Key Features

• Prominently located commercial property investment portfolio in popular South Hams town Totnes.
• Portfolio comprises of 3 separate buildings all in close proximity with a total of 20 commercial letting units.
• Tenants include Loungers UK limited, Clarity Wealth, Bartons Solicitor, Marchand Petit Estate agents and many other local independents.
• Well secured multi let investment currently producing £268,991 pax
• Seeking offers in the region of £3million for the whole (but will consider splitting) reflecting a net initial yield of 8.42%

Description

THE PLAINS
The Plains Shopping Centre is a three-storey Grade II listed and well-positioned retail destination in the heart of Totnes Town Centre, framed by Dartmouth Close to the south, Ticklemore Street to the west, and The Plains to the east. The development has an internal L shaped walkway through the middle from The Plains through to Ticklemore Street splitting loungers and Harmans Bagel shop from the remainder of the retail. This attractive investment comprises a mix of retail and residential (long leasehold) units, featuring twelve individual commercial spaces, offering an excellent opportunity to acquire a versatile and income-generating town centre asset.
From the front of the property there are four retail units that are visible from The Plains four along Dartmouth Close & a further five to the rear elevation on Ticklemore Street. The largest of the units fronts The Plains and comprises of substantial ground, first and second floor retail unit occupied by Bruto Lounge (Loungers UK Limited) as a café / bar / lounge. Apart from 1 Dartmouth Close, which is a two-storey unit all the remaining retail units are all ground floor lockup shops, An L shaped walkway runs through the interior of the centre linking The Plains and Ticklemore Street with 6 of the retail units have their entrances leading off the walkway. Additionally, there are service cupboards and a series of 3 interlinks stores retained by the landlord off the walkway together with a WC used by one of the units.
The upper floors of the development are occupied by attractive residential flats, all sold on a long leasehold basis, offering a stable and established income stream. Catherine House comprises five flats accessed via a dedicated entrance on Ticklemore Street. At 8 The Plains, there are six flats, most of which benefit from convenient lift access. The distinctive Stonehaven unit is accessed from Dartmouth Close, featuring a private roof terrace above 1A Dartmouth Close and positioned above the retail units on Ticklemore Street, adding a unique and appealing residential element to the scheme. While the centre does not include external amenity areas, service yards, or dedicated parking, its prime town centre location ensures excellent accessibility and strong connectivity to the vibrant Totnes retail and leisure environment.

WATERSIDE
Prominently located on the junction of The Plains, Coronation Road, Fore Street and Bridgetown, the property comprises a number of ground floor commercial units together with a three-storey Grade II Listed building at Nos. 9 and 11-12 Waterside overlooking the River Dart.
Units C1, C2, C3 and C5 are occupied by Waterside Bistro and operate as a single restaurant and bar.
Units C1-C3 are internally connected and provide the main bar, dining areas, commercial kitchen, beer cellar, and customer cloakrooms, including disabled WC facilities. Unit C5 is a separate lock-up unit that has been incorporated into the business and provides additional kitchen and preparation space, a manager's office, freezer storage, and staff facilities. The bistro also benefits from external seating areas on the adjacent Town Quay and a part-covered seating area to the eastern side.
Unit C4 is a separate lock-up retail unit occupied by Food for Thought, a sandwich and deli shop. We were unable to inspect internally, but the unit appears fitted for food retail use and is understood to include staff facilities.
Units C6 and C7 form a combined retail and office unit occupied by Marchand Petit Ltd, an estate agent. The premises are fitted as offices with display areas, a rear office, staff kitchen and cloakroom.
Unit C9 is a retail/office unit occupied by Clarity Wealth Management LLP and is fitted as offices with a staff kitchen and cloakroom.
Unit C10 is a retail unit occupied by Inspired Buys, an independent gift shop, and includes staff cloakroom facilities.

5 THE PLAINS
The property comprises of 3 storey mid terrace Grade II listed building located within which at ground floor level there is a lockup shop trading as Totnes Grill Takeaway with a customer waiting area, central cooking area, and preparation area to the rear. Externally there is a small courtyard providing a useful area for bin storage. To the south elevation a staircase leads to a small first floor store housing freezers and staff WC. To the south of the shop there is separate pedestrian access to the upper floor flats which have been sold off on a long leasehold basis