Summary - Modbury Court, 32 Church Street, Modbury, Ivybridge, Devon, PL21 0QR PL21 0QR
1 bed 1 bath Commercial Property
**Standout Features:**
- Multi-let retail investment
- Current rental income: £18,063 pa; potential to reach £21,209.40 pa once fully let
- NIY of 6.76%, reversion to 7.94% once all units are leased
- Located in the picturesque town of Modbury, Devon
- Historic Georgian building with a charming courtyard setting
- Includes six ground floor lock-up shops/offices with individual electricity supplies
- Long-standing tenants (over 15 years)
- Prominent high street location with good foot traffic
**Potential Downsides:**
- Unit 2 is currently vacant, though negotiations for a lease are in progress
- Some services have not been tested; prospective buyers should verify
Explore this exceptional investment opportunity in the heart of Modbury, Devon, a charming market town known for its picturesque Georgian architecture. This multi-let retail property features six well-positioned ground floor units within a delightful courtyard, ideal for various commercial endeavors. Currently generating a solid rental income of £18,063 per annum, there is a clear pathway to increase revenue to over £21,000 once fully leased—making it an attractive prospect for savvy investors looking to capitalize on a growing market.
The property boasts long-standing tenants that add stability to your investment portfolio, while the prime high street location ensures consistent foot traffic and visibility. With the potential for cultivated rental income and the community's affluent demographics, this property represents not only a sound investment but also a chance to become part of a thriving market hub. Don't miss out on this opportunity—properties of such character and potential are rarely available for long!
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