This division of the group generates rentals from investment properties and is particularly focused on growing annual income created by asset enhancement.
Sutton Harbour Holdings plc oversees a high-profile portfolio of properties based in both Sutton Harbour in the heart of Plymouth’s spectacular waterfront, and the acclaimed new coastal quarter created in Millbay next to the city centre.
The portfolio offers a good mix of offices, retail units, bars and restaurants, as well as industrial units located on Fish Quay alongside Plymouth Fisheries, the second largest fish market in England.
Tenants span a diverse range of national and regional businesses as well as smaller independent operators, and include the National Marine Aquarium, the UK’s biggest aquarium.
A strong business community hub has been established by the group on the northern side of the harbour, attracting a number of leading businesses including chartered accountants, legal firms and other professional services companies to lease space in high quality office accommodations. This has helped Sutton Harbour establish a reputation as a successful waterfront business district for Plymouth and the South West.
- Total Property Portfolio Valuation £44,694,000
- Number of Investment Properties 71
- Contracted Rent £1.433m
- New Initial Yield 8.6%
- Reversionary Yield 9.7%
- Vacancy Rate 6.7%
- ERV of vacant units £119k
- Average unexpired lease 10 years
- Gross Car Park Revenues £422k