Auction Lot: Consol Tanning Investment, Newton Abbot

The ground floor is let to Consul Tanning Ltd (operating 50+ sites across the UK) for 10 years from 07/09/2018. A tenant-only break clause at 5 years was not exercised and a rent review from 2023 was not actioned. The flats are held on leases for 125 years from 01/05/2022, each producing £100 pa (rising to £200 pa 01/05/2027). We refer bidders to the copy S5B Notices served on the lessees who have not taken up their rights.
The 3D tour can be viewed here: https://my.matterport.com/show/?ref=em&m=GbkWa4urCCS

• Our Ref: CD-90277
• Auction Lot
• Reserve not higher than £195,000
• Town centre freehold building
• Ground floor commercial premises (1173 sq ft, source EPC),
• Let to Consol Tanning producing £20,000pa
• Upper parts comprise 4 x self-contained flats (sold off)
• Producing combined ground rent of £400 pa.
• FH Price: £195,000 Guide Price