Torquay
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Mixed Use Freehold Investment Premises
- Mix Use Mid-Terraced Premises Close to Torquay Town Centre
- Ground Floor Retail Unit Let on a 6 Year Lease £5,500 PA from Dec 2025
- Two Residential Flats Let on Assured Shorthold Tenancies
- Generating an Income of £20,200 PA - 9.4% Yield
Description
The property benefits from frontages onto Union Street at the front and Magdalene Road to the rear. It is arranged as three self-contained letting units. Union Street is Torquay’s principal retail high street and forms part of the town’s main shopping thoroughfare.The property is located towards the upper end of Union Street, an area which connects Torquay town centre with the nearby residential districts of Torre and Upton. A terrace property with ground floor commercial let on a 6 year Internal & Shop Front Repairing and Insuring Lease at a rent of £5,500 per annum from December 2025. The tenants are responsible for internal repairs and the reimbursement of the proportion of the insurance premium. There is a tenant’s option to break in December 2028.
The 2 residential apartments are accessed via a communal entrance at the front of the property, the lower ground floor flat also has a separate access point from Magdalene Road at the rear.The first floor flat is let at £550pcm and the lower ground floor flat is let at £675 pcm. The three units are producing a gross income of £20,200 per annum, making this a very worthwhile investment opportunity.
173 UNION STREET - GROUND FLOOR
Trading as a retail Shop. (Business unaffected). Comprises:-
FRONT RETAIL SPACE
24' 4'' x 12' 10'' (7.41m x 3.9m)
REAR RETAIL SPACE
8' 2'' x 7' 7'' (2.5m x 2.30m)
KITCHEN
6' 11'' x 4' 7'' (2.1m x 1.39m)
WC
BUSINESS RATES
2023 List: £3,200
The Cafe is let on a 6 year lease from Dec 2025, at a rent of £5,000 per annum, with a 3 year break clause and 3rd year rent review. The tenants are responsible for internal repairs and the reimbursement of the proportion of the insurance premium.
173A UNION STREET
FIRST FLOOR FLAT
Communal entrance from Union Street with steps up to:-
ENTRANCE
KITCHEN
9' 9'' x 5' 9'' (2.98m x 1.75m)
LOUNGE
13' 6'' x 11' 9'' (4.12m x 3.58m)
BEDROOM
11' 7'' x 12' 6'' (3.52m x 3.82m)
With door opening to balcony.
EN-SUITE SHOWER ROOM
With corner shower, WC and wash hand basin.
Steps from communal entrance down to:-
173B UNION STREET
LOWER GROUND FLOOR FLAT
Entrance door leads to:-
OPEN PLAN LIVING AREA
22' 9'' x 12' 8'' (6.94m x 3.87m)
KITCHEN
10' 4'' x 8' 11'' (3.16m x 2.73m)
CLOAKROOM
With WC and wash hand basin.
BEDROOM 1
8' 11'' x 9' 1'' (2.72m x 2.78m)
Steps down to:-
BEDROOM 2
10' 7'' x 13' 3'' (3.22m x 4.03m)
BEDROOM 3
8' 8'' x 8' 6'' (2.64m x 2.59m)
BATHROOM
With bath with shower over, wash hand basin and WC.
UTILITY ROOM
An entrance/access point from Magdalene Road.
TENURE
The property is being sold Freehold, subject to the commercial lease and the residential Assured Shorthold Tenancies.
PRICE
An asking price of £210,000.
COUNCIL TAX BAND A
VAT
The property is not elected for VAT.
LEGAL COSTS
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
EPC RATINGS
173 Union Street – 'C'
173b Lower Floor Flat – 'C'
173a First Floor Flat – 'E'
VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Energy Performance Certificates
Energy Performance CertificateBrochures
Torquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Torre Station0.5 miles
- Torquay Station0.7 miles
- Paignton Station2.8 miles
Notes
Disclaimer - Property reference 12853282. 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.