LOT 15

111-117 Teignmouth Road, Torquay, Devon, TQ1 4HA

FREEHOLD RETAIL WAREHOUSE INVESTMENT
Result: Unsold, refer to Auctioneer Guide price: £650,000 plus*

Auction Date

Wednesday, 11th September 2019 12:00pm

Location & Description

A modern purpose built retail warehouse unit on the east side of Teignmouth Road forming part of this warehouse parade about 1½ miles north of the town centre, mainline railway station and coastal road. Nearby occupiers include ATS Euromaster and AMS Tyres along with other well known retailers.
Torquay is the principal town of the English Riviera and a popular tourist location with excellent transport links including the A380 Devon Expressway linking with the M5.

ACCOMMODATION (Based on VOA website)

GIA: 7,244 sq ft (673 sq m)
Showroom, internal storage and staff toilets
Roller shutter door to the front with a maximum height of 6.5m.
Customer forecourt parking for nine vehicles.

Tenancy Details

The entire premises is subject to a repairing and insuring lease to Multi-Tile Ltd trading as Topps Tiles for 10 years from 27.04.2018 with 5 yearly upward only reviews (no breaks) at £50,000 p.a.

Note

For the year ending 29.09.2018 Multi-Tile Ltd reported a pre-tax profit of £9.139m, shareholders funds of £188.2m and a net worth of over £188m (source Experion 15.04.2019). Website: toppstiles.co.uk

EQUIVALENT TO £50,000 p.a.

EPC Rating

D

Property Features

  • High Yielding Investment
  • Let to Topps Tiles
  • £50,000 p.a.
  • No breaks

Status

Unsold, refer to Auctioneer

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.