A once-neglected commercial property in the bustling centre of Paignton, Devon, is up for auction this week, starting at the astonishingly low price of just £1.
The premises, formerly used as a sandwich bar and estate agency at 45 Hyde Road, has stood empty for several years. Auctioneers describe the site as a promising opportunity, waiting for an entrepreneurial spirit to breathe new life into it.
Set to be sold through Paul Fosh Auctions on Tuesday, September 2, this property is attracting significant interest. It follows in the footsteps of a similar bargain from earlier this year, when a two-bedroom flat near the seafront went to auction with a starting price of £1 and ultimately sold for £73,000.
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Sean Roper, a property auctioneer, highlights the potential this Hyde Road location offers: “The shop requires some finishing touches but enjoys a prime spot in Paignton’s town centre, close to local amenities and the popular seafront.
“It’s an ideal opportunity for a new or established business to set up shop in this vibrant seaside town, often called the heart of the English Riviera. Whether you want to start a new venture yourself or rent the space to a promising startup or relocating business, this is a commercial investment not to be missed.”
Situated near the former Crossways shopping centre site, which is slated for redevelopment into extra-care accommodation, Hyde Road remains a lively retail hub. Interest in the shop has already come from various businesses including a dog groomer, tattoo artist, barber, and letting agency.
Mr Roper adds, “A business owner could expect a rental income of around £900 per calendar month given the location’s foot traffic and desirability. What’s more, number 45 Hyde Road is one of the few vacant shops amid thriving neighbours like Hays Travel and the upscale hairdresser Trim and Tonic.”
Potential buyers may also consider the adjacent Lot 44—a portion of land behind the shop—available in the same auction with a nominal guide price. This could provide extra space or expansion possibilities for whoever wins the bid.
With bidding starting at a mere pound, this auction presents an extraordinary chance to secure a prime Paignton retail property at a fraction of the market cost.