Town Centre Property with Development Potential (STPP) reaches the market

Property Consultants Alder King has been solely instructed to dispose of the freehold or leasehold interest in a Torquay town centre property.  The property occupies a prominent position on Braddons Hill Road West, overlooking the main retail area, with close proximity to retailers such as Burger King and Tesco Express.
The property was recently used as a restaurant with residential accommodation on the first and second floors.
There is potential to split the ground floor into two retail units, with the existing residential accommodation converted to provide six to eight individual flats, subject to the necessary planning consents.
Lee Southan of the Alder King Exeter office says: ‘This central premises benefits from a great location in central Torquay. We think this opportunity will attract interest from developers, owner occupiers and retailers alike.’
The freehold interest in the whole of the accommodation is available off an asking price of £450,000, subject to contract.  Alternatively the leasehold interest is available as a ground floor retail unit at £17,500 pax, and the first and second floor accommodation available as a maisonette at £10,000 pax.