£65,000
Property for saleTor Hill Road, Torquay TQ2
Freehold
About this property
Affordable Commercial Investment in Torquay Town Centre
Comprising a Shop and Two Residential Ground Rents (Flats Sold on Long Leases)
Potential Income £6,000 pa (Shop) & £400 pa (Ground Rents) (9.8% Initial Yield)
Well Presented & Easily Managed Investment Opportunity
Great Addition to an Existing Portfolio or for a First Time Investor - Opportunity not to be Missed!
Affordable Commercial Investment in Torquay Town Centre. Comprising a Shop and Two Residential Ground Rents (Flats Sold on Long Leases).
The property is located on Tor Hill Road in the Castle Circus area of central Torquay. Situated in a parade of independent shops and offices, the property is conveniently located on the edge of Torquay's main retail high street, Union Street and is close to many town centre facilities.
The property comprises a ground floor lock up shop, well presented and occupied under a commercial lease. The remainder of the building comprises two separate self-contained, two bedroom residential flats, each with parking spaces.
Each flat has been sold on a separate 125 year lease.
20 Tor Hill Road (The Shop)
A lock up retail unit comprising:-
Retail Area
Approx: 31.5m2 (339 sq ft).
With a store room & staff wc's.
Tenure
The property is for sale freehold with vacant possession.
First & Second Floor Flats
Each flat has been sold on separate 125 year leases, commencing from April 2019.
The leases allow for a ground rent of £200 per annum per flat and each leaseholder contributes to one third of the cost of buildings insurance, repairs and maintenance to the building, on an as required basis.
Price
£65,000 Freehold.
Legal Costs
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
EPC Rating's
20 Tor Hill Road (Shop) - C.
20A Tor Hill Road - D.
20B Tor Hill Road - D.
Viewing
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
The property is located on Tor Hill Road in the Castle Circus area of central Torquay. Situated in a parade of independent shops and offices, the property is conveniently located on the edge of Torquay's main retail high street, Union Street and is close to many town centre facilities.
The property comprises a ground floor lock up shop, well presented and occupied under a commercial lease. The remainder of the building comprises two separate self-contained, two bedroom residential flats, each with parking spaces.
Each flat has been sold on a separate 125 year lease.
20 Tor Hill Road (The Shop)
A lock up retail unit comprising:-
Retail Area
Approx: 31.5m2 (339 sq ft).
With a store room & staff wc's.
Tenure
The property is for sale freehold with vacant possession.
First & Second Floor Flats
Each flat has been sold on separate 125 year leases, commencing from April 2019.
The leases allow for a ground rent of £200 per annum per flat and each leaseholder contributes to one third of the cost of buildings insurance, repairs and maintenance to the building, on an as required basis.
Price
£65,000 Freehold.
Legal Costs
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
EPC Rating's
20 Tor Hill Road (Shop) - C.
20A Tor Hill Road - D.
20B Tor Hill Road - D.
Viewing
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
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