Retail premises for sale in The Strand, Dawlish EX7

Situation and description

This offers a chance to acquire the freehold of a substantial period Grade ll listed property in the centre of Dawlish, occupying one of the best locations in the town. The property has been used as an Estate Agents office for the last 40 years, more recently as Fulfords who are part of the Countrywide Group who are the UK’s largest Estate Agency network. On the first floor is a spacious self contained 2 bedroomed flat which is being sold off on a new 999 year lease. The Strand is the prime retail area in Dawlish with a wide range of national, regional and local retailers. The main line railway station and the beach are both only a short walk from the property as is the public gardens known as “The Lawn” which fronts the Strand.

Dawlish is located approximately 12 miles south of Exeter, 9 miles West of Newton Abbot and 3 miles North of Teignmouth. Road access to Dawlish is principally via the A379 which forms the picturesque coastal route from Exeter to Newton Abbot and onto Torbay. Access to the M5 motorway is available at junction 30 approximately 10 miles away with Exeter offering a wider range of facilities and amenities. This is an opportunity to acquire a prominent Investment premises in a sought-after location.

Accommodation

Brief details of the accommodation with approximate maximum internal dimensions are as follows:-

Office 9.57m x 2.42m plus 4.81m x 4.47m
(131’4” x 7’11” plus 15’9” x 14’8”) max
A spacious office in an “L” shape with glazed bay window and second bay incorporating the entrance door. Suspended ceiling with integrated strip lighting. Electric wall mounted heaters.

Rear Office 4.48m x 4.07m (14’8” x 13’4”) max
Currently divided into 2 offices with glazed partitions. Door to rear courtyard. Electric wall heaters. Suspended ceiling with integrated strip lighting. Walk in storeroom.

Kitchen Area 3.09m x 2.42m (10’2” x 7’11”) max
Located at the rear of the building comprising a range of wall and base units with worktops and inset stainless steel sink unit with single drainer. Cupboards under with wall units over. Tiled splashback.

Toilet
Low level WC suite with wash hand basin. Electric over sink water heater.

Rear Board Store 2.64m X 2.62m (8’8” X 8’7”) max
Rear brick and stone store with cobbled floor. Suitable for basic storage.

Courtyard

To the rear of the office is a walled courtyard area offering the chance for outside seating etc for the offices.

Energy performance certificate

A commercial EPC has been obtained for the ground floor office. A full version is available to download from the web site. The rating for the Office is: C 61. The Flat has a rating of: E 50

Services

We understand that mains Electricity, water and drainage are available to the premises.

Tenancies

The current tenancy and occupation details for the property are as follows: -

Ground Floor Retail Premises
The ground floor retail area is occupied by Countrywide Estate Agents (Trading as Fulfords Estate Agents) by way of a 10-year effective Fri lease from the 22nd November 2017 and expiring on the 21st November 2027 at a current passing rent of £14,200 per annum with an upwards only rent review at 5 years (22nd November 2022).

The lease includes a tenant break clause at the midway point with 6 months prior written notice. We understand the lease is inside of the security of tenure provisions of the landlord and tenant act.

Price and tenure

Offers are sought in the region of £149,500 for the freehold of this substantial Grade ll Listed building currently producing an income of £14,200 per annum and a gross return before purchase costs of 9.5%.

Rates

Rateable Value: - £10,750 (2017 Valuation List)

Rates payable please contact Teignbridge District Council Business Rates Department legal costs
Each party to be responsible for their own legal costs involved in this transaction.

Grade ll listing
Early C19. 2 storeys and attics stuccoed with slate roof. Parapet
and coping. 2 storey bow with original sashes, the upper floor retaining curved canopy. Doorcase with fanlight and dentil cornice
on console brackets. Sx 9676 Dawlish

Viewing

Strictly by prior appointment only with the sole agent, for the attention of Tony Noon Ref (0681)