Property for saleTorquay Road, Paignton
Full descriptionA Portfolio of Five Commercial/Residential Properties currently producing a Gross Annual Income of £123,600 per annum approx.
The New English Riviera - The English Riviera's prime coastal position makes it one of the UK's most popular locations made up of three distinct towns of Torquay, Paignton and Brixham. Increasingly Torbay is raising its profile as a business location offering competitive commercial benefits as well as a great lifestyle. Torbay Development Agency as the area's economic development company is spearheading the physical and economic regeneration of the new English Riviera. Through private sector investment and the successful bidding for public sector funds, Torbay is experiencing a major investment over the next five years in excess of £400,000,000. This renewed confidence will act as a catylst for the Renaissance for the English Riviera and reposition Torbay as a leading European destination. The Torquay central area has recently been classified as a Business Improvement District.
Description - A mixed commercial/residential investment portfolio comprising five properties situated within the towns of Torquay and Paignton.
373-377 Torquay Road, Preston, Paignton - A substantial three storey property comprising a large car showroom/garage premises on the Ground Floor and 5 two bedroomed residential flats to the upper floors all let on Assured Shorthold Tenancies. The garage is let on a 15 year lease at a rent of £19,200 per annum. The five flats if fully let would produce rentals of £2,875 per calendar month.
1 St Pauls Road, Preston, Paignton - This property comprises a four bedroom detached house with double glazing immediately adjoining the Torquay Road premises and including small gardens. The property is currently let on an Assured Shorthold Tenancy at a rental of £795 per calendar month.
Fairholme, 4 St Matthews Road, Torquay - The property comprises a detached Victorian house with extension with accommodation including 5 one bedroom flats and a recently improved two bedroomed maisonette. The property occupies a large plot with a large back garden on the lower level. Recent improvements have included expenditure on fire precaution works. The gross income from the six Assured Shorthold Tenancies amounts to approximately £34,000 per annum.
65 Westbourne Road And 78 Forest Road, Torquay - The property comprises an Edwardian house divided into 2 one bedroom flats with a shop attached to the side of the house and a parking space. The potential gross income fully let is £14,000 per annum.
228A Union Street, Torre, Torquay - The property comprises an end-terrace building on three floors providing approximately 1,500 sq ft of office accommodation. The office premises are held on a 6 year fully repairing and insuring lease to Hele Hub CIC. The interior has recently been recarpeted and redecorated. The current rental is £12,000 per annum.
VIEWING STRICTLY BY APPOINTMENT WITH AGENTS, IRVINE NOTT LLP. TEL: 01803 295433
These brief details should be read in conjunction with the paragraph set out below.
Irvine Nott LLP, for themselves and for the vendors or lessors of this property, note that: (i) these particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a contract; (ii) no person in the employment of Irvine Nott LLP has any authority to make or give representation or warranty whatever in relation to this property. The fittings, equipment and services have not been tested by the agents.
Map & Street View
Street View is unavailable in this location
Disclaimer - Property reference 26118180. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Irvine Nott , Castle Circus. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.