Torquay
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- SECTOR
Mixed use property for sale
Key features
- Very Well Managed Mixed Use Investment Property
- Situated in Popular Trading & Investment Location
- Comprising Retail Unit (Gymnasium), a 2 Bed Flat & a Studio Flat
- Studio Flat With Storage Unit & Parking to the Rear
- Current Income £26,700 Per Annum
Description
The property is located on St. Marychurch Road in the Plainmoor parade of shops. This area is a thriving trading location, serving the densely populated local residential area. Nearby occupiers include Domino's Pizza, Morrisons Daily and Lidl Supermarket. The area benefits from free on street parking immediately outside. It is a popular trading and investment location. There is also a convenient place for tenants to live.The property comprises a ground floor lock up retail unit, which has recently been subject to extensive and high-quality refurbishment to provide an exclusive female training and nutrition centre. This unit has the benefit of a rear parking space and rear access from a service lane.The large 2 bedroom residential apartment is accessed independently through a glazed door at street level at the front of the property and the accommodation is arranged over first floor level.The rear studio flat is accessed from the back of the property via a short, galvanised steel external staircase.There is a further, independently occupied store to the rear.
141 ST. MARYCHURCH ROAD
A ground floor lock up retail unit.
Net Internal Area of approx. 67m2 (721 sq ft).
Trading as Momentum - a female exercise and nutrition specialist and superbly presented throughout. The shop has a private allocated parking space to the rear.
141A ST. MARYCHURCH ROAD
A spacious, self-contained two bedroom residential apartment with independent electricity, gas and water supply.
141B ST. MARYCHURCH ROAD
Independently accessed studio apartment at first floor level, with independent water and electricity supply.
REAR STORE
A rear store accessed from the service lane, which is let on an informal basis at a rent of £1200 per annum.
TENURE
The property is being sold Freehold, subject to the Occupational Tenancies.
141 St. Marychurch Road is let under a 6 year lease from 23rd September 2024. The tenant has the option to determine the lease at the third anniversary, by giving not less than 6 months prior notice.
The tenant has Internal Repairing and Shop Front Repairing liabilities and is liable to contribute 50% of the annual Property Owner's Insurance Premium.
The annual passing rent is £9,900 per annum, with a RPI linked Rent Review at the third anniversary.
141A St. Marychurch Road is let under an Assured Shorthold Tenancy at a rent of £775 pcm.
141B St. Marychurch Road is let on an Assured Shorthold Tenancy at a rent of £525.00 pcm.
The store is let at a rent of £1,200 per annum.
Total rents reserved £26,700 per annum.
EPC'S
141 St. Marychurch Road - Awaited.
141A St. Marychurch Road - C. (Expires December 2033).
141B St. Marychurch Road - C. (Expires December 2033).
Store - Exempt.
LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
Interested parties are requested to be mindful and respectful of all tenants ongoing occupation.
Energy Performance Certificates
Energy Performance CertificateBrochures
Torquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Torre Station0.9 miles
- Torquay Station1.3 miles
- Paignton Station3.4 miles
Notes
Disclaimer - Property reference 12686192. 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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