Investment For Sale, Newton Abbot, Devon

Popular South Devon market town 18 miles South West of Exeter and the M5 and benefiting from a main line rail service to London. Situated in the centre of town in a prominent location fronting Queen street with a range of local and national retailers, coffee shops and restaurants. Queen Street benefits from on street car parking and proximity to the main shoppers' car parks.

The Grade Ii Listed Victorian Mid Terrace Property With Full Height Shop Front And Rear Access For Servicing. The Main Shop Has Been Divided Up To Provide Private Consultation Rooms With Office And Stores To The Rear. The Upper Floors Provide Four Self-contained One Bed Flats Accessed From The Rear.

Location

Popular South Devon Market Town 18 Miles South West Of Exeter And The M5 And Benefiting From A Main Line Rail Service To London. Situated In The Centre Of Town In A Prominent Location Fronting Queen Street With A Range Of Local And National Retailers, Coffee Shops And Restaurants. Queen Street Benefits From On Street Car Parking And Proximity To The Main Shoppers' Car Parks.

Accommodation

All Areas Are Approximate And Measured In Accordance With The Rics Property Measurement (2nd Edition) On A Net Internal Basis.

Ground Floor: 1,133 Sq Ft (105.25 Sq M)

Planning

The Property (ground Floor) Has A Long History Of Occupation By The Consol Group, Initially By The Previous Feeholder And Then, From 2018, By Way Of A Lease Agreement.

A Well-established Business, With Continuity Of Occupation. A New Effectively Full Repairing And Insuring 10 Year Lease Agrement Now Held Wef From 29/09/2026 To Consol Tanning Limited With A Tenant Only Break At The End Of Year 5 Giving 6 Months Prior Written Notice. The Initial Rent Will Be £20,000 Per Annum Ex Reviewable Upward Only To Open Market Value On The Fifth Anniversary Of The Lease Date.

The Flats Have Been Sold Leasehold For A Term Of 125 Years (from 01/05/2002) Currently Paying A Ground Rent Of £100 Each Per Annum , Increasing To £200 Per
Flat Wef 0/05/2027, And Contributing To Repairs Of Structure, Outside And Common Areas. Further Information Available On Request

Rent / Price

Guide Price £215,000 Which Reflects A Net Initial Return Of 9.25% Allowing For Purchasers Cost Of 2.41%.

Business Rates

From The Valuation Office Agency Website (www.voa.gov.uk) We Understand That The Current Rateable Value Is £16,750 Per Annum For 2026/27.

Interested Parties Are Advised To Confirm The Rating Liability With Teignbridge Council.

Services

We Understand That Mains Electricity, Water And Drainage Are Connected To The Property However These Services Have Not Been Tested By The Agents. Interested Parties Should Make Their Own Enquiries.

Epc

C (60)

Legal Fees

Each Party To Be Responsible For Their Own Legal Fees In Relation To This Transaction.

Vat

All Figures Quoted Are Exclusive Of Vat If Applicable.