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Torquay

£65,000

Business rates & charges may apply

Bettesworths, Devon
SIZE

Ask agent

SECTOR

Mixed use property for sale

Key features

  • Affordable Commercial Investment in Torquay Town Centre
  • Comprising a Shop and Two Residential Ground Rents (Flats Sold on Long Leases)
  • Potential Income £6,000 PA (Shop) & £400 PA (Ground Rents) (9.8% Initial Yield)
  • Well Presented & Easily Managed Investment Opportunity
  • Great Addition to an Existing Portfolio or for a First Time Investor - Opportunity not to be Missed!

Description

Affordable Commercial Investment in Torquay Town Centre. Comprising a Shop and Two Residential Ground Rents (Flats Sold on Long Leases).

The property is located on Tor Hill Road in the Castle Circus area of central Torquay. Situated in a parade of independent shops and offices, the property is conveniently located on the edge of Torquay's main retail high street, Union Street and is close to many town centre facilities.  The property comprises a ground floor lock up shop, well presented and occupied under a commercial lease. The remainder of the building comprises two separate self-contained, two bedroom residential flats, each with parking spaces.  Each flat has been sold on a separate 125 year lease.  

20 TOR HILL ROAD (THE SHOP)

A lock up retail unit comprising:-

RETAIL AREA

Approx: 31.5m2 (339 sq ft).
With a STORE ROOM & STAFF WC'S.

TENURE

The property is for sale freehold with vacant possession.

FIRST & SECOND FLOOR FLATS

Each flat has been sold on separate 125 year leases, commencing from April 2019.

The leases allow for a ground rent of £200 per annum per flat and each leaseholder contributes to one third of the cost of buildings insurance, repairs and maintenance to the building, on an as required basis.

PRICE

£65,000 Freehold.

LEGAL COSTS

Each party will be responsible for their own legal costs unless expressly agreed otherwise.

EPC RATING'S

20 Tor Hill Road (Shop) - C.
20A Tor Hill Road - D.
20B Tor Hill Road - D.

VIEWING

Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.

Energy Performance Certificates

Energy Performance Certificate

Brochures

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Torquay Station0.7 miles
  • Torre Station0.7 miles
  • Paignton Station2.7 miles

About Bettesworths, Devon

Fleet Street, Torquay, TQ1 1BB

Bettesworths is an independent family business, owned and run by the third generation Chartered Surveyor Directors, Matt & Paul.

We have an experienced team, highly skilled and expert in delivering a broad range of services to clients looking for the very best results.

Our breadth of experience across all property sectors, the depth of our day to day involvement and our technical knowledge gives Bettesworths an unrivalled platform from which to provide advice to meet our clients’ needs.

Our clients range from private individual property owners and occupiers to PLC institutions. We ensure each and every one is best supported with a service with which to meet the challenges and changes in the market and their own circumstances.

We offer free initial consultations without obligation, so please contact a member of our team to discuss your requirements.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 12695926. 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.

Map data ©OpenStreetMap contributors.

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