Property for sale

Lucius Street, Torquay TQ2

Mixed Use Investment Property in Popular Parade. Fully Let, Generating £2,400pcm (£28,800 pa).

Lucius Street is a well-established, edge of town centre shopping parade in Torquay, South Devon. Lucius Street has a vibrant mix of independent occupiers including retailers, professional services and office users. Being located close to the main town centre of Torquay, the seafront and the principle arterial routes of the town, Lucius Street is a very convenient trading location.

21 Lucius Street is a mixed-use investment property, comprised of a ground floor commercial unit, 4-bedroom flat and separate basement.

The commercial unit is let to an Aesthetics and Beauticians business at a rent of £800pcm on a rolling yearly lease. The residential accommodation is arranged as a 4 bedroom- flat over two floors. The accommodation is spacious and is let at £1,300pcm. The basement is currently let on a rolling lease at £300pcm and has its own independent entrance, accessed via the lane at the rear of the property. The basement could be utilised as a store/ workshop.

Commercial Unit

Previously arranged as two units but now combined and let to one tenant on a yearly rolling agreement at £800pcm.

Retail (31' 10'' x 9' 11'' (9.71m x 3.02m))

Treatment Room (21' 2'' x 6' 10'' (6.45m x 2.08m))

Store Room (14' 11'' x 5' 10'' (4.55m x 1.79m))

Treatment Room (24' 0'' x 8' 1'' (7.31m x 2.47m))

WC

Basement

The basement can be accessed internally via the commercial unit and independently via an entrance door on the rear lane. This allows the basement to be combined or let separately from the commercial unit.

Depth: 15.45m (50' 8'')
Width: 5.52m (18' 1'')

Arranged as 6 rooms with a small amount of natural light from light wells.

Residential Accomodation

Arranged as a 4-bedroom flat and let at a rent of £1,300pcm.

First Floor

Kitchen (9' 5'' x 7' 9'' (2.86m x 2.35m))

Dining Room (9' 7'' x 6' 9'' (2.92m x 2.05m))

Shower Room

Living Room (15' 0'' x 10' 8'' (4.57m x 3.24m))

Bedroom (9' 8'' x 7' 0'' (2.95m x 2.13m))

Bedroom (13' 1'' x 11' 4'' (4.00m x 3.46m))

Second Floor

Kitchen (11' 7'' x 8' 8'' (3.53m x 2.64m))

Bedroom (17' 5'' x 8' 9'' (5.31m x 2.67m))

Bedroom (14' 3'' x 8' 10'' (4.34m x 2.69m))

Bathroom (8' 5'' x 5' 0'' (2.56m x 1.52m))

Tenure

Freehold subject to the occupational leases of the shop and flat.

Leases

Shop Let to one tenant at £800pcm on a rolling yearly contract.

Flat Let on an AST at £1,300pcm.

Basement Currently Let on a rolling lease at £300pcm.

Utilities

The flat has its own electric and gas meter. The commercial unit has its own electric meter. The property has one water meter with the cost split between the tenants.

Business Rates

The business rates for the shop are currently split into two sides:

Lhs: £3,850

rhs: £3,950

Please note this is not the Rates Payable amount. The tenant/occupier is responsible for payment of the business rates.

Council Tax Band A

VAT

The property is not elected for VAT and therefore is not chargeable on rent.

Legal Costs

Each party will be responsible for their own legal costs unless expressly agreed otherwise.

EPC Ratings

Shop – D.
Flat - E.

Viewing

Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.