Commercial and Residential Investment - Bideford

Sold
Ref
1737
£449,950
(OIRO)
Investment Property Bideford
Investment Property Bideford
Investment Property Bideford
Investment Property Bideford
Investment Property Bideford

51.017002730219, -4.2048694010965

Call 01237 424053 for more information

Download Details Print Ask A Question
Share this property

Quayside Investment Property - Fully Let - Consisting of 3 Shops and 4 Flats

  • Highly prominent Quayside and Town Centre location
  • 3 shops producing income of £20,162 per annum, Tenants including a national hearing aid centre and Estate Agents
  • 4 flats, each with river views, fitted kitchens and gas central heating
  • Rental from flats £19,740 per annum
  • Exterior decorated in 2019
  • Showing a rental return of 9%

THE ACCOMMODATION (comprises)

 

2 THE QUAY

382 sq.ft (36 sq.m) Single fronted retail unit, kitchen and toilet facilities.  Rateable Value £6,100.

3 THE QUAY

284 sq.ft (26 sq.m) Single fronted retail unit, separate toilet facilities.  Rateable Value £4,900.

4 THE QUAY

340 sq.ft (32 sq.m) Double fronted retail unit, toilet facilities.  Rateable Value £5,400.

 

UPPER FLOORS

Accessed from a street level entrance on The Quay, leading to hallway with fire system, timed lighting

 

FIRST FLOOR

FLAT 1

Lounge/kitchen/diner with fitted kitchen, central heating, double bedroom, 3 piece bathroom

FLAT 2

Lounge/diner, fitted kitchen, central heating, 2 x double bedrooms, 3 piece shower room

 

SECOND FLOOR

 

FLAT 3

Lounge/kitchen/diner with fitted kitchen, central heating, double bedroom, 3 piece bathroom

FLAT 4

Lounge/diner, fitted kitchen, central heating, 2 x double bedrooms, 3 piece shower room

Commercial Funding

Having been in the trade for many years we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.

Important Notice

JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:

  1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
  2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
  3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
  4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

Property Misdescriptions Act 1993

  1. All measurements are approximate.
  2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
  3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

Viewing

By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
TEL: (01237) 424053 / 07868 846357 E-MAIL: [email protected]

LOCATION

Bideford is the administrative centre of the Torridge area and has a static population in the order of 13,000.  Barnstaple, the sub-regional centre of North Devon, lies approximately 9 miles to the east, with access along the North Devon Link Road to the M5 at Tiverton.  Barnstaple has a static population in the order of 25,000 with a shopping catchment population of 141,000.

THE SITUATION

The premises are situated on The Quay overlooking the River Torridge and Bideford Old Bridge.  There are a wide variety of retail, office and leisure users in the immediate vicinity with The Quay being the main arterial road into and through Bideford.

THE PROPERTY AND CONSTRUCTION

The premises is of three storey construction under a pitched slate roof, with 3 retail units at ground floor level, 2 with single frontage and 1 with a double frontage.  There is a street level entrance to the residential parts which consists of 2 x two bedroomed flats and 2 x one bedroomed flats, one of each on each floor.  All of the flats benefit from river views, fitted kitchens and central heating.  There is a fire system and timed lighting within the common parts, as well as an intercom system within each flat.  The property was redecorated externally in 2019.

THE PROPOSAL

Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies.  The property is Grade II Listed.

THE TENANCIES

2 The Quay - Let to Amplifon, having been a hearing aid centre for 35 years.  Let for 10 years (Tenants break at year 5) from June 2020, rent £7,500 per annum.

3 The Quay - Let to Kimberley's (beauticians), having occupied for 8 years.  Let for 5 years, from April 2016, rent £5,162 per annum.

4 The Quay - Let to Stags Estate Agents.  Let for 15 years from February 2007, rent £7,500 per annum.

Leases provision for a service charge contribution from each commercial Tenant towards external repairs, maintenance and buildings insurance.

Flat 1 - 1 bedroomed, £4,500 per annum

Flat 2 - 2 bedroomed, £5,100 per annum

Flat 3 - 1 bedroomed, £4,740 per annum

Flat 4 - 2 bedroomed, £5,400 per annum

 

Total rental income - £39,902 per annum

 

ENERGY PERFORMANCE CERTIFICATE

As the property is listed an Energy Performance Certificate is not required.

VAT

Payable, if applicable, at the prevailing rate.