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Teignmouth

Offers in Excess of
£350,000

Business rates & charges may apply

Bettesworths, Devon
SIZE

Ask agent

SECTOR

Commercial property for sale

Key features

  • Industrial Investment Opportunity (Business Unaffected)
  • Prominently Located Multi-Unit Garage & MOT Centre in Central Teignmouth
  • Let on Two Commercial Leases to Established Automotive Operator
  • Combined GIA 325m2 (3,500 sq ft). Combined Rent £27,350 Per Annum Exclusive
  • Scope for Growth - Rare Chance For Let Industrial Investment Acquisition

Description

Teignmouth is a popular South Devon coastal town within the Teignbridge district, benefiting from strong local demographics, tourism and transport links.Station Yard Business Park is situated just off Lower Brimley Road, directly behind Teignmouth railway station, providing excellent accessibility for both customers and staff. The immediate surrounding area comprises a mix of residential and commercial uses, supporting consistent year-round trade.  

Mannor Garage comprises a well-established and prominently located multi-unit automotive and MOT premises within Station Yard Business Park, Teignmouth.The property forms part of a small and established industrial estate of 7 units, situated immediately adjacent to Teignmouth railway station and within close proximity to the town centre. The location provides excellent accessibility and consistent local trade.The investment being sold is made up of Units 1 & 2 (combined workshop and offices) together with Unit 4 (MOT testing facility), totalling approximately 325m² (3,500 sq ft) with demised parking for approximately 18 vehicles. The premises are fully let to Brixham Garage Limited, a well-established automotive operator, benefitting from personal guarantees. This represents an opportunity to acquire a secure, income-producing industrial investment in a strong local trading position with a long-standing tenant.

INVESTMENT SUMMARY

Established automotive premises in central Teignmouth.

Fully let to a long-standing and experienced operator.

Total income: £27,350 per annum exclusive.

5 yearly rent reviews providing scope for growth.

FRI lease structure with tenant responsible for outgoings.

Strong local trading location adjacent to railway station.

TENANCY & LEASE SUMMARY

The properties are fully let on two commercial underleases to Brixham Garage Limited:

Units 1 & 2

Rent: £18,500 per annum exclusive

Lease term: 10 years, to February 2033

Rent reviews: 5 yearly upward only

Unit 4

Rent: £8,850 per annum exclusive

Lease term: 10 years, to February 2033

Rent reviews: 5 yearly upward only

Covenant

Tenant: Brixham Garage Limited with Directors' Personal Guarantees

REPAIRING OBLIGATIONS

Effectively Full Repairing and Insuring (FRI) via underlease structure, with tenant responsible for ground rent, service charge, insurance and associated costs.

TENURE

Long Leasehold Investment.

The units are owned on two underleases dated 1988 for 125 years (less 2 days).

A lease extension can form part of a sale of the investment.

The investment is offered subject to the existing tenancies.

ACCOMMODATION

The property comprises:

UNIT 1 & 2 (COMBINED)

51' 7'' x 44' 11'' (15.72m x 13.7m)

Workshop, reception office, second office, WC/store.

UNIT 4

49' 10'' x 23' 3'' (15.18m x 7.08m)

MOT testing bay with associated facilities.

Roller shutter access to all units.

Eaves height approx. 4.6m.

Three phase power and gas supply.

External yard with parking for approximately 18 vehicles.

LEGAL COSTS

Each party to bear their own legal costs incurred in the transaction.

EPC RATINGS

Unit 1 -2 – E.
Unit 4 - E.

VIEWING

The tenant's business is entirely unaffected by the sale and interested parties are requested to be respectful and non-intrusive.

Viewing is strictly by prior appointment with the Sole Agents. Informal viewing or tenant contact will not be tolerated.

Energy Performance Certificates

Energy Performance Certificate

Brochures

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Teignmouth Station0.1 miles
  • Dawlish Station2.6 miles
  • Dawlish Warren Station4.1 miles

About Bettesworths, Devon

221 St Marychurch Road, Torquay, Devon, TQ1 4NB

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 12842846. 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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