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A fantastic Freehold investment opportunity comprising of two apartments and two commercial premises. All four units are currently occupied and there is the option to renegotiate on the current rents and to offer new leases. The property is located in Torquay town centre and is just a short walk from Torquay Harbour side.
Both commercial premises have been finished to a good standard and each offer show rooms to the front of the property along with toilet and kitchenette facilities to the rear. The current tenants operate in beauty therapy and exotic reptiles respectively. The premises occupied by the beauty company also has an additional room at the back of the premises.
The apartments are accessed via a door to the right of the commercial premises which leads to a communal staircase and hallway. The apartment located on the first floor comprises of a large lounge, family room, study, dining room/bedroom two, master bedroom, kitchen, bathroom and utility/cloakroom. The apartment located on the second floor comprises of three bedrooms, kitchen, living area, shower room and roof garden.
The rents are as follows;
Commercial premises 1 - £3600 PA
Commercial premises 2 £3600 PA
1st floor flat - £6600 PA
2nd floor flat - £5400 PA
Total annual rent - £19,200
There is certainly scope to negotiate on the current rentals and this would be up to the incoming owner should they choose to do this.