Auction Lot: Mixed Use Investment in Newton Abbot Town Centre, Devon

FH Price: £215,000 Guide Price
An opportunity to acquire a mixed-use freehold investment in the heart of Newton Abbot, a market town of around 26,000 people serving a wide rural catchment in South Devon. The property sits on Queen Street, the town's principal retail thoroughfare, within a parade of independent and national occupiers and a short walk from the railway station, the market and the main town centre car park at Cricketfield.

The building runs to approximately 227 sq m (2,447 sq ft) gross internal over ground, first and second floors, with a loft above. The ground floor shop is let to Wellbeing in Action, a registered charity, on a periodic tenancy at a rent presently below market to reflect the tenant's charitable status, with a contracted step up to £10,000 per annum from 1 January 2027. Flat 1 on the first floor is let on an assured periodic tenancy at £600 per calendar month. Flat 2 on the second floor is available with vacant possession following the end of a corporate letting to Teignbridge District Council.

Two further parts of the building are presently producing nothing. The rear offices at R/O 56 do not form part of the charity's lease and are simply being used for temporary storage. They comprise two rooms with a kitchenette and WC, reached off the communal entrance hallway, and would suit letting as a self-contained office suite at an estimated £350 per calendar month. On the first floor, the bedsit has its own kitchen area and WC but no shower. Fitted out with one, it should let at around £500 per calendar month, or it could be let as a small self-contained office at around £250 per calendar month.

Taken together the lot offers immediate income, a known and contracted uplift on the shop, and three separate lettings to put back in. Interested parties should satisfy themselves as to the terms of the occupational tenancies, all of which are included in the legal pack.

A virtual tour of the property is available at