Studio flat for sale

Fully Let Mixed Use Investment in the Heart of Newton Abbot. Gross Rental Income Currently £59,685 Per Annum.

Sun Court occupies a prominent corner position on Wolborough Street, a pedestrianised retail parade in the heart of Newton Abbot town centre. Wolborough Street links directly to Courtenay Street, the town’s prime retail location and is home to a mix of national independent traders including Austins Department Store, as well as numerous retailers, catering outlets and professional service providers.Newton Abbot is a thriving market town, with a population of approximately 30,000. Well located in South Devon and serving much of Southern Dartmoor as a catchment, the town has mainline railway links and immediate dual carriageway access, linking the town to the M5 at Exeter. Sun Court is a corner located, three storey building of traditional construction arranged as a ground floor retail fronted office unit occupied by a long standing tenant trading as a Letting Agent, with a further commercial retail unit to the side of the property and six self-contained residential flats - 4 x studio flats and 2 x 1 bedroom flats.

GROUND FLOOR

16 WOLBOROUGH STREET
Aluminium shop front and door.

RETAIL UNIT
50.17m2

STORE ROOM - 5' 8'' x 19' 8'' (1.72m x 6m)
10.32m2

KITCHEN

REAR UNIT, SUN COURT
Accessed along service road at the side.Door to lobby leading to:

GROUND FLOOR - 32' 10'' x 16' 5'' (10m x 5m)
50m2 Sliding door. Stairs to:

FIRST FLOOR - 40' 8'' x 16' 5'' (12.4m x 5m)
62m2.Compartmentalised offices.

SECOND FLOOR

OFFICE - 15' 9'' x 18' 4'' (4.8m x 5.6m)
26.88m2.

RESIDENTIAL APARTMENTS
Accessed off the side service road. Door to shared lobby. Stairs to:

FIRST FLOOR

FLAT 1
Studio Apartment with separate Kitchen and Shower Room.

FLAT 2
Studio Apartment with separate Kitchen and Shower Room

FLAT 3
1 Bedroom Apartment with separate Living Room, Kitchen and Shower Room.

SECOND FLOOR

FLAT 4
Studio Apartment with separate Kitchen and Shower Room.

FLAT 5
Studio Apartment with separate Kitchen and Shower Room.

FLAT 6
Studio Apartment with separate Kitchen and Shower Room.

TENURE
TENUREThe property is for sale freehold, subject to the Occupational Leases and Assured Shorthold Tenancies. Carrick Johnson Management Services - A long term occupier, currently in the process of renewing their Full Repairing & Insuring Lease for a period of 3 years, at a rent of £17,325 per annum. Side Retail Unit - Let for 5 years from 2022 at a rent of £4,800 per annum.

RENTS
UNITRENT PER MONTHRENT PER ANNUM1 Sun Court/Office£17,325Rear Retail/Offices£4,800Flat 1£550£6,600Flat 2£435£5,220Flat 3£575£6,900Flat 4£550£6,600Flat 5£525£6,300Flat 6£495£5,940TOTAL£59,685

BUSINESS RATES & COUNCIL TAX
All residential units are all Band A rated for Council Tax.16 Wolborough Street - Rateable Value - £13,500.1 Sun Court - Rateable Value - £6,600.

EPC RATINGS
Flat 1 - E.Flat 2 - E.Flat 3 - E.Flat 4 - C.Flat 5 - E.Flat 6 - C.Commercial - Awaited.

LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.

VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths. Interested parties are requested to be respectful of the tenants ongoing businesses and quiet enjoyment.

Council Tax Band: A
Tenure: Freehold