A substantial freehold, commercial and residential investment property, situated in a prime location occupying a prominent position on the main Torquay to Paignton road at Preston. This position is sought after for both commercial users and residential occupiers.
This substantial building comprises on the ground floor two retail shops, which have been connected and occupied by local Estate and Letting Agents, Wood Bryce Baker. A spacious showroom until recently used as a motor bike showroom, with rear workshops. At the rear a range of commercial buildings let as a car repair garage and MOT station. On the first and second floors there are 8 residential flats.
The current rent roll equates to £55,300 per annum, with 2 of the flats and the showroom Vacant, with these let the potential income would be in the region of £80,000 with further growth potential.
This property which has been in the same ownership for many years is offered for sale by the Executors and best and final offers are invited, with details of the purchasers ability to proceed.
This is a rare investment/redevelopment opportunity with immense potential for splitting and selling as separate units and further development. Further details and information please contact the Agents, Bettesworths.