Description
A freehold, mixed-use premises for investment or a trader-occupier, comprising a retail unit with a separate maisonette over, plus a courtyard and outbuilding, in a prime town-centre location. Investment Opportunity; Modernisation Required; Recent Gross Yield of 8.2%; Council Tax Band: A; EPC Bands: both D.
Situation - The property occupies a prominent and prime trading position along Tavistock's bustling high street, close to Bedford Square and the renowned Pannier Market, and surrounded by a range of well-regarded independent shops, bars and restaurants. Nearby national occupiers include a Co-op supermarket, Boots, WH Smith, Superdrug, Mountain Warehouse, Costa Coffee, Crew Clothing and White Stuff. The bus station, taxi rank, the Wharf arts and entertainment hub, and Meadowlands Park and Leisure Centre are all within a short walk.
Tavistock is a thriving market town in West Devon, rich in history and tradition dating back to the 10th century. Today, it offers an excellent range of shopping, recreational and educational facilities. Plymouth, 15 miles to the south, provides extensive amenities, while Exeter, 40 miles to the northeast, offers rail and motorway connections to London and the wider UK, as well as an international airport.
Description - This three-storey, end-terrace, non-listed period building sits within the heart of Tavistock and offers a valuable, chain-free investment opportunity or the possibility for a trader/shopkeeper to live directly above their business.
The building comprises a ground-floor retail unit of 384 sq.ft, with a 2/3-bedroom maisonette of 876 sq.ft above, which is presently in need of some modernisation and improvement, with both elements currently vacant, allowing an incoming owner to put their plans into action immediately. The property additionally benefits from mains services, separate external access to the maisonette, a rear courtyard and a stone outbuilding/workshop, presenting further possibilities.
Maisonette - The maisonette is accessed via a gated side passage and an external entrance at ground floor level, where there is a small lobby for coats and boots. On the first floor, there is a front-facing sitting room with a cast iron fireplace set into a stone surround, a dual-aspect kitchen at the rear with a 4-ring gas hob and built-in oven, and a tiled bathroom with an electric shower over the bath. On the second floor, there is a front-facing principal bedroom with triple fitted wardrobes, and two further rooms at the rear, of which one is currently a through-room to the other.
Shop Premises - The commercial element comprises a front sales area with a large picture window looking directly onto Brook Street, and a rear sales area where there are kitchenette facilities and a door out to the rear courtyard.
Outside - Accessible through the shop or via the side passage, the courtyard is located to the rear of the building and contains a useful, versatile stone outbuilding with power and water connected, where there is a WC and washbasin historically serving the shop premises. The outbuilding could function as a workshop or studio, or potentially as a secondary trading area.
Tenure - The freehold interest is offered with vacant possession on completion. The shop was previously let on a commercial lease at £720 per calendar month (£8,640 per annum), while the flat was let on an Assured Shorthold Tenancy at £650 per calendar month (£7,800 per annum). Combined, the income produced a gross annual yield of 8.22% at the Guide Price, with both elements now likely to achieve higher rents if re-let in line with current market conditions.
Services And Outgoings - All mains services are connected. Gas-fired central heating in the flat. There is no heating system in the shop. Superfast broadband is available. Variable indoor mobile voice/data services are available through EE, O2 and Vodafone. (source: Ofcom's online service checker). Please note that the agents have neither inspected nor tested these services.
The maisonette is rated as Band A for Council Tax purposes. The shop has a Rateable Value of £8,600, adjusting to £7,500 from April 1st 2026. EPC Bands: both D.
