Investment Properties for sale in Paignton

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Part vacant Commercial/Retail & Residential Investment

Paignton, Devon, England

  • Freehold Price: £300,000
Seller Reference: 0119
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Business Description
 
 
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Seller Reference: 0119
Request Details
Business Description
substantial retail shop/showroom together with loading bay and 2 storey warehouse premises (with vacant possession) along with a lock up shop and 2 residential flats (currently let). For Sale due to business relocation. Offers in the region of £300,000 Freehold

The property is situated on Winner Street close to the junction with Palace Avenue and the Palace Theatre, and a short distance from the main town centre shopping facilities. Occupiers close by include a Co-op Supermarket and a range of further convenience and specialists traders.

The premises comprise two retail shops on the ground floor with a central access/loading bay through to the rear where there is warehouse storage. On the first floor are two residential flats both let on AST’s. Vacant accommodation extends to approx. 331sqm (3567 sq ft)

Accommodation
Loading Bay 29.28m² (315sqft) with access to both retail units although in control of vendor. Stairs at rear to Warehousing
Shop 1 43.528m² (469sqft)
Currently let (holding over) to Classic Floors at £5200p.a. exclusive.

Shop 2 Retail area 51.05m² (550sqft)
office 9.56m² (101sqft)
rear show room 32.08m² (345sqft)
Vacant possession

Warehouse/storage—steps up from lading bay
Landing area 28.62m² (308sqft) WC off
Ground floor 56.16m² (605sqft)
First Floor 154.05m² (1658sqft) ( steep external stair)

First Floor Residential flats 1x1 bed and 1x 3 bed ( both let and not inspected)

Planning
This property offers a variety of potential redevelopment opportunities subject to consent.
At present we believe the commercial accommodation falls within Class E of the use classes order

Current Income
We understand that Shop 1 was let on 5 year lease at £5200 p.a. and the tenant is still in occupation and wishing to stay. No notices or negotiations about a lease renewal have been entered into.
We understand that both flats are let on assured shorthold tenancies details of which are awaited and understand that the income from these is around £1000 pcm.

EPC Details to follow

Rateable Value Council Tax
127 Winner Street RV £5000 127a Winner Street Band C
129 Winner Street RV £4850 129a Winner Street Band A
Tenure:
Freehold
Downloadable Documents:
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