Property for sale

Union Street, Torquay TQ1

Mixed Use Freehold Investment Premises. Generating an Income of £20,200 pa.

The property benefits from frontages onto Union Street at the front and Magdalene Road to the rear. It is arranged as three self-contained letting units. Union Street is Torquay’s principal retail high street and forms part of the town’s main shopping thoroughfare.

The property is located towards the upper end of Union Street, an area which connects Torquay town centre with the nearby residential districts of Torre and Upton.

A terrace property with ground floor commercial let on a 6 year Internal & Shop Front Repairing and Insuring Lease at a rent of £5,500 per annum from December 2025. The tenants are responsible for internal repairs and the reimbursement of the proportion of the insurance premium. There is a tenant’s option to break in December 2028.

The 2 residential apartments are accessed via a communal entrance at the front of the property, the lower ground floor flat also has a separate access point from Magdalene Road at the rear.

The first floor flat is let at £550pcm and the lower ground floor flat is let at £675 pcm. The three units are producing a gross income of £20,200 per annum, making this a very worthwhile investment opportunity.

173 Union Street - Ground Floor

Trading as a retail Shop. (Business unaffected). Comprises:-

Front Retail Space (24' 4'' x 12' 10'' (7.41m x 3.9m))

Rear Retail Space (8' 2'' x 7' 7'' (2.5m x 2.30m))

Kitchen (6' 11'' x 4' 7'' (2.1m x 1.39m))

WC

Business Rates

2023 List: £3,200

The Cafe is let on a 6 year lease from Dec 2025, at a rent of £5,000 per annum, with a 3 year break clause and 3rd year rent review. The tenants are responsible for internal repairs and the reimbursement of the proportion of the insurance premium.

173A Union Street

First Floor Flat

Communal entrance from Union Street with steps up to:-

Entrance

Kitchen (9' 9'' x 5' 9'' (2.98m x 1.75m))

Lounge (13' 6'' x 11' 9'' (4.12m x 3.58m))

Bedroom (11' 7'' x 12' 6'' (3.52m x 3.82m))

With door opening to balcony.

En-Suite Shower Room

With corner shower, WC and wash hand basin.

Steps from communal entrance down to:-

173B Union Street

Lower Ground Floor Flat

Entrance door leads to:-

Open Plan Living Area (22' 9'' x 12' 8'' (6.94m x 3.87m))

Kitchen (10' 4'' x 8' 11'' (3.16m x 2.73m))

Cloakroom

With WC and wash hand basin.

Bedroom 1 (8' 11'' x 9' 1'' (2.72m x 2.78m))

Steps down to:-

Bedroom 2 (10' 7'' x 13' 3'' (3.22m x 4.03m))

Bedroom 3 (8' 8'' x 8' 6'' (2.64m x 2.59m))

Bathroom

With bath with shower over, wash hand basin and WC.

Utility Room

An entrance/access point from Magdalene Road.

Tenure

The property is being sold Freehold, subject to the commercial lease and the residential Assured Shorthold Tenancies.

Price

An asking price of £210,000.

Council Tax Band A

VAT

The property is not elected for VAT.

Legal Costs

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

EPC Ratings

173 Union Street – ‘C’
173b Lower Floor Flat – ‘C’
173a First Floor Flat – ‘E’

Viewing

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