No longer on the market
This property is no longer on the market
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Property
Features and description
- Substantial Roadside Unit in a Popular Central Location
- Currently Operating as Garage Premises - Business Unaffected
- Let on a 10 year from 2018 FR&I lease at a Rent of £22,500 PA (Initial 7.5% Yield)
- Gross Internal Area Approx: 830m2 (8,935 sq ft)
- Large Private Parking Yard
The property occupies a large visible corner unit spanning from the junction of Lymington Road and Chatto Road, up to Parkfield Road, Torquay.Lymington Road is an edge of town centre location favoured by many commercial occupiers (including Jewson, Halfords, City Plumbing & Denmans) The property has been recently let to the current occupiers, having previously been operated as an owner occupier Garage business for over 90 years. The property comprises a forecourt, garage/MOT test centre with various workshops, showrooms and stores and a large private car park/yard. The occupiers operate at successful Garage business from the premises and are a well-established family company, having previously traded in Newton Abbot and formerly Torquay.
GARAGE PREMISES
MAIN WORKSHOP, GROUND FLOOR STORES & OFFICES
Totaling approximately 655m2 (7,050 sq ft).
UPPER GROUND FLOOR SHOWROOM
55m2 (592 sq ft).
FIRST FLOOR STORES
65m2 (700 sq ft).
CAR PARK/YARD
Approximately 140m2 (1,500 sq ft).
TENURE
The property is held on a 10 year FRI lease from 2018, contracted out of the security of tenure provisions of the 1954 Landlord & Tenant Act. Let to ACM Ltd, backed by personal guarantee.
RENT
£22,500 per annum.
BUSINESS RATES
2017 List: £17,674.
LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.
EPC RATING E
VIEWING
Viewing is highly recommended and is by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
GARAGE PREMISES
MAIN WORKSHOP, GROUND FLOOR STORES & OFFICES
Totaling approximately 655m2 (7,050 sq ft).
UPPER GROUND FLOOR SHOWROOM
55m2 (592 sq ft).
FIRST FLOOR STORES
65m2 (700 sq ft).
CAR PARK/YARD
Approximately 140m2 (1,500 sq ft).
TENURE
The property is held on a 10 year FRI lease from 2018, contracted out of the security of tenure provisions of the 1954 Landlord & Tenant Act. Let to ACM Ltd, backed by personal guarantee.
RENT
£22,500 per annum.
BUSINESS RATES
2017 List: £17,674.
LEGAL COSTS
Each party are to bear their own legal costs incurred in any transaction.
EPC RATING E
VIEWING
Viewing is highly recommended and is by prior appointment with the Sole Agents, Bettesworths.
Tenure: Freehold
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