Lot 98

MIXED COMMERCIAL AND RESIDENTIAL INVESTMENT/DEVELOPMENT PROPERTY

130 Union Street, Torquay, Devon, TQ2 5QB
130 Union Street, Torquay, Devon, TQ2 5QB
Sold £267,500

Currently part let at £22,500 per annum

An interesting investment and redevelopment opportunity comprising a prominent four storey building located at the top end of Union Street just below Castle Circus. The ground and lower ground floors are occupied by Haart Estate Agents at a current rent of £22,500 per annum with fixed annual increases, the vacant upper floors having in the past been a duplex two bedroom flat but now needing complete refurbishment.

The property is likely to appeal to a number of sectors of the market including those who might see the potential, subject to all necessary consents being obtainable, for upwards extension as the property is diminutive in relation to both its immediate neighbours.

Commercial

Ground and Lower Ground Floors

Offices and ancillary accommodation.

Tenancy

Let on a 10 year lease, from 11th December 2018, at a current rental of £22,500 per annum.

Residential

First Floor

Living/dining room, inner lobby and kitchen.

Second Floor

Two bedrooms and shower room.

Tenancy

Currently vacant.

Outside

To the rear of the upper floors is a sizeable area of terrace and there is extensive off-road parking accessed from Temperance Street.

Auctioneer's Note

For information relating to the commercial element’s rateable value and other available data go to www.gov.uk/correct-your-business-rates and enter the postcode for the property into the appropriate search field.

Local Planning Authority

Torbay Council. Tel: 01803 207801. Website: torbay.gov.uk.

Viewings

There will be no viewings of the let portion of the property nor of the first and second floors on safety grounds in relation to the external staircase. However, a video is available via a link provided under the lot entry on the Clive Emson website.

A selection of photographs and floor plans (indicative only, not to be scaled) will also be available from the Auctioneer's Office.

Video

To see a video of the property click here

Freehold with Part Vacant Possession

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/