Property for sale

Palace Avenue, Paignton TQ3

Town Centre Lock Up Retail Investment. Let on a Commercial Lease Expiring 21st April 2029.

The property is situated in a strong town centre position at the lower end of Palace Avenue, close to its junction with Torquay Road. This location benefits from consistent footfall and visibility, being within close proximity to Paignton’s primary retail and commercial areas.

The surrounding area comprises a mix of independent retailers, service providers and national occupiers, making it an attractive trading position. The property will particularly appeal to investors seeking a well-located, low-management commercial asset in a busy coastal town centre.

The property comprises a ground floor lock-up retail unit, currently occupied by a butchers, providing a well-established and active use within the local community.

The investment offers a straightforward income-producing opportunity with a tenant in situ, making it suitable for both experienced and first-time commercial investors. The lease structure provides ongoing income with defined term certain remaining, enhancing its appeal as a secure investment.

The upper parts of the building are held under separate ownership via a long lease, reducing landlord responsibilities to the commercial element only.

Retail

Frontage: 5.99m.

Depth: 8.45m.

Store (15' 7'' x 11' 1'' (4.75m x 3.38m))

Store (20' 4'' x 13' 9'' (6.20m x 4.18m))

Store (11' 3'' x 4' 11'' (3.42m x 1.51m))

WC

Basement (37' 4'' x 21' 2'' (11.39m x 6.44m))

The basement has not been tanked and therefore this space is only utilised to run services and for light storage of non-perishables.

Tenure

Freehold, subject to the existing commercial lease.

The upper parts are held on a long lease expiring in 2175, with a ground rent of £50 per annum and sharing any costs of building insurance and maintenance.

Tenancy

The property is let to a private individual, trading as Palace Premier Meats. The property is let on a 15-year lease from April 2014 at a rent of £11,500 per annum. The lease is internal repairing and insuring including the shop windows and canopy.

Sale Price

£115,000 Freehold.

EPC Rating C

Business Rates

2026 List: £11,000
Interested parties are advised to make their own enquiries with the local billing authority regarding rates payable and any applicable reliefs.

Legal Costs

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

Viewing

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