Lot
062
Auction Ends: 23/02/2022 14:26

The Isaac Merritt, 54-58 Torquay Road, Paignton, Devon TQ3 3AA

Property Details
Location
Auction Details
Description
A substantial end terrace public house comprising bar, servery and seating areas together with beers stores, kitchen, office, plant room, toilets and separately accessed manager's flat. To the rear of the property there is a beer terrace area. The property is let on a 7 year lease from February 2020 at a rent of £67,600 per annum. The property was fully refurbished during lockdown adding an additional bedroom to the manager's flat. Additionally we are informed that plans were being drawn to construct a five storey residential development that would sit above the current building and comprise 33 apartments with a mixture of 1 and 2 bedrooms, subject to planning.
Location
The property is located in the popular tourist town of Paignton, approximately 3 miles south of Torquay. The property is situated on the A3022 Torquay Road, close to the junction with Hyde Road, in the centre of the town.
Accommodation
We have not inspected the property but understand the accommodation to extend to approximately 671 Sq M (7,223 Sq Ft).

Ground Floor:Bar, Servery, Seating Areas, Cooled Bottle Store, Wine/Spirit Store
First Floor:Catering Kitchen, Beer Store, Manager's Office, Plant Room, Customer W/C's, Staff Room, Stores, 3 Bed Manager's Flat
Second Floor:Storage Rooms, Walk-in Freezer

Outside
There is a beer terrace to the rear of the property.
Approx Site Area
Approximately 578 Sq M (691 Sq Yds).
Tenure
Unknown
Planning
Interested parties should consult direct with the Local Planning Authority: Torbay Council, The Planning Department, Town Hall, Castle Circus, Torquay, TQ1 3DR. Telephone: 01803 207 801. Email: [email protected].
Tenancy
The property is let to Enterprise Leisure Invest Ltd by way of a 7 year lease from February 2020 at a rent of £67,600 per annum.
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
General
1. All the information provided on our website is for indicative purposes only and interested parties should rely upon the contents of the legal pack and their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 22ND FEBRUARY AND CLOSES ON WEDNESDAY 23RD FEBRUARY.

3. The property is entered in the 2017 Rating List as "Public House and Premises" with a Rateable Value of £92,700.

4. The residential accommodation is listed with a Council Tax assessment in Band B.

5. Energy Performance Certificate = E.

6. We are informed that plans were being drawn to construct a five storey residential development that would sit above the current building and comprise 33 apartments with a mixture of 1 and 2 bedrooms, subject to planning. The proposed development would not effect the current pub lease.

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