Description and Situation
A single story industrial/works shop unit with yard to side and further storage together with a small independent self-contained unit currently sublet very close to Paignton town centre.
Until recently used as local depot for National Tyre Services and suitable for a variety of uses subject to consent.
Accommodation
The main workshop building measures some 11.25m wide by 23.5m deep—263 sqm and benefits from two roller shutter doors to external road and one from the internal yard.
Additional tyre store area with welfare block on other side of yard affords a further 84.73sqm in two areas with pedestrian access only.
The lease also includes an additional unit of 37.97sqm (408 sqft), which is sublet on a 6 year lease from July 2024 with 3 year review at £52,00 p.a..The tenant has a break clause in July 2027 and the lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954 part 2.
Lease
25 years from 10th April 2008, subject to periodic rent reviews linked to RPI index on effective FRI terms.
The current reserved rent is £27,880p.a. so the net rent payable if you took an assignment would be £22,680 p.a.
NB: Halfords would consider a sublease to 25th March 2033 at a rent to be agreed, subject to it being outside the security of tenure provisions of the Landlord and Tenant Act 1954 part 2.
Rateable Value £13500 p.a.
EPC—”C”
VAT
All prices and rents quoted are exclusive of VAT where chargeable
Garage Equipment
We understand that our clients are currently reviewing the equipment left on site with a view to reallocate items to other branches. However, if any prospective tenant would like any item or items, they would be prepared to consider leaving them in situ subject to agreeing a suitable consideration payable on completion.
Viewing by appointment only contact Nick Wheeldon MRICS 07711 626 020
