57 High Street, Totnes, Devon, TQ9 5NP
- SIZE AVAILABLE
1,657 sq ft
154 sq m
- SECTOR
Commercial property for sale
Key features
- Prime Retail Investment Opportunity For Sale
- Approx. 1,657 sq ft (153.95 sq m)
- Let to Children's Hospice South West
- Saltrock, Seasalt, Mountain Warehouse and Superdrug located in close proximity
- The town is popular with local and regional independent retailers
- Prominent former bank premises with wide gross frontage of approx. 7.11 m on the High Street plus additional return frontage down Castle Street
- Quoting price of £425,000 ex. A purchase at this level reflects a net initial yield of 6.99% after an allowance for purchasers' costs of 4.33%
Description
The wide, approx. 7.11m, frontage from the High Street, benefits from additional return frontage down Castle Street where the entrance to the self contained residential flat above is accessed.
Location
Located in a prominent position in the heart of the popular market town of Totnes, no. 57 High Street benefits from ease of access to the local amenities and car parks.
The attractive, listed, former banking hall commands an end of terrace location adjoining the top of the Butterwalk & within close proximity to the Market Square. Totnes has a wealth of national and independent retailers and cafes including, Saltrock, Sea Salt, the Bowie gallery, Mountain Warehouse, Ben's Wine and Tapas, WH Smith & Superdrug.
Totnes is the second largest town in the South Hams with a population of approximately 10,000 people and serves a large area of surrounding parishes.
The town is known for its vitality and creativity, with a nationally recognised heritage, including a medieval town-centre layout.
The attractiveness and ease of accessibility to the surrounding countryside, ensure Totnes is regarded as a desirable place to live & work. It also benefits from national mainline railway links to London.
The property is understood to date back to the 1860's and No 57 is an attractive 2 storey property with an impressive columned and pedimented frontage returning to Castle Street.
Internally, the listed property provides characterful accommodation currently arranged to provide a ground and rear ground floor sales area with an ancillary lower ground floor.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Ground Floor Sales: approx. 1,000 sq ft (92.91 sq m)
Basement Storage: approx. 657 sq ft (61.04 sq m)
Total: approx. 1,657 sq ft (153.95 sq m)
Planning
The amended use classes would mean this property could be used for E class uses. Please enquire for further information.
Rent / Price
£425,000 Guide Price. A purchase at this figure reflects a NIY of 6.99% at the passing rent of £31,000 per annum (taking purchase costs at 4.33%).
Business Rates
From the Valuation Office Agency website ( we understand that the current Rateable Value is £20,000 therefore making the approximate Rates Payable £9,980 per annum for 2023/24.
Services
We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
D (85)
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
We understand that the property has not been elected for VAT at this time. The landlord reserves the right to alter this election.
Brochures
57 High Street, Totnes, Devon, TQ9 5NP
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Totnes Station0.5 miles
Vickery Holman is a multi-disciplined property company, the roots of which can be traced back as far as 1848. Today, the consultancy has more than 60 people working in four offices, strategically placed across the South West. Vickery Holman is a limited company, owned by its employees, and is a member of the RICS (Royal Institution of Chartered Surveyors).
Our consultants offer a full spectrum of skills in all areas of property, from all aspects of general practice and building surveyin
Notes
Disclaimer - Property reference 20983FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Vickery Holman, Exeter. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.