 50 Miles Away And Newquay Airport Is Approximately 45 Miles Away. 
 
Plymouth Is The Second Largest City On The South Coast Of England And After Bristol, The Largest In The South West With A Resident Population Of 264,700 (2021 Census). The City Has An Economic Output Of £5.03 Billion And 115,000 Jobs, 13.9% Of Which Are In The Manufacturing Industry With The National Average Being 7.9%. The Most Significant Increase In Jobs Has Come In The Professional, Scientific And Technical Activities Industry, With An Increase Of 1,500 Jobs Since 2018. The Population In Plymouth Is Expected To Increase To 273,300 By 2043. 
 
The Marine Industry Sector Is Extremely Important In The City With 300 Firms Employing Around 13,600 People, Contributing £400million To The Local Economy. Plymouth University Is One Of The Largest Centres For Marine Excellence In Europe. 
 
Devonport Is The Largest Naval Base In Western Europe And Has Been Supporting The Royal Navy Since 1691. It Is The Uk's Main Location For Deep Maintenance Of Surface And Submarine Vessels And Generates Around 10% Of Plymouth's Total Employment. 
 
Derriford Hospital Is Undertaking A Significant Refurbishment Via Its Future Hospital Programme Which Will Double The Space For Urgent And Emergency Care. The Medical, Health And Life Sciences Cluster In Plymouth Has A Gross Value Added Of About £140m. 
 
Plymouth Is One Of Eight Freeports In The Uk And Is Expected To Generate 3,500 New High Quality Jobs. 
 
Accommodation 
 
All Areas Are Approximate And Measured In Accordance With The Rics Property Measurement (2nd Edition). 
 
Ground Floor - 489 Sq M / 5,264 Sq Ft 
First Floor- 518.6 Sq M / 5,582 Sq Ft 
Second Floor- 555.2 Sq M / 5,976 Sq Ft 
 
Total - 1,562.8 Sq M / 16,822 Sq Ft 
 
Rent / Price 
 
£2,600,000 
 
Business Rates 
 
From The Valuation Office Agency Website (www.voa.gov.uk) We Understand That The Current Rateable Value For The Ground And First Floor Is £153,000, Therefore Making The Approximate Rates Payable £84,150 Per Annum For 2025/26. 
 
From The Valuation Office Agency Website (www.voa.gov.uk) We Understand That The Current Rateable Value For The Second Floor Is £78,000, Therefore Making The Approximate Rates Payable £42,900 Per Annum For 2025/26. 
 
Interested Parties Are Advised To Confirm The Rating Liability With Plymouth City Council. 
 
Services 
 
We Understand That Mains Electricity, Water And Drainage Are Connected To The Property However These Services Have Not Been Tested By The Agents. Interested Parties Should Make Their Own Enquiries. 
 
Epc 
 
C (55) 
 
Legal Fees 
 
Each Party To Be Responsible For Their Own Legal Fees In Relation To This Transaction. 
 
Vat 
 
The Property Is Not Registered For Vat And Therefore Vat Is Not Chargeable On The Price.

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About the Agent

Vickery Holman

See Agent's Other Properties

Office Unit

£2,600,000 Freehold

6 Research Way, Plymouth, PL6 8BU

Office - Available
16,822 sq ft
1,563 sqm

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Enquiry Form

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Office For Sale Plymouth

PROPERTY ID: 149885

PROPERTY TYPE

Office

STATUS

Available

SIZE

16,822 sq.ft

Key Features

Property Details

About the Agent

Vickery Holman

Office Unit

£2,600,000 Freehold

6 Research Way, Plymouth, PL6 8BU

Office - Available 16,822 sq ft1,563 sqm

Enquiry Form

Save this property- Feature coming soon

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Office - Available
16,822 sq ft
1,563 sqm