Investment Property - Bideford

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£239,950
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Investment Property in Bideford
Investment Property in Bideford
Investment Property in Bideford
Investment Property in Bideford

51.019817, -4.205556

Call 01237 424053 for more information

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Mixed Commercial and Residential Investment

  • Town Centre location close to Quayside
  • Single fronted retail / office unit with tenant having been in occupation for circa 20 years
  • 3 residential flats above with self contained entrance
  • Total rental income £17,000 per annum
  • Showing a rental return of 7%

The Accommodation  

Shop / Office Unit

Single fronted shop unit onto Bridgeland Street, shop depth 22`6 (6.85m) x width 12'3 (3.75m) Carpet, electric heating, door to:-

Meeting Room 

13`7 x 12`1 (4.15m x 3.70m), adjoining storeroom

Door to courtyard

Toilet

Low level w.c., wash hand basin, hot water heater

Kitchen

Eye and base units, worktops, stainless steel single drainer sink

Outside

There is a courtyard and rear garden area accessible from the ground floor shop unit.

Residential Accommodation 

Accessed from a self contained entrance fronting Bridgeland Street, hallway leading to:-

First Floor 

FLAT 1 - Bedroom, lounge 19`2 x 16`3 (5.85m x 4.95m), kitchen, four piece bathroom - £400 pcm

Second Floor

FLAT 2 - Lounge / bedroom, kitchen / diner, 3 piece shower room - £300 pcm

FLAT 3 - Lounge / bedroom, kitchen / diner, 3 piece shower room - £300 pcm

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: sales@jd-commercial.co.uk

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 within Bridgeland Street which is considered to be a preferred location for professional office occupiers as well as retailers, it is also the location for the new JD Wetherspoons public house.  Bridgeland Street adjoins the main pedestrian thoroughfare known as Mill Street as well as The Quay.

The Property and Construction 

The main building, which fronts Bridgeland Street, is of three storey construction under a pitched slate roof, with a single fronted shop unit at ground floor level.  To the rear of the main building is a latter mono pitched extension which provides additional ground floor accommodation for the shop unit as well as first and second floor accommodation.  The first and second floors are currently configured as three flats, one on the first floor and two on the second floor.  During 2006 the property was extensively refurbished with the assistance of Heritage Lottery and Housing Grant funding.  To the rear of the property is a courtyard and garden area, both of which are accessed from the rear of the ground floor shop unit.

The Proposal 

Our clients are inviting offers for the Freehold interest with the property being sold with the benefit of the existing tenancies.  The ground floor is let to Home Start Torridge at a rent of £5,000 per annum, who have been in occupation for approximately 20 years and are currently "holding over" on their lease.  The three flats are let on 6 month assured shorthold tenancy agreements, with two of the flats producing £300 per month each and the remaining flat producing £400 per month.  Total rent roll of £17,000 per annum

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.