MapMixed use for sale
Paignton TQ4
Mixed use
Features and description
- Mixed Use Freehold Investment Premises
- Prime Location on Paignton's Torbay Road
- Ground Floor Retail Unit Let to Established Business
- Two Residential Flats Let on Assured Shorthold Tenancies
- Producing an Income of Over £29,000 PA
Mixed Use Freehold Investment Premises. Ground Floor Retail Unit Let to Established Business.
Situated on Torbay Road, which connects Paignton town centre to the seafront, the premises enjoys the best of both Paignton's busy retail centre and the more tourist focussed area of town. It is also walking distance to Paignton’s Sea Front, Town Centre and rail & coach station. The area is a highly sought after residential and commercial location.
A terrace property with ground floor commercial unit currently let at a rent of £14,000 per annum. The lease is on a rolling yearly term with repairing and insuring obligations. The 2 residential apartments are accessed via an external staircase at the rear of the property.
73a is let on an AST at a rent of £600 per month, 73b, a maisonette, is let for £695 per month. The current set up lends itself perfectly to either retaining under one freehold as a mixed-use investment or, to split the units on separate titles to realise a potential capital uplift.
RETAIL UNIT – 80.63m2
Shop frontage opening on to the pavement with fixed awning and roller shutter. Main trade area, storeroom, staff cloakroom. Rear access.
SELF CONTAINED RESIDENTIAL ACCOMMODATION
Access via rear lane and external staircase. The apartments are separately metered for gas & electricity. Water is included in the monthly rent.
73A APARTMENT
Hall, bathroom, double bedroom with rear aspect, open plan lounge and fully fitted kitchen with front aspect.
73B MAISONETTE
Hall, WC, double bedroom with rear aspect, fully fitted kitchen and lounge with front aspect. Stairs to first floor. Family bathroom, double bedroom.
GENERAL INFORMATION
TENURE
The property is being sold Freehold, subject to the commercial lease and the residential Assured Shorthold Tenancies.
COMMERCIAL LEASE
The retail unit is let on a yearly rolling commercial lease. A percentage of the buildings insurance is included in the rent.
RATEABLE VALUE
2023 List: £9,800. Please note this is not Rates Payable. The tenant is responsible for all Rates Payable.
COUNCIL TAX BAND A
SERVICES
The premises is connected to all mains services.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths. Tel.[use Contact Agent Button]. All interested parties are politely requested to respect the tenants' quiet enjoyment of the property.
EPC RATINGS
73 Torbay Road - C. 73A Torbay Road - D. 73B Torbay Road - D.
Council Tax Band: A
Tenure: Freehold
Situated on Torbay Road, which connects Paignton town centre to the seafront, the premises enjoys the best of both Paignton's busy retail centre and the more tourist focussed area of town. It is also walking distance to Paignton’s Sea Front, Town Centre and rail & coach station. The area is a highly sought after residential and commercial location.
A terrace property with ground floor commercial unit currently let at a rent of £14,000 per annum. The lease is on a rolling yearly term with repairing and insuring obligations. The 2 residential apartments are accessed via an external staircase at the rear of the property.
73a is let on an AST at a rent of £600 per month, 73b, a maisonette, is let for £695 per month. The current set up lends itself perfectly to either retaining under one freehold as a mixed-use investment or, to split the units on separate titles to realise a potential capital uplift.
RETAIL UNIT – 80.63m2
Shop frontage opening on to the pavement with fixed awning and roller shutter. Main trade area, storeroom, staff cloakroom. Rear access.
SELF CONTAINED RESIDENTIAL ACCOMMODATION
Access via rear lane and external staircase. The apartments are separately metered for gas & electricity. Water is included in the monthly rent.
73A APARTMENT
Hall, bathroom, double bedroom with rear aspect, open plan lounge and fully fitted kitchen with front aspect.
73B MAISONETTE
Hall, WC, double bedroom with rear aspect, fully fitted kitchen and lounge with front aspect. Stairs to first floor. Family bathroom, double bedroom.
GENERAL INFORMATION
TENURE
The property is being sold Freehold, subject to the commercial lease and the residential Assured Shorthold Tenancies.
COMMERCIAL LEASE
The retail unit is let on a yearly rolling commercial lease. A percentage of the buildings insurance is included in the rent.
RATEABLE VALUE
2023 List: £9,800. Please note this is not Rates Payable. The tenant is responsible for all Rates Payable.
COUNCIL TAX BAND A
SERVICES
The premises is connected to all mains services.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths. Tel.[use Contact Agent Button]. All interested parties are politely requested to respect the tenants' quiet enjoyment of the property.
EPC RATINGS
73 Torbay Road - C. 73A Torbay Road - D. 73B Torbay Road - D.
Council Tax Band: A
Tenure: Freehold
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