Lot 19

FREEHOLD MULTI-LET COMMERCIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

46-52A Hyde Road, Paignton, Devon, TQ4 5BY
46-52A Hyde Road, Paignton, Devon, TQ4 5BY
Guide Price £450,000 – £500,000 * + Fees

Currently part let at £35,300 per annum - plus vacant office unit

Viewing by arrangement with Clive Emson Auctioneers

Located in a favoured position in Paignton's busy town centre, close to all amenities and the seafront, is this multi-let commercial block arranged over two floors with six lettable units and additional detached garage and parking/land to the rear.

The investment has been in the same family ownership for many years and offers further development and income potential, subject to all necessary consents being obtainable. An excellent investment for those wishing to add to their property portfolio.

Ground Floor

48 Hyde Road

Salon area and ancillary accommodation.

Tenancy

Let on a six year lease, from 29th September 2018, at a current rental of £5,200 per annum (review/breakout clause 29th September 2021).

50 Hyde Road

Retail area and cloakroom.

Tenancy

Let on a three to five year lease, from 25th April 2021, at a current rental of £6,900 per annum (review 25th April 2023).

50A Hyde Road

Office and ancillary accommodation.

Tenancy

Let on a six year lease, from 1st July 2021, at a current rental of £6,000 per annum (review 1st July 2024/breakout clause 28th September 2024).

52 Hyde Road

Office and ancillary accommodation.

Tenancy

Let on a six year lease, from 29th September 2018, at a current rental of £11,500 per annum.

First Floor

46 Hyde Road

Offices.

Tenancy

Let on a six year lease, from 24th September 2018, at a current rental of £5,700 per annum.

52A Hyde Road

Offices, meeting room, kitchen and two cloakrooms/W.C.s.

Tenancy

Currently vacant. Available to view internally. Floor area - 171sq mtrs, EPC rating E.

Outside

To the rear of the property is a higher car park with four spaces incorporated in 52 Hyde Road's lease. There is an additional vacant car park with approximately four spaces as well as a vacant single lock-up garages/store.

Auctioneer's Note 1

Details of all leases will be available to download from the Clive Emson website.

Auctioneer’s Note 2

At the time of publication the Auctioneers have been unable to internally inspect the whole property. Interested applicants should rely on their own investigations to verify the information provided.

Auctioneer's Note 3

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.

Viewing

Strictly by prior confirmed appointment with the Auctioneer's Office. There may be areas which are not accessible when viewing.

Freehold with Part Vacant Possession

46-52A Hyde Road, Paignton, Devon
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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/