35 Victoria Street Paignton Devon TQ4 5DD

35 Victoria Street
Paignton
Devon
TQ4 5DD

Freehold Retail and Residential Investment with Further Development Potential

Shop let to discount retailer with two separately accessed flats above let on AST's
Shop lease expires December 2023
Potential to convert rear upper floors to create further Residential accommodation (subject to lease and consents)
Approximately 4,452 sq ft
Prime trading location with neighbouring occupiers including Boots the Chemist, Holland & Barrett, Tesco Express, Greggs, Costa Coffee, Sports Direct and WHSmith

Lot
10
Auction
16th February 2023
Rent
£44,400 per Annum
(1)
Status
Sold
Price
£375,000
Auction Venue
Live Streamed Auction

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Freehold Retail and Residential Investment with Further Development Potential

Shop let to discount retailer with two separately accessed flats above let on AST's
Shop lease expires December 2023
Potential to convert rear upper floors to create further Residential accommodation (subject to lease and consents)
Approximately 4,452 sq ft
Prime trading location with neighbouring occupiers including Boots the Chemist, Holland & Barrett, Tesco Express, Greggs, Costa Coffee, Sports Direct and WHSmith

Lot 10
Auction 16th February 2023
Rent £44,400 per Annum (1)
Status Sold
Price £375,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 4 miles south of Torquay, 24 miles south of Exeter
Roads: A380, A385, A3022
Rail: Paignton Railway Station
Air: Exeter International Airport

Situation

Paignton is an attractive and popular coastal town that benefits from significant additional seasonal visitors. The property is prominently located on the north side of the pedestrianised Victoria Street, 150 metres from Paignton Railway Station. Neighbouring occupiers include Boots the Chemist, Holland & Barrett, Tesco Express, Greggs, Costa Coffee, Sports Direct and WHSmith.

Tenure

Freehold.

Location

Miles: 4 miles south of Torquay, 24 miles south of Exeter
Roads: A380, A385, A3022
Rail: Paignton Railway Station
Air: Exeter International Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground and part first/part second floors (rear) with two separately accessed flats arranged on the part first and part second floors (front).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

The property comprises a shop arranged on the ground and part first/part second floors (rear) with two separately accessed flats arranged on the part first and part second floors (front).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.
Ground First (rear) Second (rear)	Retail Ancillary Ancillary	154.09 58.48 64.06	(1,659) (629) (690)	FLASH RETAIL LIMITED (t/a Tech Hub)	1 year lease expiring 19/12/2023 (2)	£27,000 (1)
First (front)	2 Rooms, Kitchen and bathroom	48.40	(521)	AN INDIVIDUAL	12 months AST from 20/12/2022 at £600 pcm	£7,200
Second (front)	3 Rooms, Kitchen, living and bathroom	90.02	(969)	AN INDIVIDUAL	12 months AST from 15/01/2023 at £850 pcm	£10,200
Total		413.56	(4,452)			£44,400

(1) Rent inclusive of insurance and any service charge - please see lease
(2) The lease is drawn outside the Security of Tenure provisions of the Landlord & Tenant Act 1954

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.