Freehold commercial investment comprising a town centre retail unit (1,453 sq ft, source EPC) let producing £17,750 pa. - development potential

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Description/Location

Let to Bestway National Chemists Ltd (part of the Bestway Group, with a group turnover in excess of £ 4.5 billion pa) on a 5 year FRI lease from 31/03/2023, with an upward only rent review in March 2026. Planning was granted in 2004 Ref: South Hams Council 28/2064/03/F for demolition of the existing building and replacement with 3 x retail units and 4 x flats. This is a part completed scheme leaving the potential option to add a 1 bed and 2 bed flat above the shop. The current owner has an agreement with Kingsbridge Town Council for provision of a parking space.

Tenure

Freehold
EPC rating D

Local Authority

South Hams District Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Ground floor: Retail area and staff amenity space totalling 1,453 sq. ft. Outside : Rear access, rear yard

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Legal documents

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.