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