Landmark Newton Abbot original period building to be sold at auction

A landmark building in Courtenay Street, Newton Abbot, one of the very few surviving in this part of town, is due to be sold at auction on July 25th by Network Auctions.

25-27 Courtenay Street, formerly the premises of the Co-op Bank, has been a bank for as long as records show. In fact, a photo from the 1920s shows the building when it was occupied by the then Westminster Bank Ltd.

The prominent period property is being offered by Network Auctions with a guide of £295,000+ and an estimated rental value of £45,000 per annum. Offered Freehold, the substantial building offers 1,364 sq. ft. on the ground floor and benefits from basement storage and rear loading access. On the first and second floors, there is an additional 1000 sq. ft. self-contained.

Toby Limbrick auctioneer said, “We put a conservative rental value of £45,000 on the whole building, previous occupiers were paying substantially more, so the potential for high yield and value add is clear.”

“The building is in a prime town centre location with excellent frontage on the pedestrianised section so the ground floor should attract a blue chip tenant. The uppers are self-contained and designated retail, but subject to planning, there could be options for converting to residential. This is an original building which benefits from many period features which could be really utilised in any future scheme.”

25-27 Courtenay Street, Newton Abbot, Devon, TQ12 2QL will be sold at Network Auctions ballroom sale on 25th July at the Westbury Mayfair Hotel, London. For more information: www.networkauctions.co.uk