Retail premises for sale

Station Road, Teignmouth TQ14

Situation and description


This offers a chance to acquire a substantial property in the centre of Teignmouth, in Station Road linking the Toiwn centre to the Station. The property is currently let to the Bill Optical Group Ltd who are part of the Hakim Group Ltd who we understand are one of the largest Independent Opticians in the country. On the first, second and third floors with its own ground floor access is a spacious 5 bedroom flat. This is currently empty after a long term tenant recently vacated, and now offers the opportunity for a purchaser to either refurbish this and relet it, or consider development of the space into 2 flats, subject to all the necessary consents. The main line railway station and the beach are both a short walk from the property as is the Triangle and busy town centre plus the Lidl supermarket and pay and display car park.

Teignmouth is located approximately 12 miles south of Exeter, 8 miles north of Torquay, and 5 miles east of Newton Abbot. Road access to Teignmouth 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 12 miles away via the A380 dual carriageway, with Exeter offering a wider range of facilities and amenities. This is an opportunity to acquire a substantial town centre Investment premises with opportunities for refurbishment of the spacious apartment on the upper floors to increase the rental income.
Accommodation

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

Reception/ Retail Area 6.66m x 4.52m (21’10” x 14’10”) max
A spacious area with deep glazed bow window frontage with glazed entrance door. Lvt flooring. Reception counter.

Consultation Area 4.55m x 3.79m (14’11” x 12’5”) max
Open area with seating. Doors to ……

Consultation Room No 2 2.08m x 2.00m (6’10” x 6’6”) max
Power fitted into trunking to one wall. Overhead lighting as fitted. Lvt Flooring.

Consultation Room No 3 1.92m x 1.51m (6’3” x 4’11”) max
Power fitted into trunking to one wall. Overhead lighting as fitted. Lvt Flooring.

Consultation Room No 4 3.79m x 3.27m (12’5” x 10’9”) max
Trunking to one wall with power as fitted into wall mounted trunking. Wash hand basin to one corner.

Client Fitting area 1.71m x 1.45m (5’8” x 4’9”) max
Benching to one wall. Wash hand basin.

Lobby
Lobby area storage shelving with door to …

Toilet
low level WC suite and vanity basin with storage cupboards under.

Kitchen / Staff Room 5.46m x 4.48m (17’11” x 14’8”) max
Fitted with worktops with cupboards under with inset stainless steel sink unit with single drainer. Space for fridge under. Lvt flooring. Glazed door with security grill offering a rear entrance. Power and lighting as fitted. Under sink electric hot water boiler.

Door leading up to
First floor

Landing with doors to …..

Toilet
Low level WC suite with wash hand basin.

Airing Cupboard
Lagged hot water cylinder with electric immersion heater.

Office Store 5.32m x 4.71m (17’5” x 15’5”) max
Carpeted with windows to the side. Power and light as fitted. Currently used for storage but also suitable for additional office space etc
Second floor


Office / Store 5.83m x 5.42m (19’1” x 17’9”) max
Windows to 3 elevations. Useful storage or office space. Power and light as fitted. Suspended ceiling.
The maisonette

Separate entrance door off The Strand leads into a spacious Ground floor entrance lobby. Stairs leading up to ……
First floor

Half Landing - Doors leading to …..

Kitchen 3.74m x 2.53m (12’3” x 8’3”) max
Spacious room with a range of base units with an inset stainless steel sink unit with single drainer. Tiled splashback. Electric cooker point. Baxi wall mounted gas fired central heating boiler. 2 Windows to side plus part glazed access / fire escape door to the flat roof area.. Vinyl flooring. Former fireplace with over mantel. Shelving as fitted. Ample space for a dining table.

Stairs lead up to a landing with doors to …..

Bedroom No 1 / Dining Room 3.96m x 3.76m (12’11” x 12’4”) max
Window to rear. Wood floor. Feature fireplace with tiled surround.

Sitting Room 6.24m x 4.03m (20’5” x 13’3”) max
Spacious room with 2 large windows to the front making this a light and airy space. Wood floor. Radiator. Tiled fireplace with hearth. Shelving either side of the fireplace.

Stairs lead up to a half landing with ….

Separate Toilet
Low level WC suite with pedestal wash basin. Plumbing for washing machine. 2 windows.

Bedroom No 2 3.93 x 3.41m (12’10” x 11’2”) max
Window. Fireplace with inset cast iron grate with timber over mantel. Radiator.

Bedroom No 3 4.52m x 3.21m (14’10” x 10’6”) max
Large window. Light and airy room. Radiator. Fireplace with inset cast iron grate. Timber surround and timber over mantel.

Bedroom No 4 3.30m x 2.88m (10’10” x 9’5”) max
Window to front. Radiator. Shelving as fitted.
Second floor


Bathroom 4.02m x 3.10m (13’2” x 10’2”) max
Panelled bath. Pedestal wash hand basin. Low level WC suite. Radiator. Window to rear. Shower cubicle with tiled walls. Glazed screen to 2 elevations. Wall mounted heated towel rail.

Bedroom No 5 6.33m x 3.09m (20’9” x 10’2”) max
Windows to front. Into eaves. Fireplace with inset cast iron grate and timber surround.
Energy performance certificate

A commercial EPC has been obtained for the ground floor Opticians. A full version is available to download from the web site. The rating for the Office is: D 76. The Flat has a rating of: E 41
Services

We understand that mains electricity, water, drainage and gas are available to the premises.
Tenancies

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

Ground Floor Retail Premises
The premises are let on a 5 year Landlord External / Tenant Internal repairing lease to Bill Optical Ltd, who are part of the Hakim Group, from the 30th April 2025 (Expires on 29th April 2030) at a rent of £11,500 per annum payable quarterly in advance. There is not a rent review or break clause. The lease is within the Landlord and Tenant Act. The tenant reimburses the landlord for the buildings insurance premium.

The Hakim Group is a registered trademark of HO2 Management Limited (Company No: 05476134) which we believe are the largest family of independent opticians in the UK and Ireland with a turnover of £243 million and over 400 outlets.

Maisonette
The maisonette is currently vacant and in need of refurbishment, but the managing agents Lewis and Rowden have confirmed once refurbished, this could achieve around £1,300 per calendar month (£15,600 pcm) although it is a little large for a single letting. However, the maisonette could possibly be split into 2 smaller flats, subject to all the necessary planning and building regulation consents, with a 1 bedroom flat renting for £750 pcm and a 2 bedroom flat renting for £950 pcm.
Price and tenure

Offers are sought in excess of £225,000 for the freehold of this well located property currently producing an income of £11,500 per annum but with potential to increase this once the maisonette is refurbished and let to £27,000 - £30,000 pa. This would offer a significant uplift in the rental income and investment yield on the premises.
VAT

We understand that VAT is not payable on the rent or the sale price.
Rates

Rateable Value: - £10,500 (2026 Valuation List)

For the Business Rates payable please contact Teignbridge District Council Business Rates Department legal costs
Each party to bear their own legal costs involved in this transaction.
Anti money laundering regulations compliance

A successful purchaser will be required to provide proof of identity and address, plus proof of funds to satisfy the Anti Money Laundering requirements when Heads of Term are agreed
Viewing

Strictly by prior appointment only with the sole agent, for the attention of Tony Noon Ref (0931)