Property photos
Freehold
£315,000
Property for sale
Queen Street, Newton Abbot TQ12Local area information
Property location
Nearby amenities
- Wolborough Church of England (Aided) Nursery and Primary School 0.1 miles
- Bearnes Voluntary Primary School 0.1 miles
- Newton Abbot 0.4 miles
- Shaldon Teignmouth Ferry Landing 4.7 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Newton Abbot to find out more about the local area.
Features and description
- Freehold
- Town Centre Commercial Investment Property
- Entirely Let to Ladbrokes Betting & Gaming Ltd
- Renewed Lease for 15 Years from September 2024
- Rent £24,450 Per Annum
- Secure Income/Strong Covenant Strength Investment
Town Centre Commercial Investment Property. Entirely Let to Ladbrokes Betting & Gaming Ltd.
The property is located on Queen Street in central Newton Abbot, South Devon. Queen Street is an edge of prime town centre high street position. The property is in close proximity to the prime pedestrianised Courtenay Street area of the town centre.
Queen Street is a thriving retail area, recently subject to major infrastructure and road improvements. The surrounding areas a healthy mix of national multiple and independent operators and occupiers.
Ladbrokes have been in occupation of the property for many years and have recently committed to a new 15 year lease (details below).
Ground Floor
Retail Area
170m2 (1,830 sq ft).
With first and second floor ancillary office and plant areas.
Tenure
The whole property is to be sold freehold, subject to the commercial occupational lease.
The property is let to Ladbrokes Betting & Gaming Ltd under a renewed 15 year lease from September 2024.
Rent £24,450 per annum, exclusive.
The tenant has Full Repairing and Insuring liabilities.
There are Upwards Only Market Rent Review at each fifth anniversary.
The tenant has the option to determine the lease at each fifth anniversary by given not less than 6 months prior written notice.
Convenant
Ladbrokes Betting & Gaming Ltd is a subsidiary of Entain plc.
For the year ending 31st December 2022, the company reported 2,454 shops.
Operating Revenue was £1.033 billion.
Profits of £54 million.
Net Assets of £1.195 billion.
EPC Awaited
Legal Costs
Each party are to bear their own legal costs incurred in any transaction.
Viewing
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
The asset is occupied and a trading business, so interested parties are requested to be sensitive to the tenant’s ongoing operations.
The property is located on Queen Street in central Newton Abbot, South Devon. Queen Street is an edge of prime town centre high street position. The property is in close proximity to the prime pedestrianised Courtenay Street area of the town centre.
Queen Street is a thriving retail area, recently subject to major infrastructure and road improvements. The surrounding areas a healthy mix of national multiple and independent operators and occupiers.
Ladbrokes have been in occupation of the property for many years and have recently committed to a new 15 year lease (details below).
Ground Floor
Retail Area
170m2 (1,830 sq ft).
With first and second floor ancillary office and plant areas.
Tenure
The whole property is to be sold freehold, subject to the commercial occupational lease.
The property is let to Ladbrokes Betting & Gaming Ltd under a renewed 15 year lease from September 2024.
Rent £24,450 per annum, exclusive.
The tenant has Full Repairing and Insuring liabilities.
There are Upwards Only Market Rent Review at each fifth anniversary.
The tenant has the option to determine the lease at each fifth anniversary by given not less than 6 months prior written notice.
Convenant
Ladbrokes Betting & Gaming Ltd is a subsidiary of Entain plc.
For the year ending 31st December 2022, the company reported 2,454 shops.
Operating Revenue was £1.033 billion.
Profits of £54 million.
Net Assets of £1.195 billion.
EPC Awaited
Legal Costs
Each party are to bear their own legal costs incurred in any transaction.
Viewing
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths.
The asset is occupied and a trading business, so interested parties are requested to be sensitive to the tenant’s ongoing operations.
More information
Listed by
Bettesworths Commercial
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