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.
Ground and Lower Ground Floors
Offices and ancillary accommodation.
Let on a 10 year lease, from 11th December 2018, at a current rental of £22,500 per annum.
Living/dining room, inner lobby and kitchen.
Two bedrooms and shower room.
To the rear of the upper floors is a sizeable area of terrace and there is extensive off-road parking accessed from Temperance Street.
For information relating to the commercial elements 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.
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.
Freehold with Part Vacant Possession
The map and satellite images are based on postcode information and are available for for directions only. The may not necessarily show the exact lot being offered, but will be in close proximity. Please refer to the sale plan in the legal documentation for precise details of the lot to be sold.