Commercial property for sale in 57 High Street, Totnes, Devon TQ9

The property consists of a unique opportunity to acquire the investment of a listed prime retail unit in a prominent town centre location let to Children's Hospice South West. The open plan ground floor sales accommodation consists of parquet flooring and a good ceiling height leading to additional sales to the rear. The lower ground floor is accessed from the ground floor sales and provides further ancillary/storage accommodation with kitchenette, office and further store rooms to the rear.

The wide, approx. 7.11m, frontage from the High Street, benefits from additional return frontage down Castle Street where the entrance to the self contained residential flat above is accessed.

Location

Located in a prominent position in the heart of the popular market town of Totnes, no. 57 High Street benefits from ease of access to the local amenities and car parks.

The attractive, listed, former banking hall commands an end of terrace location adjoining the top of the Butterwalk & within close proximity to the Market Square. Totnes has a wealth of national and independent retailers and cafes including, Saltrock, Sea Salt, the Bowie gallery, Mountain Warehouse, Ben's Wine and Tapas, wh Smith & Superdrug.

Totnes is the second largest town in the South Hams with a population of approximately 10,000 people and serves a large area of surrounding parishes.

The town is known for its vitality and creativity, with a nationally recognised heritage, including a medieval town-centre layout.

The attractiveness and ease of accessibility to the surrounding countryside, ensure Totnes is regarded as a desirable place to live & work. It also benefits from national mainline railway links to London.

The property is understood to date back to the 1860's and No 57 is an attractive 2 storey property with an impressive columned and pedimented frontage returning to Castle Street.

Internally, the listed property provides characterful accommodation currently arranged to provide a ground and rear ground floor sales area with an ancillary lower ground floor.

Accommodation

All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).

Ground Floor Sales: Approx. 1,000 sq ft (92.91 sq m)
Basement Storage: Approx. 657 sq ft (61.04 sq m)
Total: Approx. 1,657 sq ft (153.95 sq m)

Planning

The amended use classes would mean this property could be used for E class uses. Please enquire for further information.

Rent / Price

£425,000 Guide Price. A purchase at this figure reflects a niy of 6.99% at the passing rent of £31,000 per annum (taking purchase costs at 4.33%).

Business Rates

From the Valuation Office Agency website () we understand that the current Rateable Value is £20,000 therefore making the approximate Rates Payable £9,980 per annum for 2023/24.

Services

We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

D (85)

Legal Fees

Each party to be responsible for their own legal fees in relation to this transaction.

VAT

We understand that the property has not been elected for VAT at this time. The landlord reserves the right to alter this election.