Queen Street, Newton Abbot, Devon

LOCATION
The premises are located on the busy Queen Street in Newton Abbot town centre close to its junction with Courtney Street. The area has a mix of national and local retailers including Sports Direct, Specsavers, Millets and Poundland. Newton Abbot is a large market town in south Devon in an easily accessible busy location between Dartmoor and the coast.

DESCRIPTION
The premises comprise a mid-terraced three storey period property of traditional construction. There is a good sized retail unit on the ground floor with a self-contained three bedroom maisonette over the upper two floors, accessed from the rear. There is also a parking space at the rear.

ACCOMMODATION (Approximate NIA)
Ground Floor - 120.3 sq.m. (1,295 sq.ft.)
Three bedroom maisonette with living room, kitchen and bathroom.

EPC
Retail Unit has an expired EPC rating E. This is being renewed.
The maisonette has an EPC rating of E 44

SERVICES
It is understood the building has mains electricity, gas, water and drainage.

PLANNING
It is understood that the premises have consent for retail uses within Use Class E and for residential use under Use Class C3. Interested parties are advised to contact Teignbridge District Council on

TENURE
The whole premises are offered freehold subject to a lease to Cancer Research UK for a term of ten years from the 7th April 2015 at an annual rent of £26,700 on an effective FRI basis. The tenant currently sub-lets the residential accommodation on an AST. Cancer Research did not want to sign a new lease, we assume due to a review of their stores. This was not on the current closure list, but we understand they are likely to close the shop early in 2027. A new owner has the option to start fresh negotiations or look to refurbish and split the property.

PRICE
Offers invited with a guide of £295,000 showing a gross yield of 9.05%

RATES
RV – Ground Floor £17,750 - Local Authority Reference - N000368
Council Tax Band A - Local Authority Reference – 003148
Teignbridge District Council

VAT
The price will not be subject to VAT

LEGAL COSTS
Each party to bear their own legal costs.

For full details click on "Brochure" below.

For details of all our properties go to simonpowell.co.uk