Seaway Road, Paignton, TQ3

Description

A substantial freehold mixed-use investment in Preston, Paignton, comprising a large ground floor shop with stores and garages, two self-contained first floor flats, all currently let, and a large second floor loft space with potential for conversion (STPP).

The building provides approximately 263.1 sq m (2,832 sq ft) of commercial and residential accommodation, together with a loft room and roof space of approximately 88.7 sq m (955 sq ft). With every unit tenanted, the property offers an established income from both its commercial and residential elements, while the loft gives a buyer a clear opportunity to add value in future, subject to planning permission and the necessary consents.

The property occupies a corner position on Seaway Road in Preston, an established part of Paignton within 2 minutes’ walk of the seafront and convenient for local shops, amenities and transport links, with Paignton station around a mile away.

Briefly comprising…

GROUND FLOOR SHOP

Approached from Seaway Road through a splayed corner entrance, the shop has a large open-plan trading area of approximately 10.90m x 8.70m (35'9" x 28'7") with generous window frontage. Behind the trading area are four further rooms suitable for use as offices or stores, a kitchen/preparation area and a WC, together with two garages with double doors that provide useful storage or workshop space. In all, the shop extends to approximately 167.8 sq m (1,806 sq ft).

FLAT 2

Reached via the communal first floor landing, Flat 2 is a one-bedroom flat with a kitchen, sitting room, bedroom and bathroom, extending to approximately 52.5 sq m (565 sq ft).

FLAT 2A

Also reached via the communal landing, Flat 2A has a living room with kitchen area, a bedroom and a shower room, extending to approximately 42.8 sq m (461 sq ft).

LOFT ROOM AND ROOF SPACE

On the second floor, the loft room measures approximately 6.41m x 4.16m (21'0" x 13'8") with eaves storage beyond. Including the eaves, the roof space extends to approximately 88.7 sq m (955 sq ft) and may lend itself to conversion to provide further accommodation, subject to planning permission and building regulations approval.

TENANCIES AND INCOME

All units are currently let. Copies of the lease and tenancy agreements are available from the agent on request.

ADDITIONAL INFORMATION

Tenure: Freehold, sold subject to the existing tenancies. Council tax: Flat 2 Band A, Flat 2A Band A. Business rates: the shop has a rateable value of £11,250. EPC ratings: Flat 2 - D, Flat 2A - TBC, commercial unit - D. Stamp duty: as a mixed-use property, non-residential SDLT rates are likely to apply, and purchasers should take their own advice.