Property photos
£265,000
(£456.11/sq. ft)
Office for sale
Queen Street, Newton Abbot TQ12581 sq. ft
Local area information
Property location
Nearby amenities
- All Saints Marsh CofE Academy 0.1 miles
- Bearnes Voluntary Primary School 0.2 miles
- Newton Abbot 0.2 miles
- Shaldon Teignmouth Ferry Landing 4.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Newton Abbot to find out more about the local area.
Features and description
- Mixed use Investment Premises
- Prominent location in Newton Abbot Town centre
- Ground floor Office
- Fully refurbished 2 bedroom flat over
- Currently rented with a income of £21,350 per annum
- Ideal first time mixed use investment property
Situation and description
Newton Abbot is a busy market town, being the commercial centre and heart of the Teignbridge area with a district population of approximately 121,000 extending to some 300,000 within 12.5 miles of the centre. Newton Abbot benefits from a wide catchment area drawing from a large number of small towns and villages in the surrounding area. The premises are just a short walk from the town centre in one direction or the Main Line Railway Station in the other. Newton Abbot offers convenient access to the A380 Exeter to Torquay dual carriageway joining with the M5 Motorway at Exeter, which is approximately 15 miles distant, or Torbay and Torquay to the South which is approximately 10 miles distant.
The premises are centrally and prominently located fronting Queen Street, the main spine road running through the town offering a high degree of visibility. The property is convenient for a number of public car parks and the professional office area of Devon Square and St Pauls Road. The Ground Floor Retail Unit has been refurbished and is now let to a specialist recruitment agency. Accessed from the rear off of Oak Tree Place is a recently converted 2 bedroom flat offering spacious and well-appointed accommodation. The property is fully let and producing a useful income.
Accommodation
Brief details of the accommodation with approximate maximum internal dimensions are as follows:-
Ground floor retail unit
Accessed from Queen Street via a central recessed door to ……..
Retail Area 9.00m x 4.95m (29’6” x 16’3”) max
Double fronted shop front with recessed central glazed door Glazed window display. LED lighting and power as fitted. Entrance Carpeted. 4 Electric radiators. Shelving fitted to alcoves. 2 steps lead up to the rear area. Doorway to ….
Rear Office / Staff Room 3.06m x 2.83m (10’0” x 9’3”) max
LED lighting. Vinyl flooring. Kitchen Area with wall and base units with worktop and inset stainless steel sink unit with single drainer.
Office 3.63m x 2.19m (11’11” x 7’2”) max
LED lighting. Shelving to alcove. Carpeted. Electric radiator.
Door to rear Lobby with wash hand basin, rear fire escape and door to ….
Toilet
Low level WC suite.
First floor flat
Accessed from Oak Place via a shared approach with door to ….
Kitchen 4.20m x 2.92m (13’9” x 9’7”) max
Range of wall and base units with worktop and inset stainless steel sink and drainer plus inset 4 ring electric ceramic hob with electric oven under. Extractor over. Vinyl floor. Space for fridge. Tiled splashback. Radiator.
Sitting Room 4.08m x 2.19m (15’10” x 7’2”) max
Central room with vinyl flooring. Radiator. Ceiling light and power as fitted.. Doors to ….
Bathroom
Well fitted with panelled bath with over batch mixed shower unit with glass screen. Wall mounted heated towel rail. Vanity basin with cupboard under. WC suite. Part tiled walls. Vinyl flooring.
Dining Area 4.82m x 2.19m (15’10” x 7’2”) max
Range of wall and base units with worktop and inset stainless steel sink unit with single drainer. Space for fridge. Tiled splashback. Power and lighting as fitted.
Bedroom No 1 3.97m x 2.50m (13’0” x 8’2”) max
Window to front. Vinyl flooring. Radiator. Access to roof void.
Bedroom No 2 2.96m x 2.57m (9’9” x 8’5”) max
Window to front. Radiator. Vinyl flooring.
Externally
To the rear of the property is a shared area for bins / bikes etc.
Services
We have been advised that mains water, drainage and electricity are available to the premises. The Flat also has gas connected.
Energy performance certificate
An EPC has been obtained, a summary is available to download from the web site. The rating for the Ground Floor Offices is: C 65 and the Rating for the Flat is:
Business rates
Rateable Value: - £9,000 (2023 Valuation list)
We understand that a rates reduction of up to 100% could be available on the premises under the Small Business Rate Relief scheme for qualifying businesses. For further information please contact the Business Rates department at Teignbridge District Council council tax band
23 Oak Place Newton Abbot – Band A (Teignbridge District Council)
Tenancy
The Ground Floor is let on a 6 year Fri lease by way of service charge from the 3rd May 2024 at a rent of £9,950 per annum with a rent review and tenant only break clause at the end of the third year. The lease was contracted outside of the security of tenure provisions of the Landlord and Tenant Act.
The flat is currently occupied on an AST agreement from the 8th September 2024 at a rent of £950 pcm (£11,400 per annum).
