Investment.

Tavistock.

Pearl Assurance House, Brook Street, PL19 0BN

Map View

Status.

Sold on 03/10/2023

Price.

£1,350,000 (Subject to Contract and Exclusive VAT)

Service Charge.

Whilst a service charge is not being currently operated at the premises there is provision in the occupational leases to levy a service charge budget.

Location.

The largest town in west Devon, Tavistock has a resident urban population of circa 12,676 people (2021 census) but draws on a much larger parish catchment population of circa 30,000 people. This figure increases substantially during the summer months due to the large influx of tourists visiting Dartmoor National Park and environs. The catchment is particularly affluent with over 24% of residents classified within the AB socio economic grouping, higher than the national average. Similarly, Experian’s MOSIAC data shows a significantly higher percentage of successful professionals living in Tavistock’s suburban or semi-rural areas, than the County average.

Tavistock's prime retailing core is focused on Brook Street and Duke Street and contains an eclectic mix of national, independent and boutique retailers, restaurants and cafes as well as the historic Pannier Market; an indoor market which opens Tuesday to Saturday each week. Tavistock also has an established Farmers’ Market which occurs fortnightly in Bedford Square. 

Major retailers represented in the town include Boots, WH Smiths, Co-Op, Mountain Warehouse, Superdrug, M&Co, Holland & Barrett, Costa, White Stuff, Fat Face, Saltrock, Neals Yard, Specsavers, Vision Express and Crew Clothing.

The property is situated in a prime and prominent, retailing position on the northern side of Brook Street, at its junction junction with Duke Street and Elbow Lane, opposite Superdrug, and M&Co and adjacent to Boots, WH Smith.

Description.

Pearl Assurance House is a substantial,1970’s mixed use building comprising a parade of three retail units at ground floor fronting onto Brook Street with two floors of office accommodation above accessed via a dedicated office & lift lobby entrance in Elbow Lane. There is an additional small office suite located on the rear of the ground floor also accessed from the Elbow Lane lobby. Adjacent to Units 3 & 4 (Mountain Warehouse) there is an independent, single storey, office property which is known as the Platinum Centre. To the rear of the building is a car park with 21 car parking spaces as well as servicing for the respective retail units.

Rent.

£139,275.00 per annum exclusive

Tenure.

Freehold

Yield.

Share.

All viewings are strictly by prior appointment.

Will Civil.

Surveyor | Investment

David Freeman.

Partner | Investment

Ed Smith.

Partner | Investment

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