The property comprises a ground floor retail unit with self contained first floor office accommodation, which has been sub-let.
Location Description
Ivybridge is a popular town in Devon situated on the southern boundary of Dartmoor National Park.
The property is prominently situated on Fore Street, adjacent to the Glanvilles Mill Shopping Centre.
Nearby occupiers include Co-operative Food, Lloyds Bank, Salvation Army and The Post Office.
Additional Notes
Day Lewis Plc are currently occupying the property on a lease assigned from Boots the Chemist Limited by way of an Authorised Guarantee Agreement at a rent of £39,439.86 p.a.x. rising to £40,031.60 p.a.x. in April 2019 and £40,631.92 p.a.x. in April 2020.
This lease is due to terminate on 21/07/2020. In addition, Day Lewis Plc have entered into a reversionary lease for a further 10 years at a rent of £40,632 p.a.x. expiring 21/07/2030 (no breaks).
The first floor has been sub-let on a licence to NHS Partnership Trust expiring in July 2020 at a rent of £9,900 per annum.