Property photos
Freehold
£295,000
Property for sale
Market Street, Torquay TQ1Local area information
Property location
Nearby amenities
- EF Academy Torbay 0.1 miles
- Ellacombe Church of England Academy 0.3 miles
- Torquay - North Quay 0.5 miles
- Torquay Harbour Boarding Pontoon 0.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- Substantial Town Centre Mixed Use Freehold Investment
- A Licensed Six Bedroom HMO & Ground Floor Retail Unit
- Gross Income of £39,412 Per Annum (when fully let)
- High Yield Investment Opportunity – 13.36%
- Viewing Highly Recommended
This substantial freehold property is situated on Market Street, Torquay. Market Street is a mixture of independent businesses and residential accommodation, linking directly into the town centre and connecting the residential areas of Ellacombe, Plainmoor and Babbacombe.
19 Market Street is currently arranged as a mixed-use investment with ground floor commercial unit and a licensed HMO on the first & second floors. The commercial unit has been let to a hairdressing business on a 5-year lease, at an annual rent of £6,240 from 2021. Recently refurbished to a high standard. On the upper floors, the licensed HMO has been renovated to a good standard and managed well by the current owner, producing a gross rental income of £28,532.
The property is offered for sale as a going concern investment and early viewing is highly recommended.
Retail Unit
Currently let on a 12 month lease at a rent of £4,800 per annum, lease date June 2024.
Retail Area (27' 1'' x 14' 8'' (8.25m x 4.46m))
Fitted out to a high spec.
Door to:-
Rear Hallway
With under stairs cupboard.
Kitchenette (10' 11'' x 10' 0'' (3.33m x 3.06m))
Office/Treatment Room (10' 6'' x 7' 0'' (3.19m x 2.13m))
WC
Residential Accommodation
Access via separate roadside entrance door to:-
Entrance Hall
With fuse board and fire alarm panel.
Stairs to:-
First Floor
Bedroom 5 (12' 8'' x 11' 3'' (3.86m x 3.42m))
Let at: £520 pcm.
Double room with window to side and en-suite shower room with WC and wash hand basin.
Communal Shower Room
With shower cubicle, WC, wash hand basin and electric towel rail.
Bedroom 3
Let at: £505 pcm.
Double room with wash hand basin.
Bedroom 4 (18' 8'' x 12' 9'' (5.69m x 3.88m))
Let at: £606 pcm.
Double room with window to front and wash hand basin.
Stairs to:-
Second Floor
Kitchen/Communal Dining Room (12' 6'' x 13' 9'' (3.80m x 4.18m))
Well appointed kitchen diner with a range of matching wall and base units, two built in electric cookers with filter canopy hoods over, inset sink and window to side.
Communal Shower Room
With shower cubicle, WC, wash hand basin and heated electric towel rail.
Separate WC
With wash hand basin.
Bedroom 1 (12' 0'' x 9' 3'' (3.65m x 2.82m))
Let at: £411.66 pcm.
Double room with window to rear and wash hand basin.
Bedroom 2 (13' 1'' x 9' 5'' (4.00m x 2.86m))
Let at: £411.66 pcm.
Double room with window to front and wash hand basin.
Bedroom 6 (9' 8'' x 9' 4'' (2.94m x 2.85m))
Let at: £430 pcm.
Double room with window to front and wash hand basin.
Note
The letting rooms are let on 6 month Assured Shorthold Tenancy Agreements and the rents are inclusive of all utilities and council tax.
Rateable Value – Commercial Unit
2023 List: £5,600.
Please note this is not Rates Payable. The unit is eligible for 100% Business Rate Relief for Small Businesses.
Council Tax Band B
HMO Licensing
19 Market Street, was listed on the public register for HMO’s at the time of publication of this document. Interested parties are advised to make their own enquiries with the Local Authority, Torbay Council.
EPC Ratings
19 Market Street (Retail Unit) – D.
19a Market Street (HMO) – E.
Viewing
Viewing is highly recommended and can be arranged strictly by prior appointment with the Sole Agents, Bettesworths.
19 Market Street is currently arranged as a mixed-use investment with ground floor commercial unit and a licensed HMO on the first & second floors. The commercial unit has been let to a hairdressing business on a 5-year lease, at an annual rent of £6,240 from 2021. Recently refurbished to a high standard. On the upper floors, the licensed HMO has been renovated to a good standard and managed well by the current owner, producing a gross rental income of £28,532.
The property is offered for sale as a going concern investment and early viewing is highly recommended.
Retail Unit
Currently let on a 12 month lease at a rent of £4,800 per annum, lease date June 2024.
Retail Area (27' 1'' x 14' 8'' (8.25m x 4.46m))
Fitted out to a high spec.
Door to:-
Rear Hallway
With under stairs cupboard.
Kitchenette (10' 11'' x 10' 0'' (3.33m x 3.06m))
Office/Treatment Room (10' 6'' x 7' 0'' (3.19m x 2.13m))
WC
Residential Accommodation
Access via separate roadside entrance door to:-
Entrance Hall
With fuse board and fire alarm panel.
Stairs to:-
First Floor
Bedroom 5 (12' 8'' x 11' 3'' (3.86m x 3.42m))
Let at: £520 pcm.
Double room with window to side and en-suite shower room with WC and wash hand basin.
Communal Shower Room
With shower cubicle, WC, wash hand basin and electric towel rail.
Bedroom 3
Let at: £505 pcm.
Double room with wash hand basin.
Bedroom 4 (18' 8'' x 12' 9'' (5.69m x 3.88m))
Let at: £606 pcm.
Double room with window to front and wash hand basin.
Stairs to:-
Second Floor
Kitchen/Communal Dining Room (12' 6'' x 13' 9'' (3.80m x 4.18m))
Well appointed kitchen diner with a range of matching wall and base units, two built in electric cookers with filter canopy hoods over, inset sink and window to side.
Communal Shower Room
With shower cubicle, WC, wash hand basin and heated electric towel rail.
Separate WC
With wash hand basin.
Bedroom 1 (12' 0'' x 9' 3'' (3.65m x 2.82m))
Let at: £411.66 pcm.
Double room with window to rear and wash hand basin.
Bedroom 2 (13' 1'' x 9' 5'' (4.00m x 2.86m))
Let at: £411.66 pcm.
Double room with window to front and wash hand basin.
Bedroom 6 (9' 8'' x 9' 4'' (2.94m x 2.85m))
Let at: £430 pcm.
Double room with window to front and wash hand basin.
Note
The letting rooms are let on 6 month Assured Shorthold Tenancy Agreements and the rents are inclusive of all utilities and council tax.
Rateable Value – Commercial Unit
2023 List: £5,600.
Please note this is not Rates Payable. The unit is eligible for 100% Business Rate Relief for Small Businesses.
Council Tax Band B
HMO Licensing
19 Market Street, was listed on the public register for HMO’s at the time of publication of this document. Interested parties are advised to make their own enquiries with the Local Authority, Torbay Council.
EPC Ratings
19 Market Street (Retail Unit) – D.
19a Market Street (HMO) – E.
Viewing
Viewing is highly recommended and can be arranged strictly by prior appointment with the Sole Agents, Bettesworths.
Floor plans and tours
Floor plans (1)
More information
Listed by
Bettesworths Commercial
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