Torquay

The property is located in Torquay Town Centre, at the rear of the pedestrianised section of Union Street and on the vehicle one way system that runs through the town centre.  

Opposite the property is a large loading only zone, suitable for use by the units.  

The property is arranged as six commercial units across ground and first floor levels. Five of the units are currently let and are utilised for light industrial/ storage uses. The units are currently generating a gross rental income of £53,400 per annum.  

The first floor of 19 Pimlico is vacant and has a potential to be let for approximately £7,200 per annum.

19 GROUND FLOOR PIMLICO Currently used as a store.
Benefiting from roller shutter access.

Width – 35m (114' 10'').
Depth – 10m (32' 10'').

19 FIRST FLOOR PIMLICO Width – 35m (114' 10'').
Depth – 10m (32' 10'').

21 – 23 PIMLICO First Floor Unit. Currently used as a store.

Width – 15.80m (51' 10'').
Depth – 16.56m (54' 4'').

25 PIMLICO Ground Floor Unit. Benefitting from roller shutter access. Currently used as a car dealership.

Width – 15.26m (50' 1'').
Depth – 15.52m (50' 11'').

27 – 29 GROUND FLOOR PIMLICO 60' 4'' x 52' 2'' (18.40m x 15.90m) (max) Ground Floor Unit. Used as store.

27-29 FIRST FLOOR PIMLICO First Floor Unit. Benefitting from roller shutter access. Currently used as a car/ vehicle restoration workshop.

Max Width – 22.46m (73' 8'').
Max Depth – 17.13m (56' 2'').
Min Depth – 4.21m (13' 10'').

TENURE Freehold subject to the current occupational leases.

LEASES The units are all let on simple commercial agreements and are let on Internal Repairing basis.

The vendor currently covers all buildings insurance costs. New owners may wish to change this and recharge tenants for a proportion of the insurance cost.

PRICE An asking price of £325,000.

UTILITIES The units are each sub metered for electricity. The landlord pays for the supply and recharges tenants.

There is no gas present in the units.

Water is limited to a couple of the units and there are no toilets in any of the units.

RENT SCHEDULE UNIT LEVEL USAGE RENT (PM) RENT (PA)
19 GF Ground Floor Storage £1,250 £15,000.

19 FF First Floor Vacant.

21-23 First Floor Storage £600 £7,200.

25 Ground Floor Car Sales £1,200 £14,400.

27-29 GF Ground Floor Storage £400 £4,800.

27-29 FF First Floor Car Restoration £1,000 £12,000.

Total - £4,450 Per Month. £53,400 Per Annum.

BUSINESS RATES The landlord currently pays the business rates for the whole property. However, this could be reassessed to create individual rates listings for each unit.

2023 List: £41,000.

Currently the rates payable are £20,459 (excluding any possible relief options).

VAT The property is not elected for VAT and therefore is not chargeable on rent.

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

EPC RATING D

VIEWING Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths. Tel. 01803 212021.