£465,000
(£129.27/sq. ft)
Industrial for saleUnit 24, Torbay Business Park, Long Road, Paignton, Devon TQ4
3,597 sq. ft
About this property
Industrial investment comprising a modern mid terrace unit
Let to single tenant, in occupation since construction in the early 2000s.
Lease expiry in 2036, tenant break and rent review in 2031
Full repairing and insuring lease (excluding roof)
Net rent: £34,200 p.a.
Offers in excess of: £465,00o for the freehold, reflecting a niy of 7.04%
Steel portal frame (circa 6.5 metre eaves height), elevations and roof of insulated sheet metal cladding.
Glazed pedestrian entrance of powder-coated aluminium, and separate sectional up-&-over loading door (3.6m x 4.55m).
5 designated parking spaces plus loading apron in front of loading door.
Fitted out by the tenant with partial mezzanine floor, below which is a trade counter and above which are offices and welfare areas.
Industrial investment comprising a modern mid terrace unit
Let to single tenant, in occupation since construction in the early 2000s.
Lease expiry in 2036, tenant break and rent review in 2031
Net rent: £34,200 p.a.
Full repairing and insuring lease (excluding roof)
Torbay Business Park is one of the principal industrial locations in Paignton, and was built out in the early 2000s. It is located off Long Road, which connects with the A3022 Brixham Road, part of the Torbay Bypass which connects with the A380 to the north of Torquay, providing dual carriageway access to the M5 and the wider main road network at Junction 31 of the M5 south of Exeter, around 24 miles from the property.
A mid-terrace industrial unit constructed in the early 2000s by Midas Construction.
Steel portal frame (circa 6.5 metre eaves height), elevations and roof of insulated sheet metal cladding.
Glazed pedestrian entrance of powder-coated aluminium, and separate sectional up-&-over loading door (3.6m x 4.55m).
5 designated parking spaces plus loading apron in front of loading door.
Fitted out by the tenant with partial mezzanine floor, below which is a trade counter and above which are offices and welfare areas.
The property is not opted to tax so VAT is not chargeable on the purchase price.
Each party to bear their own legal costs in the transaction.
Assessed in band C (31) expiring 8/6/2031.
Let by way of a renewal lease to Devondale Electrical Distributors Limited (Co Reg 01588544) for a term of 10 years expiring on 29th March 2036. There are a tenant break option and rent review (upward only to Market Rent).
The lease is on full repairing and insuring terms but the tenant's repairing obligation excludes the roof.
The passing rent is £34,200 per annum exclusive.
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