111-117 Teignmouth Road, Torquay, Devon, TQ1 4HA
Result: Unsold, refer to Auctioneer Guide price: £650,000 plus*
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.
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.
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.
- High Yielding Investment
- Let to Topps Tiles
- £50,000 p.a.
- No breaks