Retail premises for sale in Old Mill Road, Chelston, Torquay TQ2

Description

A promising investment opportunity awaits with this property, featuring a generously proportioned commercial unit situated at the forefront of the building, complemented by a potential separate residential apartment towards the rear, subject to obtaining appropriate consents and planning permissions. Offered without an onward chain, this property has seen initial refurbishment works completed. Only second fixings are needed to enable customization tailored to the prospective owner's preferences.

Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.

Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.

Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.

Tenure: Freehold
The current owner has informed us that the property is titled freehold.

Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.

Shop

It is conveniently located on Old Mill Road and features a prominent entry facilitated by a glazed door, which allows seamless access to the inviting shop front. A spacious interior is illuminated by a sizable glazed window, enhancing visibility and appeal to potential clients. Additionally, a back office area is accessible via a connecting hallway or storage room. This versatile space offers potential for subdivision, with the option to create distinct zones for both the commercial unit and a prospective residential apartment.

Residential Apartment

The residential apartment, envisioned to occupy the rear portion of the unit, adheres to the layout delineated in the supplied floor plan. Comprising a lounge/diner at the rear, alongside a kitchen, a bedroom, and a shower room. Access points into the apartment are strategically positioned, facilitating entry from both the hallway and the lounge/diner. Moreover, outdoor space amplifies this property's appeal. Access is facilitated through a private lane adjacent to Sherwell Park, running parallel to Old Mill Road.