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Retail premises for sale

£140,000 (£164.64/sq. ft)

Old Mill Road, Chelston, Torquay TQ2

Retail premises for sale 79 sq. m*
Interested in this property? Call +44 1803 912659 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Potential Separate Residential Apartment
  • Offered Without Onward Chain
  • Outdoor Space for Residential Unit
  • Possibility of Off-road Parking
  • Attractive Rental Yields
  • Prime Location on Old Mill Road
  • High Foot Traffic Area
  • Proximity to Amenities & Schools

Property description

Description

A promising investment opportunity awaits with this property, featuring a generously proportioned commercial unit situated at the forefront of the building, complemented by a potential separate residential apartment towards the rear, subject to obtaining appropriate consents and planning permissions. Offered without an onward chain, this property has seen initial refurbishment works completed. Only second fixings are needed to enable customization tailored to the prospective owner's preferences.

Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.

Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.

Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.

Tenure: Freehold
The current owner has informed us that the property is titled freehold.

Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.

Shop

It is conveniently located on Old Mill Road and features a prominent entry facilitated by a glazed door, which allows seamless access to the inviting shop front. A spacious interior is illuminated by a sizable glazed window, enhancing visibility and appeal to potential clients. Additionally, a back office area is accessible via a connecting hallway or storage room. This versatile space offers potential for subdivision, with the option to create distinct zones for both the commercial unit and a prospective residential apartment.

Residential Apartment

The residential apartment, envisioned to occupy the rear portion of the unit, adheres to the layout delineated in the supplied floor plan. Comprising a lounge/diner at the rear, alongside a kitchen, a bedroom, and a shower room. Access points into the apartment are strategically positioned, facilitating entry from both the hallway and the lounge/diner. Moreover, outdoor space amplifies this property's appeal. Access is facilitated through a private lane adjacent to Sherwell Park, running parallel to Old Mill Road.

Property info

Floorplan(s): Floorplan 1

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* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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For more information about this property, please contact
Daniel Hobbin Estate Agents, TQ1 on +44 1803 912659 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Daniel Hobbin Estate Agents, and do not constitute property particulars. Please contact Daniel Hobbin Estate Agents for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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