Totnes, with a population of around 8,000, is an historic and busy market town in centre of the South Hams in South Devon. Totnes is known for its thriving and vibrant community feel with a retail centre that is very popular with locals and visitors alike. This flourishing town centre is home to a many retail, catering, leisure, occupiers both multiple and independent.
Totnes is approximately 20 miles South West of Exeter, 24 miles East of Plymouth and 6 miles West of Torbay. The town sits at the heart of South Devon, on the banks of the River Dart. This unique and charming town has an international reputation for its lively and diverse community and relaxed atmosphere.
18 Fore Street comprises a substantial Grade II Listed retail fronted, mixed use property that has been subject to considerable updating and modernisation in recent times. This has included addition of a smart ground floor flat to the rear of the property and a programme of works to ensure compliance with current fire and safety regulations.
The property is held as an investment with each individual flat let on an Assured Shorthold Tenancy Agreement, with monthly rents ranging from £400-£650 per calendar month.
The ground floor retail unit is let on an Internal Repairing and Insuring. This lease has expired and is excluded from the Security of Tenure provisions of the Landlord and Tenant Act, 1954; meaning that the Landlord has the option of arranging and new lease with the existing tenant or for potentially taking more proactive asset management steps with the reletting of the shop.
The property is ideal for those looking for a well-established, quality, mixed use investment in a highly valuable location, with opportunity to increase the rental income.
The property now comprises a ground floor lock up retail unit and six self-contained flats/studio apartments. The full tenancy schedule is detailed below.