Property for sale

Fleet Street, Torquay TQ2

Freehold Mixed-Use Investment and Development Opportunity in Central Torquay. Ground Floor Retail Unit Let at £15,000 Per Annum from September 2025.

The property is situated in a highly central position on Fleet Street, one of Torquay’s principal retail and commercial streets. Fleet Street forms part of Torquay’s town centre and benefits from strong pedestrian flow, nearby public transport links and convenient access to the wider English Riviera. The location is well placed for Torquay Harbourside, the high street, the seafront, restaurants, cafés, leisure facilities and public car parking.

The property comprises a mixed-use freehold building arranged with a ground floor retail and vacant upper floor accommodation. The ground floor is currently arranged as a jewellers with a recessed arcade frontage and a roller shutter, with open access into the main sales area, together with ancillary office, WC and store room accommodation.

The ground floor is let to Warren James at a rent of £15,000 per annum. The upper floors are currently vacant and planning permission has been approved for the conversion of the upper floors to provide 4 residential units arranged as 2 x 1-bedroom flats and 2 x 2-bedroom flats, with permission valid until February 2028. Alternative development under permitted development rights may be possible.

Ground Floor Retail Unit

Approx. 128 sq m.
Arranged as a jewellers with recessed arcade frontage, roller shutter, open sales area, office, WC and store rooms.

Upper Floors

Currently vacant.
The approved proposed scheme provides the following residential accommodation:

Upper Ground / First Floor Levels

Flat One

1-bedroom studio apartment with mezzanine bedroom. Approx. 38 sq m.

Flat Two

1-bedroom studio apartment with mezzanine bedroom. Approx. 37 sq m.

Communal space for ancillary provision including bin store and cycle racks.

Second Floor

Flat Three

2-bedroom apartment. Approx. 57 sq m.

Third Floor

Flat Four

2-bedroom apartment. Approx. 57 sq m.

Tenure

The freehold interest is offered for sale, subject to the existing ground floor lease.

The ground floor is let on a 5-year lease from September 2025 at a rent of £15,000 per annum. The lease includes a tenant break option in September 2028.

Asking Price

An asking price of £300,000.

Planning

Planning permission has been approved by Torbay Council under reference P/2023/1095 for the creation of 4 residential units to the upper floors, comprising 2 x 1-bedroom flats and 2 x 2-bedroom flats. Planning is understood to be valid until February 2028.

EPC Rating C

Business Rates

Business Rates are currently combined for the ground and upper floors and require reassessment.

Interested parties should make their own enquiries with the Local Billing Authority, Torbay Council.

Viewing

Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.