MapMixed use for sale
Torquay TQ2
Mixed use
Features and description
- Mixed Residential & Commercial Investment Property in a Well Populated Residential Area
- Retail Unit Long Term Occupied as a Pharmacy
- Retail Rent £6,000 Per Annum, with Scope for Rental Growth
- Large 2 Bedroom Maisonette Currently Vacant
- Maisonette Requires Modernisation An Opportunity to Add Value
Mixed Residential & Commercial Investment Property in a Well Populated Residential Area. Retail Rent £6,000 Per Annum, with Scope for Rental Growth.
Sherwell Valley Road is a popular residential location in the Chelston district of Torquay. Commercially, the property is close to a Morrisions Daily Convenience Store, a fish & chip shop, Post Office and a public house. These commercial properties serve a dense population of local residents.
The ground floor of the property is let to a Pharmacy (long term occupier) serving local residents.
73 Sherwell Valley Road comprises a ground floor lock up retail unit, with a substantial two bedroom maisonette over. The lock up retail unit fronts to street level. The residential accommodation over is accessed via an underpass between numbers 37 and 35.
The maisonette is currently Vacant and requires redecoration and modernisation. The property is priced to reflect this and offers purchasers an opportunity to add value through refurbishment.
RETAIL AREA
45m2 (4,843 sq ft)With small store & WC.
FIRST FLOOR MAISONETTE
Layout, Dimensions and Photographs overleaf.
OUTSIDE
To the rear of the property is a large terraced garden that extends up to St Peters Mews at the rear. Other property owners in the terrace have used this upper level for garaging or workshop construction.
TENURE
The property is for sale freehold, subject to the occupational lease granted on the shop. The lease is to Poolearth Torquay Limited, part of the Poolearth Pharmacy Group. Poolearth operate 8 pharmacies across South Devon. The current rent is £6,000 per annum, the lease is for a term of 5 years from 1st May 2020 ending 30th April 2025. The lease carries Full Repairing and Insuring liabilities on the tenant. The Maisonette - 37a Sherwell Valley Road is currently vacant and being sold with Vacant Possession.
VAT
We have been informed that the property is not opted for VAT.
LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.
UTILITIES
We are informed that each element of the property has an independent electricity and water supply. Two electric single sub meter supply.
EPC RATINGS
37 Sherwell Valley Road - C. 37A Sherwell Valley Road - E.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
Sherwell Valley Road is a popular residential location in the Chelston district of Torquay. Commercially, the property is close to a Morrisions Daily Convenience Store, a fish & chip shop, Post Office and a public house. These commercial properties serve a dense population of local residents.
The ground floor of the property is let to a Pharmacy (long term occupier) serving local residents.
73 Sherwell Valley Road comprises a ground floor lock up retail unit, with a substantial two bedroom maisonette over. The lock up retail unit fronts to street level. The residential accommodation over is accessed via an underpass between numbers 37 and 35.
The maisonette is currently Vacant and requires redecoration and modernisation. The property is priced to reflect this and offers purchasers an opportunity to add value through refurbishment.
RETAIL AREA
45m2 (4,843 sq ft)With small store & WC.
FIRST FLOOR MAISONETTE
Layout, Dimensions and Photographs overleaf.
OUTSIDE
To the rear of the property is a large terraced garden that extends up to St Peters Mews at the rear. Other property owners in the terrace have used this upper level for garaging or workshop construction.
TENURE
The property is for sale freehold, subject to the occupational lease granted on the shop. The lease is to Poolearth Torquay Limited, part of the Poolearth Pharmacy Group. Poolearth operate 8 pharmacies across South Devon. The current rent is £6,000 per annum, the lease is for a term of 5 years from 1st May 2020 ending 30th April 2025. The lease carries Full Repairing and Insuring liabilities on the tenant. The Maisonette - 37a Sherwell Valley Road is currently vacant and being sold with Vacant Possession.
VAT
We have been informed that the property is not opted for VAT.
LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.
UTILITIES
We are informed that each element of the property has an independent electricity and water supply. Two electric single sub meter supply.
EPC RATINGS
37 Sherwell Valley Road - C. 37A Sherwell Valley Road - E.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
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