1 Bedroom Flat for Sale Old Mill Road, Torquay, TQ2 6AU

Features

A promising investment opportunity awaits with this property, featuring a generously proportioned commercial unit situated at the forefront of the building, complemented by a potential separate residential apartment towards the rear, subject to obtaining appropriate consents and planning permissions. Offered without an onward chain, this property has seen initial refurbishment works completed. Only second fixings are needed to enable customization tailored to the prospective owner's preferences.

Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.

Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.

Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.

Tenure: Freehold
The current owner has informed us that the property is titled freehold.

Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.

These particulars do not constitute any part of an offer or a contract. All statements contained in these particulars are made without responsibility on the part of Daniel Hobbin Estate Agents Limited. Where every attempt has been made to ensure the accuracy of the floorplan contained here, any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulations or other consents. Daniel Hobbin Estate Agents Limited have not tested any services, equipment or facilities. Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.