Investment / Development / Retail Premises - Bideford

Sale Agreed STC
Ref
1838
£224,950
(OIRO)
or
£16,500 (PA)

51.017777017491, -4.2052031056808

Call 01237 424053 for more information

Download Details Print Ask A Question
Share this property

Prime High Street Retail Premises - Currently Let to Superdrug with Development Potential

  • Prime retail investment with development potential of upper floors, subject to PP
  • Highly prominent return frontage
  • Close to Costa Coffee, Specsavers, Boots and Lloyds Bank
  • Ground floor GIA 1,118 sq.ft (104 sq.m)
  • Currently let to Superdrug, business unaffected

ACCOMMODATION

Being three storey construction plus accessible attic the premises have a pitched slate roof, ground floor return frontage with recently part re-rendered and painted elevations above.  It is thought the upper floors could be developed into residential accommodation, subject to PP.  The premises was formerly 2 properties, one fronting the High Street the other fronting Allhalland Street.

The premises benefits from the following approximate dimensions and areas:-

GROUND FLOOR

Retail premises with return frontage, tiled floor, strip lighting GIA 1,118 sq.ft (104 sq.m)

FIRST FLOOR

GIA 1,086 sq.ft (101 sq.m) Currently configured as staff room, 2 x toilets and stockroom

SECOND FLOOR

GIA 1,081 sq.ft (100 sq.m) Stockroom with ladder access to attic

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 a resident population of around 32,000 including nearby villages, Bideford is the second largest town in North Devon, and the town has a reputation as a pleasant place to live, work and visit. In recent years Bideford has benefited from lots of investment and development, including the ongoing Atlantic Park retail area and improvements to the historic town centre and quayside, and the current Local Plan allows for a further 4,000 homes plus leisure facilities. Bideford is within 3 miles of some well-known North Devon locations such as Appledore, Westward Ho!, Instow and Northam and only 9 miles from the area’s commercial centre of Barnstaple. It is also within a half-hour’s drive of Exmoor National Park, the beaches around Woolacombe, Croyde and Saunton, and the Devon-Cornwall border.

THE SITUATION

The premises are located in a prime High Street trading location with an extensive return frontage onto Allhalland Street.  Occupiers close-by include Costa, Specsaves, Lloyds Bank, Boots and New Look.  The Towns historic quayside area is also close by which is where much of Town’s car parking is also located.

THE PROPOSAL

Our clients are inviting offers for the Freehold interest with the property being sold with the benefit of the existing tenancy:

5 year lease from July 2020 at a rent of £8,000 per annum, with both a Landlords and Tenants rolling break clause giving 3 months notice.  The premises has previous been let at a higher rental during the Tenants 30 year tenure but the above lease was agreed to give the Landlord potential development flexibility.

Alternatively, consideration will be given to the creation of a new commercial lease.  The property is Grade II Listed.

ENERGY PERFORMANCE CERTIFICATE

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

VAT

Payable, if applicable, at the prevailing rate.

LEGAL COSTS

Each party to bear their own legal costs, if applicable.

VIEWING

Strictly by prior appointment through the sole agents, JD Commercial.