Freehold mixed-use investment property in a central Kingsbridge location, fully let and within easy walking distance of the town centre, quay and local amenities.
LOCATION
Farthingmead is situated in a convenient and central location in Lower Union Road within walking distance of the town centre, the Promenade and quay. The town is well represented with a range of national and independent shops, including TG Jones, Boots the chemist, Peacocks and Costa.
Kingsbridge is a popular market town with a resident population of about 6,000 with a far reach over the surrounding countryside and coast.
The harbour town of Salcombe is about 7 miles by road, Totnes with a mainline railway station about 14 miles, the city of Plymouth about 20 miles to the west and Exeter about 40 miles to the North.
DESCRIPTION
Farthingmead comprises a two storey mainly stone built property with externally stone faced and rendered elevations under a pitched roof. The property is currently let on the first floor to someone trading as Two Rooms and the ground floor is let.
ACCOMMODATION
The premises on the first floor are entered up steps to a pedestrian door from Lower Union Road frontage and comprises a storeroom with ample display area and WC on the first floor. The ground floor is accessed through pedestrian doors direct from Lower Union Road and the premises are currently used for storage purposes.
AMENITIES
The premises are within walking distance of the town centre amenities.
SERVICES
Mains electricity, water and drainage are connected.
TENURE
Freehold.
LEASE
The property is offered for sale freehold as an investment subject to the lease on the first floor dated 7 February 2025 for three years and ending on 6 February 2028 at a rent of £5,500 per annum payable by equal monthly instalments in advance.
The ground floor premises are let on the terms of a lease dated 7 February 2025 for three years and ending on 6 February 2028 at a rental of £5,500 per annum payable by equal monthly instalments in advance.
RATES
We have checked on the VOA website and the premises have a rateable value of £7,600.
VAT
All figures within these terms are exclusive of VAT at the prevailing rate where applicable.
LEGAL COSTS
Each party to bear their own legal costs in this transaction.
VIEWINGS
Strictly by appointment with the sole selling agents Luscombe Maye, 62 Fore Street, Kingsbridge TQ7 1PP. Tel: 01548 857474
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