Shop Balland Park, Newton Abbot £325,000

Reference: 36537_10658815

3 bedroom Shop for sale: Balland Park, Newton Abbot


  • reception rooms 2
  • bedrooms 3
  • bathrooms 1
Reference: 36537_10658815

Key Features

  • Investment Property
  • Shop & Car Park
  • Separate Bungalow & Parking
  • Estimated Rental income of over £15,000 per annum

Description

Approximately 37 sq.m (400 sq.ft) of retail space.A commercial investment opportunity to aquire a shop and bungalow with parking. Planning has elapsed for an additional dwelling. Estimated rental income of £15,000 per annum.

THE CURRENT SHOP TENANCY:
The current tenants have been successfully trading from 13 Balland Park for over 5 years, operating as a convenience outlet. The shop comprises a main shop front, store room, cloak room with a WC.

THE LEASE:
The current lease was entered into on 1st November 2016 with a six-year term, which will expire on the 31st October 2022.

RATEABLE VALUE:
Rateable value for the shop is £5,488.NB The property is below the threshold for rates to be paid at the present time.

COUNCIL TAX:
The bungalow is category B paying £1,633 per annum.

ENERGY PERFORMANCE CERTIFICATE:
Band D for both the shop & bungalow.

TENURE:
Freehold.

INCOME:
The income of both the shop and the bungalow is estimated to be £15,420 per annum.

SERVICES:
Mains Electricity, drainage, gas and water.

PLANNING:
Grant of conditional planning permission was granted in 2005 - Application No:0675/05. The plans were as follows; the conversion of the existing shop into a residential annexe, and a separate commercial store to the east side of the dwelling. For more information pleases contact the agents Rendells, or see www.dartmoor.gov.uk for the full details.

LOCAL AUTHORITY:
Teignbridge District Council. www.teignbridge.gov.uk. 01626 361101.

VIEWING:
Viewing can be arranged by prior appointment with the agents. Please contact Rendells Newton Abbot.

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Contact Agent

Rendells
Tel: 01626 353881