Torquay TQ2

This freehold mixed-use property presents a compelling investment and development opportunity in the heart of Torquay. Located on Fleet Street, a key commercial artery, it enjoys excellent foot traffic and accessibility to local amenities, including the seafront and various dining options. The ground floor currently operates as a jewellers under a lease agreement with Warren James, generating an annual rental income of £15,000 starting September 2025. Notably, the upper floors are vacant but come with approved planning permission for the conversion into four residential units — two 1-bedroom and two 2-bedroom flats — adding substantial value to the property. This permission is valid until February 2028, allowing for immediate development potential. The property's strategic location and existing income from the retail unit make it an attractive prospect for investors looking to enhance their portfolio through targeted renovations or further development. With its versatile space, the building could also benefit from creative redevelopment ideas under permitted development rights.