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Commercial Property for sale

Joy Street, Barnstaple, Devon, EX31


Property Description

Full description

Tenure: Freehold

In a busy town centre trading position close to the junction of Joy Street and High Street and the main entrance to Green Lanes shopping centre the property is therefore ideally placed for passing trade. Joy Street connects Boutport Street to the main High Street and there are a number of traders within the vicinity including Banburys Department Store, TSB Bank, TK Maxx, Poundland, butchers, hairdressers, gift shops etc.

Barnstaple is recognised as North Devon's regional centre having a population in excess of 27,500 inhabitants and serving a rural hinterland with a population in excess of 130,000 inhabitants.

The premises comprise of a mid-terrace commercial property with accommodation on the ground floor and two floors over. The ground floor offers a retail area of approximately 640 sq ft with the benefit of a first floor stock room and ground floor cloak room and small staff kitchenette. The upper floors approached from a separate ground floor lobby and staircase with hallway provides to the first floor a two bedroom self-contained apartment and to the second floor a one bedroom self-contained apartment. In addition there is a further second floor store to the rear which has the potential to convert to a self-contained bed sitting room, subject to planning consent.

The ground floor is currently let to the RSPCA charity on a one month rolling lease at a rental of £12,000 pa.

The first floor is let on a shorthold tenancy agreement and has been let at a rent of £550 pcm.

The second floor was vacant at the time of our inspection (December 2015) but has been let in the past at a rental of £495 pcm.

This property is available as a mixed residential/commercial investment in a busy trading position or could be acquired by an owner occupier to establish a new business. In the past it has been used as a glassware gift shop and has the benefit of attractive window display facilities with a frontage of approximately 16'.

Please note a flying freehold exists over the jewellery shop at a peppercorn rent.

The accommodation briefly comprises:

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