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Commercial Property for sale

Fore Street, Brixham, TQ5

Removed £249,950
976 sq. ft.

Property Description

Full description

Tenure: Freehold

Freehold investment for sale
Prominent position in main shopping street
Close proximity to national and regional occupiers
Popular town
Additional income from car park
Residential upper floors sold off on long leaseholds


Location

Brixham is a traditional Fishing and tourist town, part of Torbay, it has a resident population of around 17,000.

The property is well located within the main high street of Brixham. There are a range of national occupiers in the locality including Boots, Natwest, Burtons, Superdrug & Tesco Express. The subject unit is close to HSBC & Specsavers.

Accommodation

All areas are approximate and measured in accordance with the RICS Code of Measuring Practice on a gross/net internal basis.

Sq Ft Sq M
Shop NIA 520.3 48.34
Storage Ground Floor 22.71 2.11
Total Basement 433.04 40.23


Planning



Rent / Price

The upper floors have been sold off on a long lease for a term of 90 years from 14 April 1979 at a peppercorn rent.

The ground floor is currently let to Shebang Property for a term of 10 years on a lease expiring on the 24 March 2026 at a passing rent of £13,500 per annum exclusive.

In addition the 7 car parking spaces to the rear are let on various licences providing an additional income of £6,270; Producing a total rental Income of £19,770.


Terms

The Freehold of the Ground Floor shop unit is available, which includes the 7 car parking spaces at the rear.

Rateable Value

From the Valuation Office Agency website (www.voa.gov.uk) we understand that the current rateable value is £17,000 effective from 1st April 2010 billing authority reference 212345006400. Rates Payable are £8,194.00 (using the UBR multiplier for 2014/15 is £0.482)


Services

We understand that mains electricity water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

An EPC on the property is pending.

Legal Fees

Each party are to be responsible for their own legal fees.

VAT

All figures quoted are exclusive of VAT which is payable.


More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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