Torquay
Business rates & charges may apply
- SIZE
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- SECTOR
Mixed use property for sale
Key features
- Freehold Mixed-Use Investment and Development Opportunity in Central Torquay
- Ground Floor Retail Unit Let at £15,000 Per Annum from September 2025
- Lease For 5 Years with Tenant Break Option in September 2028
- Upper Floors with Planning Permission for 2 X 2-Bedroom Flats and 2 X 1-Bedroom Flats
- Prominent Position Close to Torquay Harbourside, Town Centre & Seafront
Description
The property is situated in a highly central position on Fleet Street, one of Torquay’s principal retail and commercial streets. Fleet Street forms part of Torquay’s town centre and benefits from strong pedestrian flow, nearby public transport links and convenient access to the wider English Riviera. The location is well placed for Torquay Harbourside, the high street, the seafront, restaurants, cafés, leisure facilities and public car parking. The property comprises a mixed-use freehold building arranged with a ground floor retail and vacant upper floor accommodation. The ground floor is currently arranged as a jewellers with a recessed arcade frontage and a roller shutter, with open access into the main sales area, together with ancillary office, WC and store room accommodation.The ground floor is let to Warren James at a rent of £15,000 per annum. The upper floors are currently vacant and planning permission has been approved for the conversion of the upper floors to provide 4 residential units arranged as 2 x 1-bedroom flats and 2 x 2-bedroom flats, with permission valid until February 2028. Alternative development under permitted development rights may be possible.
GROUND FLOOR RETAIL UNIT
Approx. 128 sq m.
Arranged as a jewellers with recessed arcade frontage, roller shutter, open sales area, office, WC and store rooms.
UPPER FLOORS
Currently vacant.
The approved proposed scheme provides the following residential accommodation:
UPPER GROUND / FIRST FLOOR LEVELS
FLAT ONE
1-bedroom studio apartment with mezzanine bedroom. Approx. 38 sq m.
FLAT TWO
1-bedroom studio apartment with mezzanine bedroom. Approx. 37 sq m.
Communal space for ancillary provision including bin store and cycle racks.
SECOND FLOOR
FLAT THREE
2-bedroom apartment. Approx. 57 sq m.
THIRD FLOOR
FLAT FOUR
2-bedroom apartment. Approx. 57 sq m.
TENURE
The freehold interest is offered for sale, subject to the existing ground floor lease.
The ground floor is let on a 5-year lease from September 2025 at a rent of £15,000 per annum. The lease includes a tenant break option in September 2028.
ASKING PRICE
An asking price of £300,000.
PLANNING
Planning permission has been approved by Torbay Council under reference P/2023/1095 for the creation of 4 residential units to the upper floors, comprising 2 x 1-bedroom flats and 2 x 2-bedroom flats. Planning is understood to be valid until February 2028.
EPC RATING C
BUSINESS RATES
Business Rates are currently combined for the ground and upper floors and require reassessment.
Interested parties should make their own enquiries with the Local Billing Authority, Torbay Council.
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- Torquay Station0.8 miles
- Torre Station1.0 miles
- Paignton Station2.7 miles
Notes
Disclaimer - Property reference 12882894. 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.