TQ13 Co-op Investment, Dolbeare Meadow Business Park, Ashburton, Newton Abbot

Co-op Investment For Sale

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.

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.

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.

The property forms part of a modern roadside scheme and benefits from strong covenant strength, offering secure long-term income.

Floor plans are available upon request.

Department for Transport Daily Traffic Counts are provided below for the most recent year:-

A38 -

48,226

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.

Offers are invited in the order of £1,500,000, representing a 5.34% NIY, for the freehold interest subject to the occupational lease, with purchaser's costs of 6.52%.

Rent free will be absorbed by the vendor by way of a rent top up or price adjustment reflective of the completion date.

Vat is applicable but it is assumed that the sale can be treated as a TOGC and therefore VAT will be waivered.

In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.

For a formal viewing strictly by appointment with Savills and Monk & Partners.

Prime roadside investment.

Benefiting from significant exposure to high traffic volumes, with approximately 48,000 daily vehicle movements.

Fully let to established covenant the Co-op (15-year lease).

Very sustainable rent of £85,000 per annum (£19.89 per sq ft).

Inflation-protected income with 5-year CPI reviews (capped & collared).

Now open and trading.

Offers are invited in excess of £1,500,000 reflecting 5.34% NIY.

The Starbucks and Ionity investments are also available by way of separate negotiation).

Ashburton is well located geographically being approximately equidistant (approximately 20 miles) between the three major commercial centres of Plymouth (west), Torbay (south) and Exeter (east). Located adjacent to the A38 Devon Expressway, Ashburton is a busy market town and provides a gateway to the Dartmoor National Park sitting on it's southern edge. The A38 merges into the M5 at Exeter (16 miles) whilst providing access to Cornwall 20 miles west. Dolbeare Meadow Business Park is a 3 acre site currently accommodating a Devon & Cornwall Police department and with a further 30,000 sq ft plus of new business space planned and/ or about to commence construction. The subject property will provide a much needed convenience retail provision to serve Ashburton, the South Devon Community College, Ashburton Cookery School along with the proposed development of the Park itself. It will also provide a welcomed amenity for the established and highly successful Linhay Business Park just 400m along the road which accommodates a range of national and local occupiers including Age UK, Devon & Cornwall Police, Cambium Networks etc.