Sold for £625,000

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Freehold commercial investment comprising 6 industrial units (approx 7178 sq ft combined) and a large car park, let producing £58,800 per annum. The site extends to 0.37 acres and has potential for further development subject to planning.

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Description/Location

Located in central Newton Abbot and forming part of the Wharf Road industrial estate, the units are let to 4 long-established tenants. Each tenancy is for a term of 6 years from 01/102022.

Tenure

Freehold

Local Authority

Teignbridge District Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Annual rental breakdown Lazerpics - Printers & Signs - £19,200 pa. 3 units 1234 sq ft / 1142 sq ft / 740 sq ft. Tumbling Teds - Children's Play Centre - £13,200 pa. 2261 sq ft. Sports Clinic & Wellness Rooms - Health & Wellbeing. £13,200 pa. 799 sq ft. Tackle Trader - Fishing Tackle - £13,200 pa. 1002 sq ft.

Rent

Current rent £58,800 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.