Studio flat for sale

Mixed Use Investment in Torquay Town Centre. Prime Commercial Pitch on Torquay’s Main High Street.

Located in Torquay Town Centre, the property is situated at the southern end of the pedestrianised Fleet Street. Directly opposite the unit is the popular Fleet Walk Shopping Centre which has attracted a variety of national and independent retailers, including Salt Rock, TK Maxx, Trespass, KFC, Poundland, Sports Direct and Deichmann Shoes. Fleet Streets proximity to Torquay’s harbourside makes it a high footfall area with many locals and tourists walking past the property all year round.

A mixed use investment, comprising a ground floor catering unit and a smart 3-bedroom flat.

The ground and first floor are let to a Noodle Bar operator on a 7-year lease from 10th June 2024 at a rent of £17,000 per annum.

The residential accommodation (Printers Level) is accessed via the rear of the property on Braddons Hill Road West. The flat is a spacious 3-bedroom property, with a private patio courtyard. The flat is currently let to a tenant on an Assured Shorthold Tenancy at a rent of £675pcm.

RETAIL UNIT

GROUND FLOOR AREA
71m² (764 sq ft) Stairs lead to:-

FIRST FLOOR

STOCK ROOM - 18' 3'' x 11' 7'' (5.55m x 3.53m)

STOCK ROOM/OFFICE - 22' 1'' x 12' 8'' (6.72m x 3.86m)

CUSTOMER WCS

RESIDENTIAL ACCOMODATION
Accessed via Braddons Hill Road West.

PATIO COURTYARD
A private, walled and gated entrance courtyard.

HALLWAY
With doors leading to:-

LOUNGE - 17' 0'' x 12' 3'' (5.18m x 3.74m)

KITCHEN - 8' 10'' x 6' 1'' (2.69m x 1.86m)

BEDROOM - 11' 7'' x 5' 7'' (3.52m x 1.71m)

BEDROOM - 15' 1'' x 10' 9'' (4.59m x 3.28m)

BEDROOM - 12' 5'' x 8' 4'' (3.79m x 2.54m)

BATHROOM - 12' 1'' x 4' 11'' (3.68m x 1.50m)

UTILITIES
The flat benefits from gas central heating and individual electric and water meters. The commercial unit is metered for electric and water.

TENURE
The freehold of the property is offered for sale, subject to the commercial lease and the assured shorthold tenancy.The Crystal shop (15 Fleet Street) is held by a separate owner on a freehold title. We understand this is to create a flying freehold.

LEASE
The commercial unit is currently let to a private individual trading as a Noodle Bar. Let on a 7-year lease from 10th June 2024 at a rent of £17,000 per annum. The tenant has an option to break on the 10th June 2028. The flat is let to a tenant on an Assured Shorthold Tenancy for the last 4 years, with a passing rent of £675pcm.

BUSINESS RATES
2023 List: £12,750. The commercial tenant is responsible for any business rates payable on their demise. Eligible business are able to claim Small Business Rates Relief on this premises.

COUNCIL TAX BAND
Residential accommodation - B.

EPC RATINGS
Commercial Unit - B. Residential Accommodation - D.

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

Council Tax Band: B
Tenure: Freehold