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13-17 Palace Ave
Paignton TQ3 3EE
Retail Property For Sale · 31,400 SF
Investment Highlights
- Prominent Trading Position
- Tourist Population In Summer Months
- Lots Of Natural Light
Executive Summary
Paignton forms part of Torbay including Torquay and Brixham and has a combined resident population of circa 135,000 which is further increased with the influx of tourists in the summer months. The property is situated in a prominent and visible position on Palace Ave close to the prime shopping area of Victoria Street within the town centre.
PROPERTY FACTS
| Unit Size | 5,476 SF | Building Class | B |
| No. Units | 1 | Number of Floors | 4 |
| Total Building Size | 31,400 SF | Typical Floor Size | 7,137 SF |
| Property Type | Retail (Unit) | Year Built | 1887 |
| Property Subtype | Storefront | Lot Size | 0.72 AC |
| Sale Type | Investment |
| Unit Size | 5,476 SF |
| No. Units | 1 |
| Total Building Size | 31,400 SF |
| Property Type | Retail (Unit) |
| Property Subtype | Storefront |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 4 |
| Typical Floor Size | 7,137 SF |
| Year Built | 1887 |
| Lot Size | 0.72 AC |
1 Unit Available
Unit 13-17
| Unit Size | 5,476 SF | Tenure | Long Leasehold |
| Unit Use | Retail | Net Initial Yield | 15.29% |
| Sale Type | Investment | NOI | £65,000 |
| Unit Size | 5,476 SF |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 15.29% |
| NOI | £65,000 |
Description
Comprises one of the largest retail premises in town, arranged as an open plan retail with staff room, office and wc, providing the following accommodation and dimensions:
Ground Floor: 502 sq m (5,400 sq ft)
Open plan retail, 2 rooms, wc
Basement: 7 sq m (76 sq ft)
Ancillary
The property provides re-development potential to be converted into multiple retail units (2-5), subject to obtaining the necessary consents.
Sale Notes
Purchase Price: £500,000
Vacant possession
ERV: £65,000 p.a. GIY: 15.29%
VAT is NOT applicable to this property
Long Leasehold. Held on a 999 Year lease from 29th March 2017 at a ground rent of peppercorn.
Floor Plan
Amenities
- EPC - C
