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£1,350,000
Paignton, Devon, A Portfolio of Five Commercial/Residential
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Price:
£1,350,000 Get Prequalified Today
Contact:
01803 295433
Location:
Paignton, Devon
Description:
A Portfolio of Five Commercial/Residential Properties currently producing a Gross Annual Income of 118,000 per annum approx.
Details
The New English Riviera
The English Riviera's prime coastal position makes it one of the UK's most popular locations made up of three distinct towns of Torquay, Paignton and Brixham. Increasingly Torbay is raising its profile as a business location offering competitive commercial benefits as well as a great lifestyle.
Torbay Development Agency as the area's economic development company is spearheading the physical and economic regeneration of the new English Riviera.
Through private sector investment and the successful bidding for public sector funds, Torbay is experiencing a major investment over the next five years in excess of 400,000,000. This renewed confidence will act as a catylst for the Renaissance for the English Riviera and reposition Torbay as a leading European destination.
The Torquay central area has recently been classified as a Business Improvement District and Torquay also has purple flag status in its sights. Paignton town centre is currently applying for BID status.
Description
A mixed commercial/residential investment portfolio comprising five properties situated within the towns of Torquay and Paignton.
373-377 Torquay Road, Preston, Paignton
A substantial three storey property comprising a large car showroom/garage premises on the Ground Floor and 5 two bedroomed residential flats to the upper floors all let on Assured Shorthold Tenancies. The garage is let on a five year lease from 24 June 2010 at a rent of 16,000 per annum exclusive with a break clause in the tenant's favour at the end of the first year. An advertising hoarding to the side of the building is currently let at 1,000 per annum. The five flats produce rentals of 2,875 per calendar month.
1 St Pauls Road, Preston, Paignton
This property comprises a four bedroom detached house with double glazing immediately adjoining the Torquay Road premises and including small gardens. The property is currently let on an Assured Shorthold Tenancy at a rental of 795 per calendar month.
Fairholme, 4 St Matthews Road, Torquay
The property comprises a detached Victorian house with extension with accommodation including 5 one bedroom flats and a recently improved two bedroomed maisonette.
The property occupies a large plot with a large back garden on the lower level. Recent improvements have included expenditure on fire precaution works. The gross income from the six Assured Shorthold Tenancies amounts to approximately 33,000 per annum.
65 Westbourne Road And 78 Forest Road, Torquay
The property comprises an Edwardian house divided into 2 one bedroom flats with a shop attached to the side of the house and a parking space. The gross income is 13,100 per annum.
228a Union Street, Torre, Torquay
The property comprises an end-terrace building on three floors providing approximately 1,500 sq ft of office accommodation. The office premises are held on a 6 year fully repairing and insuring lease to Hele Hub CIC. The interior has recently been recarpeted and redecorated. The current rental is 11,000 per annum.
Property Type:
Commercial & Office Space for Sale
Sq feet:
1,500 sq. ft.
Amenities:
Parking
For sale by:
Agent/Broker
Phone:
01803 295433
Posted:
Contact:
01803 295433
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Let me know if you have any questions. – Irvine Nott & Co
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More About this Listing: Paignton, Devon, A Portfolio of Five Commercial/Residential
Paignton, Devon, A Portfolio of Five Commercial/Residential is a Commercial Property for Sale in Paignton DEV. Find other listings like Paignton, Devon, A Portfolio of Five Commercial/Residential by searching Oodle Marketplace for Commercial Property for Sale in Paignton DEV.
Paignton, Devon, A Portfolio of Five Commercial/Residential is a Commercial Property for Sale in Paignton DEV. Find other listings like Paignton, Devon, A Portfolio of Five Commercial/Residential by searching Oodle Marketplace for Commercial Property for Sale in Paignton DEV.