Tel: 0208 004 9797

Market Street, Torquay, London, TQ1

For Sale - Freehold - Auction guide price of £215,000

Terraced, Freehold

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £215,000
This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

INVESTMENT OPPORTUNITY: High-Yield Mixed-Use Freehold

A powerhouse addition to any portfolio, this versatile freehold asset combines a prime retail frontage with a fully licensed, 6-bedroom HMO above. Situated in the heart of Torquay, this property offers a "turn-key" solution for investors looking for multiple, established income streams.

The Commercial Element (Ground Floor)
The street-level retail unit provides a steady anchor. Currently operating under a 12-month agreement (commenced June 2024), it produces an annual return of £4,800 PA.

Principal Shop Floor (8.25m x 4.46m): A high-specification fit-out with a prominent glazed frontage on Market Street.
Ancillary Space: Includes a rear lobby with storage, a dedicated Kitchenette (3.33m x 3.06m), and a versatile Private Office/Treatment Room (3.19m x 2.13m) plus WC.
Business Rates: 2023 Valuation is £5,600; the unit is eligible for 100% Small Business Rate Relief through Torbay Council.

The Residential HMO (Upper Floors)
Spanning the first and second floors with a private street-level entrance, this fully occupied 6-bedroom HMO generates a combined monthly income of over £2,880 PCM.

First Floor:
Room 5 (3.86m x 3.42m): Spacious double with a private En-suite (£520 pcm).
Room 4 (5.69m x 3.88m): Grand front-facing double (£606 pcm).
Room 3: Comfortable double with wash hand basin (£505 pcm).

Facilities: Modern communal shower suite with electric towel rail.
Second Floor:
Social Hub (3.80m x 4.18m): A well-appointed, dual-cooker kitchen and communal dining area.

Room 1 (3.65m x 2.82m): Quiet rear double (£411.66 pcm).
Room 2 (4.00m x 2.86m): Bright front double (£411.66 pcm).
Room 6 (2.94m x 2.85m): Double room with front aspect (£430 pcm).

Facilities: Additional communal shower room and separate guest WC.

Location & Connectivity:
Town Centre Convenience: Located just a 2-minute walk from Union Square Shopping Centre and the new NHS Diagnostic Centre.
Transport Links: Approx. 25-minute walk to Torquay Train Station for direct links to Exeter and London Paddington.
Lifestyle: Moments from Torquay Harbour, the Marina, and the vibrant cafes of the English Riviera.

Key Auction Information:
HMO Status: Fully licensed with Torbay Council (19a Market Street).
Council Tax: Band B.
Efficiency: Commercial EPC: D | Residential EPC: E.

Auctioneers Additional Comments:
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.