Price
Offers are sought in the region of £265,000 for the freehold of this prominent and well presented town centre premises subject to and with the benefit of the lease of the ground floor and the AST of the flat producing a combined rent of £21,350 per annum, therefore offering an investor a gross return of just over 8% before purchase costs.
Legal costs
Each party are to be responsible for their own legal costs.
Viewing
Strictly by prior appointment only with the sole agents, for the attention of Tony Noon Ref (0824)
Newton Abbot is a busy market town, being the commercial centre and heart of the Teignbridge area with a district population of approximately 121,000 extending to some 300,000 within 12.5 miles of the centre. Newton Abbot benefits from a wide catchment area drawing from a large number of small towns and villages in the surrounding area. The premises are just a short walk from the town centre in one direction or the Main Line Railway Station in the other. Newton Abbot offers convenient access to the A380 Exeter to Torquay dual carriageway joining with the M5 Motorway at Exeter, which is approximately 15 miles distant, or Torbay and Torquay to the South which is approximately 10 miles distant.
The premises are centrally and prominently located fronting Queen Street, the main spine road running through the town offering a high degree of visibility. The property is convenient for a number of public car parks and the professional office area of Devon Square and St Pauls Road. The Ground Floor Retail Unit has been refurbished and is now let to a specialist recruitment agency. Accessed from the rear off of Oak Tree Place is a recently converted 2 bedroom flat offering spacious and well-appointed accommodation. The property is fully let and producing a useful income.
Accommodation
Brief details of the accommodation with approximate maximum internal dimensions are as follows:-
Ground floor retail unit
Accessed from Queen Street via a central recessed door to ……..
Retail Area 9.00m x 4.95m (29’6” x 16’3”) max
Double fronted shop front with recessed central glazed door Glazed window display. LED lighting and power as fitted. Entrance Carpeted. 4 Electric radiators. Shelving fitted to alcoves. 2 steps lead up to the rear area. Doorway to ….
Rear Office / Staff Room 3.06m x 2.83m (10’0” x 9’3”) max
LED lighting. Vinyl flooring. Kitchen Area with wall and base units with worktop and inset stainless steel sink unit with single drainer.
Office 3.63m x 2.19m (11’11” x 7’2”) max
LED lighting. Shelving to alcove. Carpeted. Electric radiator.
Door to rear Lobby with wash hand basin, rear fire escape and door to ….
Toilet
Low level WC suite.
First floor flat
Accessed from Oak Place via a shared approach with door to ….
Kitchen 4.20m x 2.92m (13’9” x 9’7”) max
Range of wall and base units with worktop and inset stainless steel sink and drainer plus inset 4 ring electric ceramic hob with electric oven under. Extractor over. Vinyl floor. Space for fridge. Tiled splashback. Radiator.
Sitting Room 4.08m x 2.19m (15’10” x 7’2”) max
Central room with vinyl flooring. Radiator. Ceiling light and power as fitted.. Doors to ….
Bathroom
Well fitted with panelled bath with over batch mixed shower unit with glass screen. Wall mounted heated towel rail. Vanity basin with cupboard under. WC suite. Part tiled walls. Vinyl flooring.
Dining Area 4.82m x 2.19m (15’10” x 7’2”) max
Range of wall and base units with worktop and inset stainless steel sink unit with single drainer. Space for fridge. Tiled splashback. Power and lighting as fitted.
Bedroom No 1 3.97m x 2.50m (13’0” x 8’2”) max
Window to front. Vinyl flooring. Radiator. Access to roof void.
Bedroom No 2 2.96m x 2.57m (9’9” x 8’5”) max
Window to front. Radiator. Vinyl flooring.
Externally
To the rear of the property is a shared area for bins / bikes etc.
Services
We have been advised that mains water, drainage and electricity are available to the premises. The Flat also has gas connected.
Energy performance certificate
An EPC has been obtained, a summary is available to download from the web site. The rating for the Ground Floor Offices is: C 65 and the Rating for the Flat is:
Business rates
Rateable Value: - £9,000 (2023 Valuation list)
We understand that a rates reduction of up to 100% could be available on the premises under the Small Business Rate Relief scheme for qualifying businesses. For further information please contact the Business Rates department at Teignbridge District Council council tax band
23 Oak Place Newton Abbot – Band A (Teignbridge District Council)
Tenancy
The Ground Floor is let on a 6 year Fri lease by way of service charge from the 3rd May 2024 at a rent of £9,950 per annum with a rent review and tenant only break clause at the end of the third year. The lease was contracted outside of the security of tenure provisions of the Landlord and Tenant Act.
The flat is currently occupied on an AST agreement from the 8th September 2024 at a rent of £950 pcm (£11,400 per annum).
Price
Offers are sought in the region of £265,000 for the freehold of this prominent and well presented town centre premises subject to and with the benefit of the lease of the ground floor and the AST of the flat producing a combined rent of £21,350 per annum, therefore offering an investor a gross return of just over 8% before purchase costs.
Legal costs
Each party are to be responsible for their own legal costs.
Viewing
Strictly by prior appointment only with the sole agents, for the attention of Tony Noon Ref (0824)
More information
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