Commercial Property for sale

Paignton

Under Offer £110,000

Property Description

Key features

  • Town Centre Lock Up Retail Investment
  • Let on a 15 Year Lease From 2014
  • Current Passing Rent: 10,500 Per Annum
  • Strong Yield ? An Ideal Pension Investment
  • Adjacent Investment Property Also Available

Full description

23 Palace Avenue is situated in a good town centre location at the lower end of Palace Avenue, close to its junction with Torquay Road.

The property comprises a Ground Floor lock up retail premises. The tenant trades as a butchers.


TENURE 
The property is being sold, Freehold ? subject to the existing commercial lease. The upper parts of the property are separately owned under a long lease expiring 2175. Ground Rent £50 pa.

OCCUPATIONAL LEASE 
The property is let to the tenant on a 15 year lease from April 2015. The tenant has internal repairing obligations (plus repairing liability for the shop front, fascia, glass and canopy). The tenant has the opportunity to determine the lease on 21st April 2019 & 2024, by giving 6 months prior written notice and paying a penalty of £2,000+VAT to the Landlord.

RENT 
£11,500 Per Annum, payable monthly in advance. Currently agreed verbally to be reduced to £10,500.

LEGAL COSTS 
Each party are to bear their own legal costs incurred in the transaction.

VIEWING  
Viewing is strictly by prior appointment with the selling agents, Bettesworths. Interested parties are requested to respect the tenant's ongoing business.

EPC RATING C 

More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Paignton (0.2 mi)
  • Torquay (2.1 mi)
  • Torre (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bettesworths, Torquay

29 - 30 Fleet Street, Torquay, TQ1 1BB

01803 367002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Paignton (0.2 mi)
  • Torquay (2.1 mi)
  • Torre (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bettesworths, Torquay

29 - 30 Fleet Street, Torquay, TQ1 1BB

01803 367002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 8966542. 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 Bettesworths, Torquay. 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.

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