- Substantial block of lock-up garages
- workshops and an area of garden
- In all
- occupying an area of 0.28 acres
- Central location
- close to the high street
- Most garages/workshops currently occupied on tenancy agreements
- Excellent investment opportunity
- Rental income circa £30,000 per annum
- Scope and potential for residential housing development (subject to planning permission)
This property listing is now SSTC
Land for sale in Devon
Substantial block of lock-up garages, workshops and an area of garden
In all, occupying an area of 0.28 acres
Central location, close to the high street
Most garages/workshops currently occupied on tenancy agreements
Excellent investment opportunity
Rental income circa £30,000 per annum
Scope and potential for residential housing development (subject to planning permission)
Mains electricity, water and drainage to the site
Extremely rare opportunity - DON'T MISS OUT!!
Situated in a convenient town centre location, just off the high street and close to all of the local amenities, this substantial block of garages and workshops and an area of garden occupies a total site area of 0.28 acres. There are 28 units within the complex in total with the vast majority of those units occupied by tenants which gives a total gross income in the region of £30,000 per annum. There is further, more detailed information on the current tenancies available within a Legal Pack which is available upon request.
The site is set up in three sections and comprises Hostle Park Garages, Portland Mews and the area of garden to the rear. Portland Mews comprises 16 single lock-up garages together with a larger two storey workshop which is divided into two separate letting units. Portland Mews is made up of 8 single lock-up garages and a further 4 workshops which are split over two storey accommodation. The area of garden which sits to the rear of the site amounts to 0.04 acres and measures approximately 29.4m (96ft) long by 5.43m (18ft) wide. At present, the garden area is a well stocked and enclosed but can only be accessed via one of the larger workshops.
The garage units are all fairly standard sized garages. The larger workshop units are much bigger and offer excellent space for a wide variety of different pursuits and activities. Recently, one of the larger ground floor units was used as a car mechanic's workshop.
This substantial block represents an extremely rare opportunity to purchase an excellent investment but there is also considerable scope and potential for future development of the site, subject to planning permission and any other relevant consents. It is considered that the site is large enough to build a mews style residential housing development, as an example.
Services to the site currently include mains electricity, water and drainage. Please note not all of the garages/units benefit from access to these services.
Applicants are advised to proceed from our offices in an easterly direction along the High Street. Follow the road on into Portland Street and continue up the hill turning first right into Hostle Park Road. Follow the road around to the right and the entrance to the site will be found on the right-hand side, 30 metres up the hill.
Important information
This is not a Shared Ownership Property
This is a Freehold property.
Property Ref: 55837_ILF230286
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