Torquay
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Mixed use property for sale
Key features
- Mixed Use Commercial Investment in Central Torquay
- Comprising of 4 Units - 2x Commercial & 2x Residential
- A 3 Bedroom Flat and a 1 Bedroom Flat
- 2 Commercial Units Let on Tenancy at Wills
- Gross Rental Return of £29,448 Per Annum
Description
Situated in Ellacombe, Torquay, the properties form part of a small parade of shops in a largely residential area. Located just outside the town centre, Ellacombe is a popular residential area with its convenience to the amenities of the town centre, local parks, and primary school.
The property itself is located on a busy corner, opposite Ellacombe Primary School. The commercial premises are well positioned to benefit from the high levels of passing vehicular traffic.
A mixed commercial/ residential investment opportunity. The property is currently arranged as 2x commercial units across ground and lower ground floor and 2x residential units across first and second floor.
The commercial units are currently let to family members of the vendor on tenancy at wills. We are informed the current occupiers would like to stay on after the sale, but only on tenancy at will agreements. Combined, the commercial units generate a rental income of £960pcm.
The residential units are currently let on ASTs. The three-bedroom flat is arranged over first and second floor and is let at £866pcm. The one-bedroom flat is tidy, with a large lounge and is let at £628pcm.
The property is an excellent investment for someone looking for a multiunit investment with scope for future growth. The commercial units are potential residential conversion opportunities (STP) or could be let to new commercial tenants on standard commercial terms.
86 VICTORIA ROAD
RETAIL
18' 10'' x 12' 10'' (5.73m x 3.92m)
OFFICE
10' 5'' x 3' 4'' (3.18m x 1.01m)
OFFICE/KITCHENETTE
12' 6'' x 11' 10'' (3.82m x 3.60m)
BASEMENT
23' 10'' x 10' 10'' (7.26m x 3.30m)
WC
Currently let on a Tenancy at Will at £500pcm and used as a workshop/ store.
88 VICTORIA ROAD
SALON
22' 6'' x 11' 2'' (6.87m x 3.41m)
STORE
12' 0'' x 9' 11'' (3.66m x 3.01m)
KITCHENETTE
6' 2'' x 3' 7'' (1.88m x 1.10m)
TREATMENT ROOM
13' 6'' x 10' 1'' (4.11m x 3.07m)
WC
Currently let on a Tenancy at Will at £460pcm and used as a hair salon/ beauticians.
86A VICTORIA ROAD
LIVING ROOM
12' 11'' x 12' 10'' (3.94m x 3.90m)
KITCHEN
12' 4'' x 9' 0'' (3.77m x 2.75m)
BATHROOM
7' 10'' x 7' 4'' (2.39m x 2.24m)
BEDROOM
13' 8'' x 12' 7'' (4.16m x 3.84m)
BEDROOM
11' 9'' x 9' 3'' (3.57m x 2.81m)
BEDROOM
16' 0'' x 15' 6'' (4.88m x 4.72m)
Currently let on an AST at a rent of £866pcm.
88A VICTORIA ROAD
LIVING ROOM
14' 9'' x 13' 8'' (4.49m x 4.17m)
BEDROOM
15' 3'' x 12' 9'' (4.65m x 3.89m)
KITCHEN
9' 6'' x 6' 11'' (2.89m x 2.10m)
SHOWER ROOM
6' 11'' x 5' 5'' (2.12m x 1.65m)
Currently let on an AST at a rent of £628pcm.
TENURE
Offered for sale freehold. We have been made aware there is a small element of flying freehold.
PRICE
An asking price of £250,000.
Due to past difficulties for parties raising finance on the flying freehold and tenancy at wills over the commercial units, the vendor is only considering cash offers/ or offers from parties in an equivalent position.
BUSINESS RATES
86 Victoria Road: £2,650.
88 Victoria Road: £2,700.
COUNCIL TAX BAND
86 Victoria Road – B.
88 Victoria Road - A.
VAT
The property is not elected for VAT and therefore is not chargeable on the sale price.
LEGAL COSTS
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
EPC RATINGS
86 Victoria Road – E.
86a Victoria Road – E.
88 Victoria Road – C.
88a Victoria Road – E.
VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Energy Performance Certificates
Energy Performance CertificateBrochures
Torquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Torre Station0.8 miles
- Torquay Station1.0 miles
- Paignton Station3.1 miles
Notes
Disclaimer - Property reference 9577806. 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, Devon. 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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