123 Union Street

For Sale-offers on £135,000 inc VAT or only £112,500 if you are VAT registered.

A very prominent office or retail premises at the top end of Torquay town centre.

The premises benefit from an excellent frontage providing the maximum of advertising with small storage area & WC behind.

The premises have been used for estate agency and property letting purposes although are ideal for many other uses within class ‘E’

Accommodation

Ground Floor Retail Area 28.1m² (302.46 sq ft)

Rear Storage Room 4.98m² (53.60 sq ft)

WC & Wash hand basin.

Total Area 33.08m² (356.07 sq ft)

Proposal

The property is available on a long ground lease with a modest ground rent.

We await full details of the lease although understand that this property is subject to an 8% share of exterior maintenance and insurance, the property is currently awaiting comprehensive redevelopment and we understand that the freeholders have confirmed that there will be no liability towards these works.

Our clients will consider an offer for a short lease say 6 years with or without an option to purchase at a market rent to be agreed.

Rateable Value: £5,300.

Small business relief available to qualifying occupiers.

VAT

The property is elected to VAT and the figures quoted are inclusive of VAT which can be reclaimed if purchaser/tenant has a VAT registration.

Our client will consider the sale of the property on a deregistered basis if required.

Otherwise a sale to VAT registered businesses, the transfer of going concern rules we believe will apply .

Legal Costs

Each party to be responsible for their own legal costs incurred.