Acquired
Torquay – The Works Retail Shop
73 Union Street, Torquay, Devon TQ1 3DAFreehold Shop Investment
Tenure
Freehold
Lease Term
12 Years
Years Left on Lease
1y 3m
Area
3,007 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Let to The Works Stores Ltd
- Recently extended lease expiring 2026
- Recently refurbished in 2021 due to fire damage
- Town centre location
- Adjoining the Union Square Shopping Centre
- Future development potential STTP
- Nearby occupiers include Greggs, Game, Wilko and Superdrug
Key Features
Tenure
Freehold
VAT
VAT is 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 years expiring 31st March 2026 at a current rent of £51,500 per annum. The lease contains full repairing and insuring covenants.
Tenancies & Accommodation
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.
