£200,000
(£132.72/sq. ft)
Property for salePrecinct News, Fore Street, St. Marychurch, Torquay TQ1
1,507 sq. ft
Just added
Freehold
About this property
Freehold Mixed-Use Investment
Fully Repairing & Insuring Lease
Established Tenant
St Marychurch Pedestrian Precinct
Ground Floor Retail Shop Front
Three-Bed 1st-Floor Accommodation
Substantial Basement Storage
Rear Garden with Gated Access
Description
A rare opportunity to acquire a freehold mixed-use investment property, prominently positioned within the heart of St Marychurch's pedestrianised shopping precinct in Torquay.
The property is currently let to an established tenant trading as Precinct News, who also occupies the accommodation within the building. The business itself is not included in the sale, with the property being sold subject to the existing occupational lease and with the tenant remaining in situ.
The premises are arranged over two levels and include a shop frontage to the pedestrian precinct, together with a range of further accommodation extending to the rear and upper parts of the building. The layout includes ancillary areas such as a kitchen, WC, office/store space, utility area and a substantial lower ground floor cellar/basement, which is currently used for storage.
The upper floor provides further well-proportioned accommodation, including three double bedrooms, a kitchen, living room, modern shower room and separate WC.
Externally, the property benefits from a rear garden with separate gated access leading towards Chilcote Close, where there is a Torbay Council car park, providing a convenient position for both occupiers and visitors to the precinct.
The current lease is understood to be a fully repairing and insuring lease, with approximately four years remaining. The property is currently generating an approximate yield of 8%, with no additional landlord costs understood to be payable due to the structure of the existing lease.
This is an attractive freehold mixed-use investment opportunity in a well-established and picturesque trading location, offered with an experienced tenant in occupation and ongoing rental income from completion.
Interested parties should satisfy themselves as to the precise use, rating assessment, council tax position and lease arrangements.
Tenure: Freehold
A rare opportunity to acquire a freehold mixed-use investment property, prominently positioned within the heart of St Marychurch's pedestrianised shopping precinct in Torquay.
The property is currently let to an established tenant trading as Precinct News, who also occupies the accommodation within the building. The business itself is not included in the sale, with the property being sold subject to the existing occupational lease and with the tenant remaining in situ.
The premises are arranged over two levels and include a shop frontage to the pedestrian precinct, together with a range of further accommodation extending to the rear and upper parts of the building. The layout includes ancillary areas such as a kitchen, WC, office/store space, utility area and a substantial lower ground floor cellar/basement, which is currently used for storage.
The upper floor provides further well-proportioned accommodation, including three double bedrooms, a kitchen, living room, modern shower room and separate WC.
Externally, the property benefits from a rear garden with separate gated access leading towards Chilcote Close, where there is a Torbay Council car park, providing a convenient position for both occupiers and visitors to the precinct.
The current lease is understood to be a fully repairing and insuring lease, with approximately four years remaining. The property is currently generating an approximate yield of 8%, with no additional landlord costs understood to be payable due to the structure of the existing lease.
This is an attractive freehold mixed-use investment opportunity in a well-established and picturesque trading location, offered with an experienced tenant in occupation and ongoing rental income from completion.
Interested parties should satisfy themselves as to the precise use, rating assessment, council tax position and lease arrangements.
Tenure: Freehold
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