Available
Teignmouth – Cafe & 2-Bed Cottage
14 Bank Street TQ14 8AW & Clampet Cottage TQ14 8DN, Teignmouth, DevonFreehold Retail & Residential Investment
Price
£295,000
Rent P.A.
£21,300
Yield
7.22%
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
12y 10m
Area
1,582 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop and a self-contained 2-bedroom cottage at rear Clampet Lane
- Teignmouth is a seaside town, fishing port and civil parish in the county of Devon
- The property is situated in the heart of the town centre within short walk from Teignmouth Train Station, with occupiers nearby including Costa Coffee, Poundland, Greggs and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises mid-terrace ground floor shop t/a Pantry Shop and self-contained 2-bedroom cottage at rear (Clampet Lane), providing the following accommodation and dimensions:
Ground Floor Shop: 68 sq m (732 sq ft)
Open plan retail, storage, ancillary, wc
First/Second Floor Cottage: 79 sq m (850 sq ft)
2 bedrooms, kitchen/living room, bathroom
Total GIA: 147 sq m (1,582 sq ft)
Ground Floor Shop: 68 sq m (732 sq ft)
Open plan retail, storage, ancillary, wc
First/Second Floor Cottage: 79 sq m (850 sq ft)
2 bedrooms, kitchen/living room, bathroom
Total GIA: 147 sq m (1,582 sq ft)
Tenancy Description
The shop is at present let to an Individual for a term of 15 years from 20th December 2022 at a current rent of £13,500 p.a. p.a. and the lease contains full repairing and insuring covenants. Rent review every 5th year open market upward only. Tenant option to determine every 5th year with min 6 months notice. Lease renewal. Tenant in occupation since 2016
The cottage is at present let on AST to an Individual at a current rent of £7,800 p.a.
The cottage is at present let on AST to an Individual at a current rent of £7,800 p.a.
Tenancies & Accommodation
Location Description
Teignmouth is a seaside town, fishing port and civil parish in the English county of Devon. It is on the north bank of the estuary mouth of the River Teign, about 12 miles south of Exeter. The property is situated in the heart of the town centre within short walk from Teignmouth Train Station, with occupiers nearby including Costa Coffee, Poundland, Co-Op Food, Greggs, Holland & Barrett and many more.
