Paignton
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- SECTOR
Mixed use property for sale
Key features
- Large Freehold Investment with Development Potential
- Arranged as 5x Commercial Units and 1x Residential Unit
- Comprising Shop, Offices and a 2-Bed Flat
- Current Rental Income of £38,000p.a. (Fully Let Income of £46,400p.a.)
- Potential to Develop Commercial Units into Residential (STP)
Description
Located on the corner of the entrance to Winner Street, the property is well located to benefit from the one way traffic entering Winner Street and is in a prominent position on the busy Totnes Road.
Winner Street is a vibrant secondary trading location, just outside the town centre and servicing the large surrounding area. It is comprised of a variety of independent retailers, service providers and professionals. The property is a large freehold investment, comprised of shops, offices and a residential flat. The shops are currently let to one tenant and stretches across three retail units. There is potential to split these units in the future to increase rental return. The offices are arranged over 3-floors in the Grade II listed ‘Belgrave House’. Currently two floors are let to a solicitor’s firm, with the ground floor being a shared communal reception. The second floor and attic are currently vacant and could be let or developed to increase return. Previously the second floor was producing £800 pcm as an office let.The basement of Belgrave House is a 2-bedroom flat. The flat is accessed via the rear of the property, through a private courtyard and garden.
BELGRAVE HOUSE (2 WINNER STREET)
GROUND FLOOR
GIA: 64m² (689 sq ft).
Currently arranged as reception area, 2x meeting rooms and a WC.
FIRST FLOOR
GIA: 93m² (1,001 sq ft).
Let entirely to Lister Langley Solicitors. This floor is arranged as 6 offices and has its own kitchenette and WC facilities.
SECOND FLOOR
GIA: 80m² (861 sq ft).
Currently vacant and arranged as 5 rooms with WC facilities.
ATTIC
There is a small staircase which leads to the attic space of the property. This could be utilised as storage for tenants in the offices.
BASEMENT (FLAT)
Access via a lane between 6 and 8 Winner Street, which leads into a private gravelled courtyard.
A spacious two-bedroom flat, let to a tenant at £800pcm.
TENURE
The property is offered for sale freehold, subject to the commercial leases, the residential AST and the long leasehold titles of the flats above 4, 6 & 8 Winner Street.
UTILITIES
Belgrave House (2 Winner Street) is connected to gas, electricity, water and mains drainage. The whole property is heated by a gas central heating system and the landlord pays for the gas and water.
The flat and each floor of offices have their own electricity meter.
4, 6 & 8 Winner Street has their own utility supplies, which the tenant is responsible for.
PRICE
An asking price of £380,000.
HISTORIC LISTINGS
Belgrave House (2 Winner Street): Grade II listing. Ref: 1293144.
4 Winner Street: Grade II listing. Ref: 1195217.
VAT
The property is not elected for VAT and therefore is not chargeable on rent.
COUNCIL TAX
Known by the council as Basement Flat at 4 Winner Street: Band B.
BUSINESS RATES
The following rateable values have been taken from the 2023 list of the VOA.
4-8 Winner Street: £13,250.
Gnd-1st Flrs 2, Winner Street: £9,300.
2 Nd Flr 2, Winner Street: £3,700.
TENANCY SCHEDULE
Basement Flat, 2 Winner Street - Private Individual - £9,600 PA - Holding Over on AST.
First Floor Office, 2 Winner Street - Listers Langley Solicitors - £20,000 PA - November 2029.
Second Floor Office, 2 Winner Street - Vacant.
4,6 & 8 Winner Street - Private Individuals (T/a DJ Carpets)- £8,400 PA - September 2025.
Total Rent: £38,000 Per Annum.
EPC RATINGS
Basement Flat – E.
Belgrave House – Awaited.
4, 6 & 8 Winner Street - Awaited.
VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Brochures
Paignton
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Paignton Station0.3 miles
- Torquay Station2.3 miles
- Torre Station3.0 miles
Notes
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