A spacious freehold investment property located on Winner Street, in paignton's town centre. The property comprises a large shop which is currently let on a one year rolling lease and five self-contained residential flats over. One of the flats is currently Vacant but when the property is fully let it produces an income of £30,100 per annum.
The property is situated on Torquay Road in Paignton. With a population of around 50,000, Paignton is 4 miles south west of Torquay and 30 miles east of Plymouth.
The property is of masonry construction with a traditional glazed frontage. The unit provides a versatile trading space, ancillary space and welfare facilities.
The premises occupy an enviable trading position on Fleet Street, Torquay. Located towards the higher end of Fleet Street, the shop benefits from extremely high levels of pedestrian footfall and is directly located on the main pedestrian walkway joining both Union Street and Fleet Street.
The subject property is situated within the town centre on Market Street and is visible from the junction with Union Street, being the town's main shopping location.
The unit is arranged with retail on ground floor and ancillary at first floor. The unit has a canopy, a glazed frontage and forms part of a larger terrace of retail units.
The property is arranged as a Ground Floor and First Floor shop let to The Works Stores Ltd. The property adjoins the Union Square Shopping Centre.
The shop is at present let to The Works Stores Ltd for a term of 10 years from 25th March 2014 at a current rent of £51,500 per annum.
The lease provides for rent reviews every fifth year of...
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