Commercial and Residential Investment - Business Unaffected - Barnstaple

Ref
1793
£474,950
(OIRO)
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple
Commercial Property for sale Barnstaple

51.078838939887, -4.0588396852501

Call 01237 424053 for more information

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Commercial and Residential High street Investment - Highly Prominent Location

  • Occupying one of the best pitches in Town Centre, on the corner of the High Street and Boutport Street
  • 2 retail shop units and 4 bedroomed maisonette
  • Tenant having been in occupation for 7 years with new 5 year term from May 2020, business unaffected
  • Tenant retailing off both ground and first floor
  • Total rent roll £39,800 per annum
  • 4 bedroomed maisonette over two floors with central heating

THE ACCOMMODATION (comprises)

 

108 HIGH STREET – GROUND FLOOR

Double fronted shop unit with a ground floor GIA 695 sq.ft (65 sq.m)

 

109 HIGH STREET – GROUND FLOOR

Return fronted shop unit with a ground floor GIA 883 sq.ft (82 sq.m), ‘island showcase’ display.

FIRST FLOOR

Configured as 3 retail areas and 2 stores GIA 859 sq.ft (80 sq.m)

SECOND FLOOR
Configured as assorted storage and offices GIA 874 s.qft ( 81 sq.m)

THIRD FLOOR

464 sq.ft (44 sq.m)

 

MAISONETTE

Ground floor entrance from Maiden Street to FIRST FLOOR

LOUNGE with radiator heating

KITCHEN with boiler, eye and base units, worktops, fitted oven and gas hob

BEDROOM 1 with radiator heating

BEDROOM 2 with radiator heating

 

SECOND FLOOR

BEDROOM 3

BEDROOM 4 with Velux window

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

With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.

THE SITUATION

The subject property is situated on the entrance to the Town’s High Street giving it considerable frontage along the High Street with return frontage onto Boutport Street.  There are assorted retail, office and leisure users in the immediate vicinity including Tesco Express, Halifax and HSBC as well as many strong independent retailers.

THE PROPERTY AND CONSTRUCTION

The Grade II Listed properties consist of two retail units that are occupied by one retailer.  With both premises having prominent shop fronts, one being double fronted the other having an extensive return frontage.  108 High Street consists of ground floor retail unit whilst 109 High Street offers retail areas on both ground and first floors with further storage on second and third floors.  There is a two storey maisonette accessed from the rear off Maiden Street offering centrally heated accommodation consisting of lounge, kitchen and 4 bedrooms.

THE PROPOSAL

Our clients are inviting offers for the Freehold interest of the entire building with the benefit of the existing tenancies.  It should be noted that the Freehold sale includes the long leasehold interest of 18 Maiden Street which connects to the rear of the property but is self contained.

TENANCIES

Shop Units – Both let to the same Tenant, 108 High Street ground floor £12,000 per annum.  109 High Street ground, first and second floors £20,000 per annum.  5 year Law Society leases from May 2021 with no break clauses.

Maisonette – Rent £7,800 per annum from July 2019.

Total rent roll:- £39,800 per annum

ENERGY PERFORMANCE CERTIFICATE

Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.

VAT

If applicable, at the prevailing rate.