Summary - 292 UNION STREET TORQUAY TQ2 5QZ
3 bed 1 bath Flat
Three-storey asset with immediate income and refurbishment potential near Torquay centre.
Freehold mixed-use building with three self-contained units
A three-storey mixed-use freehold near Torquay town centre offered at public auction. The ground floor comprises a self-contained office currently let on a rolling assured shorthold tenancy producing £6,240 pa. The first-floor one-bedroom and second-floor two-bedroom flats are vacant, both with gas central heating and double glazing; there is a large rear storeroom with natural light that could provide additional accommodation subject to consents.
This is a clear opportunity for an investor or developer prepared to manage short-term voids and pursue modest works. The guide price and existing income provide immediate yield with scope to increase returns through refurbishment or re-letting. All units are individually metered and the upper floors already benefit from mains gas heating.
Buyers must note material drawbacks: the property is sold at public auction and is the subject of public notice/repossession, broadband speeds are very slow, and the location sits within a very deprived area with very high crime levels. On-street parking only; nearby public car parks available. Any conversion or extension proposals will require appropriate planning and building consents.
For investors the combination of a low entry price, part-income and potential to add accommodation gives upside, but the asset will require hands-on management and likely refurbishment. Viewings and legal checks are essential before bidding at the auction on 23 October 2025.
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