Inspired Rooms, 53-55 Market Street, Torquay

The property comprises a mixed-use retail and industrial investment with a number of asset management and development opportunities (subject to obtaining the requisite consents).

Arranged as two retail units and a large warehouse to the rear the property is fully let on a single lease to a tenant trading as a furniture superstore.

The ground floor retail units have been merged to form a single retail space and also link through to the rear warehouse, all are let on a single lease expiring 04.12.2026 and paying £24,000 per annum, reflecting a very low £1.50 per sq ft. We therefore consider the property offers evident asset management potential via improvement of the rents.

The upper parts of the retail units comprise residential accomodation and are sold off on a long leasehold basis.

Alongside the evident asset management potential via improvement of rents. We consider the property may also offer development potential via conversion to alternative uses, including residential (subject to the existing leases and any requisite consents).

The property benefits from a prominent frontage to Market Street, an established retail street close to the prime pitch of Union Street, with the surrounding area comprising similar mixed uses and local tenants.