An Ideally Located Investment Development Opportunity

An ideally located investment / development opportunity comprising of ground floor commercial premises (vacant possession) together with 3 x self-contained apartments in the very heart of Torquay, Devon. The ground floor is currently set up as a restaurant is offered equipped with tables, chairs, décor, bar (and paraphernalia) together with well equipped kitchen and the apartment are all occupied, generating an impressive income.  However, the restaurant would easily be converted into a further 2 x apartments or a commercial retail unit with owners accommodation (STP) early viewings are highly recommended.
 

LOCATION

These premises are located on Higher Union Street, taking advantage of high footfall, passing vehicular traffic and convenient parking immediately at side.  This area is known as Torre and is made up of many independent retailers and benefits from easy access to local bus, train station, town centre and harbour.  Torre is situated in the very heart of the perennially busy seaside resort of Torquay and because of recent redevelopments, it now finds itself in a highly populated area.

ACCOMMODATION

Large glass bay-windows to front and part glazed door into:

L-SHAPED DINING ROOM/BAR

4.89m x 4.48m & 3.24m x 3.46m

LADIES CLOAKROOM

Consisting of WC and wash hand basin

GENTS CLOAKROOM

Consisting of WC and wash hand basin

Steps up to:

DINING AREA 2

8.74m x 6.06m

Rear door to rear road.

Archway leading into:

STILL/PREP AREA

2.99m x 1.02m

Steps leading down to:

KITCHEN

3.64m x 2.90m

Of irregular shape measuring

WASH UP AREA/STORES

3.05m x 1.79m

LETTING APARTMENTS

There is a separate door to the right of the restaurant and stairs to 1st floor with 1 x one-bedroom apartment and staircase to 2nd floor with a 1 x two bedroom and 1 x one bedroom apartment.

All three apartment are let out on an AST agreements.

INCOME

Whilst the three flats generate and income of £1650 pcm (no increase for 2 year) and should you let the downstairs accommodation, this would provide an additional £1,160 pcm and collectively this would be approx. £33,750 per annum.

SERVICES

Mains electricity, gas, water and drainage are all connected. However, no testing of these services has been undertaken by the Agents, Lake and Ware Commercial

BUSINESS RATES

Please make your enquiries on the local valuation website (VOA) at www.voa.gov.uk (currently the property is fully exempt from business rates because of small business rates relief)

TENURE

Freehold

VIEWINGS

All viewings are to be by appointment through Ware Commercial

Tel: 01803 328880 or 01392 462266

Email [email protected]

Website: www.warecommercial.com