Retail for sale - Co-op, Starbucks and Ionity Investment, Conway House, Dolbeare Business Park, Newton Abbot, TQ13 7FL

<strong>Description</strong><br>The site comprises of approximately 1.06 acres (0.429 hectares) bounded by the A38 and B3352. The land is relatively flat with an undulating bank rising from south to north.<br /> <br /> Planning permission was granted for a convenience store, a drive thru unit and EV parking. Works have now been completed with full practical completion achieved and hand-over in late November 2025.<br /> <br /> The drive-thru unit set on a 0.36 acres site has been let to Starbucks and comprises of a purpose-built cafe restaurant with a dedicated drive-thru lane. The unit totals approximately 1,840 sq. ft and has 15 car parking spaces.<br /> <br /> The convenience store set on a 0.56 acres site has been let to The Co-op Group Food Ltd and provides 4,273 sq. ft of retail and storage space. The brand-new single-storey unit includes parking for 17 cars and a loading bay. It has been constructed using a portal frame design and clad in stone and timber with some render. Both the convenience store and coffee unit include high quality materials and are finished to an excellent specification.<br /> <br /> A long with the car parking spaces from the two occupiers, there is 10 additional EV charging bays, which sit on a site area of 0.14 acres and have been let to Ionity GmbH.<br /> <br /> As shown on the site plan to the right, the property can be offered in ‘lots’ and purchased either separately or together, comprising the Co-op, or the Starbucks and EV charging. The Co-operative is outlined in yellow, while Starbucks and the EV charging are outlined in blue.<br /> <br /> Floor plans are available upon request.<br><br><strong>Traffic Count</strong><br>Department for Transport Daily Traffic Counts are provided below for the most recent year:-<br /> <br /> A38 - 48,226<br><br><strong>Planning</strong><br>Planning permission has been granted for the site and developed in accordance with the below. Application No: 0399/24 proposes the development of five flexible non-retail Class E units (covering subcategories c, d, e, f, and g), along with an electric vehicle charge park, a café building, and drive-thru facilities. Application No: 0252/24 relates to the provision of five Class E units, comprising one convenience store and four commercial units.<br><br><strong>Tenure & Guide</strong><br>Offers are invited in the order of £3,800,000, representing a 5.55% NIY, for the freehold interest subject to the three occupational leases, with purchaser’s costs of 6.52%. Alternatively, individual offers for each demise, as indicated in yellow and blue on our lotting plan and based on the following guide prices:-<br /> <br /> OIEO of £1,500,000, reflecting 5.50% NIY for the Co-operative investment.<br /> OIEO of £2,300,000, reflecting 5.75% NIY for the Starbucks and Ionity EV investment.<br /> <br /> Rent free will be absorbed by the vendor by way of a rent top up or price adjustment reflective of the completion date.<br><br><strong>VAT</strong><br>Vat is applicable but it is assumed that the sale can be treated as a TOGC and therefore VAT will be waivered.<br><br><strong>Anti-Money Laundering Regulations</strong><br>In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.<br><br><strong>Viewing</strong><br>For a formal viewing strictly by appointment with Savills and Monk & Partners.<br><br>