266 - 276 Torquay Road - Pembroke House, Paignton, DEV

Pembroke House comprises a purpose built office building constructed in the 1960s of concrete frame construction with accommodation arranged over ground and three upper floors. The ground floor is configured for retail use.

The property has recently been comprehensively refurbished. The refurbishment works included new double glazed window units and a new insulated Sarnafil roof which has a 20 year guarantee.

Externally there is a car park to the rear providing 10 car park spaces.
The property is prominently located fronting directly on to the A3022 Torquay Road. The main retailing facilities of Paignton town centre are situated approximately 1.6kms (1 mile) to the south.

Paignton is located on the south coast of Devon approximately 42kms (25 miles) south west of Exeter. Road communications to the town are good with the A380/A38 providing dual carriageway access to J31 of the M5 motorway at Exeter approximately 28kms (17 miles) to the north. Rail services to London Paddington are available in approximately 3 hours.

Sale Notes:
The investment opportunity comprises the entire building, with mixed uses of retail, office, and doctors surgery.
Offers in the region of £1.7 million reflecting a net initial yield of 6.62%.
Uncapped RPI linked secure income stream totalling £119,023pa.
60% of the income derived from Tesco Stores Ltd with 12 years unexpired. 34% of the income derived from Day Lewis Chemists Ltd with 13 years unexpired - supported by presence of Doctor’s Surgery on 1st and 2nd floors.