Sold for £276,000

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Mixed use freehold investment comprising ground floor retail unit (vacant) , 1 x 3 bedroom house, 1 x 2 bedroom flat (both let) and workshop (vacant) currently producing £15,840 per annum.

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Description/Location

The property is situated within 100 metres of Newton Abbot railway station and a short walk from the town centre. The shop (682 sq.ft. - source VOA) which has a w.c. and wash hand basin was previously let at £10,000 pa. The workshop (approx. 332 sq.ft.) could achieve £4,000 pa or provide further residential accommodation, subject to planning. Access via Quay Road with a right of way across the rear of 171-173 Queen Street. The house (871 sq.ft - source EPC) is let on an Assured Shorthold Tenancy from 22/06/2017 at £695 per calendar month. Front door access from Queen Street. The flat (731 sq.ft. - source EPC) is let on an Assured Shorthold Tenacy from 22/06/2017 at £625 per calendar month. Access via Quay Road with a right of way across the rear of 171-173 Queen Street.

Tenure

Freehold

Local Authority

Teignbridge District Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Shop: Retail area, w.c. and wash hand basin House - ground floor: Living room, kitchen House - first floor: 3 bedrooms, bathroom Flat - lower ground floor: Living room, kitchen, 2 bedrooms, further room, bathroom Outside: Workshop, rear courtyard, rear pedestrian access

Rent

Potential rent £29,480 per annum

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.