Property for sale,

Union Street, Torquay, Devon, TQ1

Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the

service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.

Lessee & Trade:

The Works Stores LTD

Term

Term of year expiring 31 March 2026

Current Rent £p.a.

£51,500

Price

£340,000

Rent P.A.

£51,500

Yield ( Based on starting price)

15.15%

Tenure

Freehold

Lease Term

12 Years

Years Left on Lease

1 year 4 months.

Area

3,007 SQ FT

VAT Applicable

Yes

Auctioneer Comments

Your Move are delighted to have been given the opportunity to find a new owner for this commercial building in the heart of Torquay Town centre.Auctioneer Comments.This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.Lessee & Trade:The Works Stores LTDTermTerm of year expiring 31 March 2026Current Rent £p.a.£51,500Price£340,000Rent P.A.£51,500Yield ( Based on starting price)15.15%TenureFreeholdLease Term12 YearsYears Left on Lease1 year 4 months.Area3,007 SQ FTVAT ApplicableYes

Ground Floor Shop

166.9 sq m (1,796 sq ft)

First Floor Flat

98.50 sq m (1,060 sq ft)

First Floor rear

14 sq m (151 Sq ft)

IMPORTANT NOTE TO POTENTIAL PURCHASERS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.