Acquired
Torquay – Town Centre Retail Shop
73 Union Street, Torquay, Devon TQ1 3DAFreehold Shop Investment
Area
3,007 SQ FT
VAT Applicable
No
Investment Consideration
- Let to The Works Stores Ltd
- Town centre location
- Adjoining the Union Square Shopping Centre
- Future development potential STTP
- Nearby occupiers include Greggs, Game, Wilko and Superdrug
VAT
VAT is not applicable.
Property Description
The property is arranged as a Ground Floor and First Floor shop let to The Works Stores Ltd. The property adjoins the Union Square Shopping Centre.
The property provides the following accommodation and dimensions:
Ground Floor: 1,796 sq ft
First Floor Front: 1,060 sq ft
First Floor Rear: 151 sq ft
The property provides the following accommodation and dimensions:
Ground Floor: 1,796 sq ft
First Floor Front: 1,060 sq ft
First Floor Rear: 151 sq ft
Tenancy Description
The shop is at present let to The Works Stores Ltd for a term of 10 years from 25th March 2014 at a current rent of £51,500 per annum.
The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
Location Description
The property is situated on the north side of the town's main retail thoroughfare, Union Street, between its junction with Market Street and the entrance to the Union Square Shopping Centre Torquay is a popular tourist location and a principal town of the English Riviera holiday area located some 25 miles south west of Exeter. The A380 Devon Expressway is 2 miles west of the town and provides access towards the M5 to the north.
