Terraced house for sale in Paignton, Devon TQ3

£310,000
2 1 1
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Property features

  • Convenience store, diverse additional products
  • Weekly turnerover approx. £7230.76
  • Located on a prime position
  • Recent full refurbishment to high standard, inc refurb 2 bed apartment, poss sub let with scope to expand

Property description

Reference - 46233

Description
This is a delightful opportunity to purchase Lynne’s Grocery Store, which occupies a prominent main road trading position, close to the seafront in the centre of Paignton, in Torquay.

This large corner store offers a full refurbishment to a higher than usual standard, a basement, and incorporates a 2 bedroom apartment on a separate title deed, which could be sub let or used as owners accommodation. This owners apartment recently underwent a £40,000 renovation/refurbishment.

The site offers excellent scope for the owner to expand upon the success and hard work that the current owners have already achieved.

The store has been owned by the current vendors for the last 35 years. Previously the shop has traded as a vhs video hire store, then an American diner and now operates, since 2013, as a convenience store specialising in high end Asian products. The store also offers a unique service of small world money transfer. This is the only store in the area offering this service with suprisingly high commissions paid. In addition the store offers Moneygram, Payzone, Parcel hub and a whole range of general convenience goods, laid out over the impressively refurbished 1200 sq ft shop floor area.

Paignton is an all year round touristic seaside town located in Torquay. The store is 10 minutes drive from the main A380 link road to the M5 and beyond and is approximately 25 minutes drive from Plymouth. Paignton has a diverse culture and honest locals, who, with the help of the tourist population support the shop well.

The store is licensed for alcohol sales, lottery, payzone, cigarettes and a whole host of household goods, in addition to everyday groceries, including some fresh and frozen products, convenience products, tinned products, cards and newspapers. The store does not offer newspaper delivery rounds but there is some demand for this from the locals. In addition the vendors introduced an Asian supply within the store which has proved the most popular a

Sales
Current shop sales average £7230.76 approximately.

Accounts
Current records and accounts can be inspected after a viewing.

Trading Hours
Monday – Saturday 08:00 – 20:00
Sunday 09:00 – 19:00

Staff
The business is operated by the owner with 4 part time staff.

Building Internal
Lynne’s Grocery Store occupies a semi detached property with the ground floor and basement being utilised for business premises, while the separate 2 bedroom apartment is located to the first floor and has its own separate access.

The shop benefits from air conditioning and CCTV and is alarmed. The apartment above has its own separate services and can be accessed from the shop via a shared access or directly via a private access.

The store is bright and fitted with an array of modern shelfing and display stands. Within the displays are fridges and freezers for products, including alcohol and cigarettes.

To the rear of the store is a large store room and board room, this room could be utilised as additional storage if required.

A doorway to the left of the counter offers an area with a separate toilet.
Accessed from either in the store (modification would be required) or its current steep access from the adjoining corridor is the basement, which offers up to 1000 sq ft of storage space. (please note due to refurbishment access is restrictive to this space without additional minor modification)

The top floor of the property is privately owned and operates as a 2 bedroom appartment.

The business also benefits from a single car parking space, which is located to the front left hand side of the premises.

Residential Accommodation
The residential accommodation has its own separate entrance, or can be accessed from within the store, which was originally built around 1930 and has been extended.

The apartment has the address of 65B, there is a shared access to this apartment via a corridor in conjunction with 65A, which is privately owned.

The apartment recently underwent a full refurbishment at a cost of over £40,000 and offers the following;
• Modern kitchen with a selection of wall and base units. Electric hob and oven, gas boiler, under unit appliances
• Large lounge/dining room to the front of the property, stunningly presented with oak flooring and part carpeted, 2 large UPVc windows supply a large bright and airy feel.
• Two double bedrooms.
• Family bathroom with a delightful corner shower and tile effect laminated floor.

There is aslo access to a large terrace area, which could be utilised as a large rooftop garden (subject to planning).

Tenure
The property is being offered upon a freehold basis.
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Summary
Lynne’s Grocery Stores represents an ideal opportunity for a new owner to acquire a business in a unique position with exceptional potential in a desired location, offering excellent scope to develop further.

The business represents an ideal opportunity and demand is expected to be exceptionally high, therefore an early viewing is a must.

Building External
The business operates from a single fronted, dual aspect shopfront with a doorway that opens up into the main store area.

The counter area is located immediately upon the right of the store.

Externally there is plenty of on street parking freely available locally.

Additional Sales
dpd Parcels - £0.60 per parcel
Money Gram - £80/£90 pcm
Small World Transfer - £250 pcm

Nearby transport

  • Paignton (0.3 miles)
  • Torquay (1.9 miles)
  • Torre (2.6 miles)
  • Exeter International Airport (21.6 miles)
  • Cardiff Airport (67.0 miles)
  • Bristol Airport (75.1 miles)
  • Torquay Harbour Boarding Pontoon (2.4 miles)
  • Torquay - North Quay (2.4 miles)
  • Brixham Ferry Landing (3.7 miles)

Nearby schools

View all schools in Torbay
  • Sacred Heart Catholic School (0.1 miles)
  • Oldway Primary School (0.2 miles)
  • Curledge Street Academy (0.4 miles)
  • EF Academy Torbay (2.7 miles)
  • Huntercombe Hospital School Meadow Lodge (11.9 miles)
  • Exeter Tutorial College (19.7 miles)
  • The Brunel Academy (0.4 miles)
  • Paignton Community and Sports Academy (0.9 miles)
  • Cambian Devon School (SEN) (1.3 miles)
Note: Distance is shown as a straight line measurement

Local info for Torbay

About the neighbours in TQ3

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Kings Business Transfer, PR2 on +44 1772 913303 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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