£495,000
Studio flat for sale
Brixham TQ5
studio Flat Property description
Substantial Mixed Use Investment For Sale. A Great Opportunity for Investment, Breakup or Owner Occupation.
The property is located on Pillar Avenue in the Furzeham area of Brixham. This is a densely populated and convenient residential location served by this particular parade of commercial units but also being easily accessible for the town centre amenities. Brixham is a vibrant fishing port town on the South Devon Coast. Along with the neighbouring towns of Paignton and Torquay, it makes up the larger combination of Torbay. The property comprises a purpose built retail unit in a parade block, with a large residential maisonette over. The retail unit has been operating for many years as a convenience store, most recently under the Costcutter brand. The other occupiers in the parade include an Ironmonger and a cafe. Over the shop and separately accessed via an external staircase and entirely self-contained is a 4/5 bedroom maisonette. This substantial residential dwelling has scope either to continue as a large family home or potentially to split into two separate units, subject to necessary consent. To the rear of the property is a carpark, which is demised to the retail tenant.
GROUND FLOOR RETAIL UNIT - Approx. 230m2 (2,475 sq ft)
With internal ancillaries, storage and external remote storage space.
CAR PARK
RESIDENTIAL ACCOMMODATION
Generously proportioned residential accommodation arranged over first and second floor level with large rooms and views over Brixham towards the sea.
TENURE
The property is being sold freehold. The freehold is subject to the Occupational Lease granted to Cost Cutter summarised below. Lease Date: 2nd April 2012. Term: 20 Years. Tenant: Costcutters Supermarkets Group Ltd (now part of the Bestway Wholesale Group). Rent Review: 2026 and 2029.Repairing Obligations: Full Repairing Obligations. Break Clause: N/A.
RESIDENTIAL MAISONETTE
Being sold with Vacant Possession.
POSSIBLE SPLIT OF PROPERTY
Our client would give consideration to selling the retail investment and the residential element separately with the following guide prices. Retail Investment: £290,000. Residential Maisonette: £240,000.
COSTCUTTER SUPERMARKET GROUPS LTD
Costcutter Supermarkets Limited is a well established UK convenience retail business founded in 1986. The company trades from over 1,500 stores across the UK. In mainly neighbourhood retail locations. Costcutter is own by Bestway Wholesale part of the Bestway Group, the UK's largest independent food and drink wholesaler. The business has a reported turnover of around £3.4b (2023) with group operating profits reported to be in excess of £100m.
VAT
The property is not opted for VAT and therefore VAT will not be chargeable on rents or on purchase.
EPC RATING'S
64-66 Pillar Avenue - Expired. 64a Pillar Avenue - Awaited.
COUNCIL TAX
64A Pillar Avenue has a Council Tax Band C assessment.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
The property is located on Pillar Avenue in the Furzeham area of Brixham. This is a densely populated and convenient residential location served by this particular parade of commercial units but also being easily accessible for the town centre amenities. Brixham is a vibrant fishing port town on the South Devon Coast. Along with the neighbouring towns of Paignton and Torquay, it makes up the larger combination of Torbay. The property comprises a purpose built retail unit in a parade block, with a large residential maisonette over. The retail unit has been operating for many years as a convenience store, most recently under the Costcutter brand. The other occupiers in the parade include an Ironmonger and a cafe. Over the shop and separately accessed via an external staircase and entirely self-contained is a 4/5 bedroom maisonette. This substantial residential dwelling has scope either to continue as a large family home or potentially to split into two separate units, subject to necessary consent. To the rear of the property is a carpark, which is demised to the retail tenant.
GROUND FLOOR RETAIL UNIT - Approx. 230m2 (2,475 sq ft)
With internal ancillaries, storage and external remote storage space.
CAR PARK
RESIDENTIAL ACCOMMODATION
Generously proportioned residential accommodation arranged over first and second floor level with large rooms and views over Brixham towards the sea.
TENURE
The property is being sold freehold. The freehold is subject to the Occupational Lease granted to Cost Cutter summarised below. Lease Date: 2nd April 2012. Term: 20 Years. Tenant: Costcutters Supermarkets Group Ltd (now part of the Bestway Wholesale Group). Rent Review: 2026 and 2029.Repairing Obligations: Full Repairing Obligations. Break Clause: N/A.
RESIDENTIAL MAISONETTE
Being sold with Vacant Possession.
POSSIBLE SPLIT OF PROPERTY
Our client would give consideration to selling the retail investment and the residential element separately with the following guide prices. Retail Investment: £290,000. Residential Maisonette: £240,000.
COSTCUTTER SUPERMARKET GROUPS LTD
Costcutter Supermarkets Limited is a well established UK convenience retail business founded in 1986. The company trades from over 1,500 stores across the UK. In mainly neighbourhood retail locations. Costcutter is own by Bestway Wholesale part of the Bestway Group, the UK's largest independent food and drink wholesaler. The business has a reported turnover of around £3.4b (2023) with group operating profits reported to be in excess of £100m.
VAT
The property is not opted for VAT and therefore VAT will not be chargeable on rents or on purchase.
EPC RATING'S
64-66 Pillar Avenue - Expired. 64a Pillar Avenue - Awaited.
COUNCIL TAX
64A Pillar Avenue has a Council Tax Band C assessment.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
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TodayBrixham TQ5
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Bettesworths - Commercial 29 - 30 Fleet Street Torquay, Devon TQ1 1BBCall agent on 01803 268852
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