Industrial development/investment. Site could be split in parts

For Sale

Martins Cash & Carry Pennygillam Industrial Estate Launceston Cornwall PL15 7ED

4No. Plots available with or without buildings (0.71 to 3.15 acres) - Different configurations possible

4No. Plots available as indicated from £700,000

Redevelopment/change of use potential

Prominently located and Close to A30

Description

Martins Cash and Carry sits within an approximately 3.15 acre site (predominantly of concrete/tarmac/some unmade hardstanding) running parallel to Pennnygillam Way with numerous connected warehouses, a 2 storey office block and a cabin set within. The majority of the site is currently vacant although there is one tenant occupying the western end of the site on a three year contracted out lease. The site has significant development/refurbishment potential and could be suitable for various uses (subject to planning).

Accommodation

Accommodation (PLOTS 1 & 2)

Plot 1 is the most prominent part of the site and is predominantly of hardstanding with boundary fences and a large site entrance.  A dividing fence will be required to separate Plot 1 from Plot 2 as well as blocking up of the roller doors to the building in Plot 2.  Water and electricity supplies are required to this plot together with foul drainage.  The Seller is seeking quotations from utilities companies for services up to the plot boundary from Pennygillam Way.

Plot 2 is in a prominent part of the site and is predominantly of hardstanding with boundary fences and a large recessed entrance.  Dividing fences will be required to separate Plots 1 and 3 and the building will need to be blocked up internally to separate Plot 2 from Plots 1 and 3.  There are separate water, electricity and foul services to the Cabin Building which can serve this plot.  Plot 2 could potentially be combined with part of Plot 3 if more warehouse space is required.  The office block to the front could potentially be sold separately together with the parking area accessed by Entrance 3.

Plot 3 consists mainly of buildings, although there is a vehicle entrance from Pennygillam Way to a large parking area to the front. Access to the buildings is from pedestrian access points so some remodelling might be required if intending to access the warehousing to the rear for large goods storage. Dividing fences will be required to separate Plots 2 and 4 and the building will need to be blocked up internally to separate Plot 3 from Plot 2. There are separate water, electricity and foul drainage services to the building which serve this plot. The office block to the front could potentially be sold separately together with the parking area accessed by Entrance 3 if additional warehouse space is required with an acquisition of Plot 2.

Plot 4 includes warehouses with good height for mezzanines or vertical storage. There is significant yard space around the front and side of the buildings. A dividing fence will be required to separate Plots 4 and 3 to the front. Water and electricity supplies are required to this plot together with foul drainage. The Seller is seeking quotations from utilities companies for services up to the plot boundary from Pennygillam Way.

Accommodation (The Whole) Martins Cash & Carry is accessible from 4.No. vehicular entrances off Pennygillam Way, which is the primary road through the estate with a busy flow of passing traffic.  The site is mostly vacant although British Wool occupy Well Warehouse to the west on a contracted out 3 year lease which commenced on the 1st of May 2024 (see the previous and the next page for details).  The warehouse buildings are generally of steel frame and concrete block wall construction with asbestos cement sheet roof and wall cladding (some wall faces are rendered).  The office building is clad in red brick.  Site plans and indicative floor plans are available upon request or can be downloaded from our website.  An asbestos survey is available upon request.  A CAD/DXF topographic survey can be made available to purchasers.

Legal Costs

Each party will be responsible for their own legal costs.

Price

Plot 1 – £700,000

Plot 2 – £800,000

Plot 3 – £700,000

Plot 4 – £750,000 (see “Occupancies” above)

The plots are shown indicatively and might need to be configured differently depending upon specific buyer requirements, site constraints and any building work required.  The cost to undertake any work required to create plots and provide utilities can form part of negotiations.

Business Rates

The current rateable values (RV) are as follows: Martins Cash & Carry is £90,500. Well Warehouse (listed as Redmoor Health Foods) is £28,750. Portacabin Stores (adj Martins Cash & Carry) is £6,500. The RV’s are as stated on the Valuation Office Agency (VOA) website service (effective dates 1st April 2023). Information concerning how rates are calculated are available on the Cornwall Council website.

VAT

The property is not understood to be elected for VAT.

Subject to Contract

This brochure is for guidance purposes only and does not constitute an offer or contract. All descriptions, particulars and dimensions stated are understood to be correct, but prospective purchasers or tenants must satisfy themselves that the information is correct and not rely on the information if entering into a contract or incurring expenses.

Viewing Arrangements

Viewings are by appointment only. Contact Phil Wiltshire on:
01208 812 812

For full details please download the PDF Brochure, which also contains some useful links.