Paignton
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Town Centre Lock Up Retail Investment
- Let on a Commercial Lease Expiring 21st April 2029
- Current Passing Rent of £11,500 Per Annum
- Established Tenant Trading as a Butchers for 10+ Years
- Strong Yield, Ideal for Pension Fund Investment
Description
The property is situated in a strong town centre position at the lower end of Palace Avenue, close to its junction with Torquay Road. This location benefits from consistent footfall and visibility, being within close proximity to Paignton’s primary retail and commercial areas. The surrounding area comprises a mix of independent retailers, service providers and national occupiers, making it an attractive trading position. The property will particularly appeal to investors seeking a well-located, low-management commercial asset in a busy coastal town centre. The property comprises a ground floor lock-up retail unit, currently occupied by a butchers, providing a well-established and active use within the local community. The investment offers a straightforward income-producing opportunity with a tenant in situ, making it suitable for both experienced and first-time commercial investors. The lease structure provides ongoing income with defined term certain remaining, enhancing its appeal as a secure investment. The upper parts of the building are held under separate ownership via a long lease, reducing landlord responsibilities to the commercial element only.
RETAIL
Frontage: 5.99m.
Depth: 8.45m.
STORE
15' 7'' x 11' 1'' (4.75m x 3.38m)
STORE
20' 4'' x 13' 9'' (6.20m x 4.18m)
STORE
11' 3'' x 4' 11'' (3.42m x 1.51m)
WC
BASEMENT
37' 4'' x 21' 2'' (11.39m x 6.44m)
The basement has not been tanked and therefore this space is only utilised to run services and for light storage of non-perishables.
TENURE
Freehold, subject to the existing commercial lease.
The upper parts are held on a long lease expiring in 2175, with a ground rent of £50 per annum and sharing any costs of building insurance and maintenance.
TENANCY
The property is let to a private individual, trading as Palace Premier Meats. The property is let on a 15-year lease from April 2014 at a rent of £11,500 per annum. The lease is internal repairing and insuring including the shop windows and canopy.
SALE PRICE
£115,000 Freehold.
EPC RATING C
BUSINESS RATES
2026 List: £11,000
Interested parties are advised to make their own enquiries with the local billing authority regarding rates payable and any applicable reliefs.
LEGAL COSTS
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
VIEWING
Is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Energy Performance Certificates
Energy Performance CertificateBrochures
Paignton
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Paignton Station0.2 miles
- Torquay Station2.1 miles
- Torre Station2.8 miles
Notes
Disclaimer - Property reference 12841965. 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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