55 Union Street & 2 Pimlico Torquay Devon TQ1 1ET

55 Union Street & 2 Pimlico
Torquay
Devon
TQ1 1ET

Freehold Retail and Residential Investment

Comprises a ground floor bakery with four separately let flats above
Shop let to Warrens Bakery Limited expiring December 2028 (subject to option)
Re-based shop rent
Four flats above let on AST's
VAT free investment
Prominent town centre corner location
Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee

Lot
27
Auction
2nd November 2023
Rent
£34,820 per Annum Exclusive
Status
Sold
Price
£276,000
Auction Venue
Live Streamed Auction

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Freehold Retail and Residential Investment

Comprises a ground floor bakery with four separately let flats above
Shop let to Warrens Bakery Limited expiring December 2028 (subject to option)
Re-based shop rent
Four flats above let on AST's
VAT free investment
Prominent town centre corner location
Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee

Lot 27
Auction 2nd November 2023
Rent £34,820 per Annum Exclusive
Status Sold
Price £276,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A38, A380, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

The property is prominently situated in the heart of the town centre, on the corner of the pedestrianised Union Street, at its junction with Market Street. Nearby retailers include Primark, Boots the Chemist, Superdrug, River Island, Holland & Barrett, JD Sports, McDonald's and Costa Coffee.

Tenure

Freehold.

Location

Miles: 22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads: A38, A380, A385, M5
Rail: Torquay Railway Station
Air: Exeter International Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor only, with four separately accessed flats on the first and second floors, accessed from Pimlico.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B (Bakery) Bands D and E (Flats)

Description

The property comprises a shop arranged on the ground floor only, with four separately accessed flats on the first and second floors, accessed from Pimlico.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B (Bakery) Bands D and E (Flats)

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground	Retail/Ancillary/Rear Store	92.53	(996)	WARRENS BAKERY LIMITED (1)	6 years from 25/12/2022 (2)	£12,500
First	Residential	32.33	(348)	AN INDIVIDUAL	Rolling periodic AST from 28/05/2021 at £500 pcm	£6,000
First	Residential	41.71	(449)	AN INDIVIDUAL	Rolling periodic AST from 19/09/2018 at £450 pcm	£5,400
Second	Residential	48.12	(518)	AN INDIVIDUAL	Rolling periodic AST from 24/10/2014 at £455 pcm	£5,460
Second	Residential	40.22	(433)	AN INDIVIDUAL	Rolling periodic AST from 02/05/2014 at £455 pcm	£5,460
Total		254.91	(2,744)			£34,820

(1) Warrens Bakery Limited was incorporated in 1860, and now trade from over 40 stores across England and Wales (www.warrensbakery.co.uk)
(2) The lease is subject to a tenant only option to determine on 25/12/2025 and annually thereafter.

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.