51.019881831971, -4.2055397173355
Call 01237 424053 for more information
Download Details Print Ask A QuestionTown Centre Commercial Property – Currently Configured as Ground Floor Shop and 4 Office Suites - Income Producing – Income Producing
- Within Town Centre office location close to quayside
- Situated next to Wetherspoons public house
- Currently configured as ground floor shop, producing £6,000 pa, 1 ground floor office suite, 3 upper floor office suites with 2 currently let producing £7,200 pa
- Total income when fully let £20,400 pa
- Shop and each office suite currently eligible for 100% small business rates relief
- Potential for owner occupier and / or investment purposes as well as potential development of upper floors to residential, subject to PP
THE ACCOMMODATION(comprises)
GROUND FLOOR
SHOP UNIT
275 sq.ft (26 sq.m) Single fronted, carpet, false ceiling with recessed lighting, door leading to rear hallway
OFFICE SUITE 1
Office 99 sq.ft (9 sq.m) 10`9 x 9`3 (3.25 m x 2.80 m) Carpet, false ceiling, recessed strip lighting, down lighters, electric heating, access to former strong room currently used for storage
Office 139 sq.ft (13 sq.m) 22`0 x 6`4 (6.70 m x 1.95 m) Carpet, false ceiling, recessed strip lighting, sky lights, electric heating
SHARED KITCHEN
SHARED TOILET
FIRST FLOOR
Landing
OFFICE SUITE 2 REAR
Reception Office 89 sq.ft (8 sq.m) 12`7 x 7`1 (3.85 m x 2.15 m) Electric heating, carpet
Main Office 165 sq.ft (15 sq.m) 13`0 x 12`8 (3.95 m x 3.85 m) Electric heating, carpet
SHARED TOILET
OFFICE SUITE 3 FRONT
Office 90 sq.ft (8 sq.m) Electric heating, carpet
Main Office 290 sq.;ft (27 sq.m) Electric heating, carpet
SECOND FLOOR
OFFICE SUITE 4
Office 76 sq.ft (7 sq.m) Carpet
Main Office 217 sq.;ft (20 sq.m) Carpet, false ceiling with recessed lighting
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:
- 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.
- 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.
- 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.
- 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
- All measurements are approximate.
- 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.
- 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 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 JD Wetherspoons public house. Bridgeland Street adjoins the main pedestrian thoroughfare known as Mill Street as well as The Quay.
THE PROPERTY AND CONSTRUCTION
Being of three storey construction under a pitched slate roof there are latter single storey extensions to the rear which have recently replaced fibreglass roofs. The ground floor provides a single fronted shop unit of 275 sq.ft (26 sq.m) which is currently let, with 2 further offices, 238 sq.ft (22 sq.m) which are vacant. There are 2 additional office suites on the first floor, one of which is currently let, with a further second floor suite which is also let. The upper floors provide office space of 924 sq.ft (86 sq.m). The Tenant’s have use of a shared first floor toilet as well as ground floor toilets and kitchen. During our client’s ownership routine maintenance has been undertaken to the property to keep the property in good condition. Electricity is currently split between the various occupiers with the Landlord paying the water and building insurance costs. The property is Grade II Listed.
THE PROPOSAL
Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies, although notice can be given to the Tenants thus, vacant possession is achievable as well if desired:-
Ground Floor
Shop – Let on a years tenancy at £6,000 pa
Office Suite – Vacant quoting £3,600 pa
First Floor
Front suite – Let for £3,600 pa
Rear suite – Vacant quoting £3,600 pa
Second Floor
Office Suite – Let for £3,600 pa
Current income £13,200 pa, income when fully let £20,400 pa.
RATES
We are verbally advised by the Local Rating Authority that the premises are currently assessed as 5 different assessments with Rateable Values (2023 Listing) from £2,050 to £3,900. As from April 2017 properties with a Rateable Value of £12,000 or less will be eligible to apply for 100% business rates relief. Occupiers are advised to make their own enquiries of Torridge District Council.
VAT
Payable, if applicable, at the prevailing rate.
ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.