Torquay
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- SECTOR
Mixed use property for sale
Key features
- Well Managed Mixed Use Investment with Long Standing Tenants
- Comprising Retail Unit, 2 Bedroom Flat & 1 Bedroom Mews Flat
- Recently Renewed Commercial Tenancy
- Well Managed with Future Asset Management Opportunities
- Current Rental Income £28,665 Per Annum - Excellent Income Spread
Description
12 Lucius Street is located towards the top end of this busy and popular secondary parade, close to Torquay town centre. Lucius Street is home to a number of independent retailers and service providers, as well as being a convenient and popular residential location. Torquay town centre is approximately a quarter of a mile distant. In the other direction, Torquay seafront and promenade is also a quarter of a mile level walk away. Bus and transport links are particularly good, and the property is well situated for access to Torquay's main arterial road links. The property comprises a ground floor lock up retail unit, which has the benefit of a substantial lower ground floor rear storage unit and yard. The tenant, Greendale Flooring, has been in occupation for many years and has recently renewed the lease. Above the shop is a spacious, separately accessed and self-contained two-bedroom residential apartment. To the rear of the property accessed from Scarborough Place is an attractive exposed brick Mews - which provides a further one-bedroom flat. The combined rental income is £28,665 per annum.
12 LUCIUS STREET - RETAIL UNIT
Approx. 45m2 (484 sq ft).
Which includes office space/storage.
BASEMENT WORKSHOP/STORE
Approx 40m2 (430 sq ft) with yard/parking.
FIRST FLOOR FLAT - 12A LUCIUS STREET
Accessed from the front of the property via private entrance door. A spacious two bedroom flat, with living room, kitchen and shower room/WC.
From the rear of the property the MEWS COTTAGE (12 Scarborough Place) is accessed under the underpass entrance, used by the retail tenants, with steps leading to: The Mews Cottage comprising: Living Room/kitchen, Bedroom, Shower Room and WC.
1 BEDROOM, FIRST FLOOR FLAT
TENURE
The property is being sold Freehold, subject to the commercial lease and the residential tenancies.
12 Lucius Street is let to Greendale Flooring Limited, under a 3 year lease from August 2024.
The rent is £14,025 per annum, with CPI Linked rental uplifts, actionable at each anniversary of the lease (6th August, annually).
The tenant has Full Repairing responsibilities and is liable for 50% of the annual Property Owner's Insurance Premium.
12a Lucius Street is let under an Assured Shorthold Tenancy at a rent of £695.00 pcm
Rising to £795.00 in 2026.
The Rear Mews Cottage is let at a rent of £525.00 pcm (£6,300.00 per annum).
Total Rents Reserved: £28,665 per annum (Rising to: £29,865 in 2026).
UTILITIES
Each element of the property is independently serviced for water and electricity. Each occupier is responsible for their own utilities.
EPC'S
12 Lucius Street - Awaited.
12a Lucius Street - D (Expiring January 2031).
12 Scarborough Place - Awaited.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths. Tel. . Interested parties are requested to be mindful and respectful of all tenants ongoing occupation.
Brochures
Torquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Torquay Station0.5 miles
- Torre Station0.5 miles
- Paignton Station2.6 miles
Notes
Disclaimer - Property reference 12690693. 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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