Commercial Property for sale

Lee Road, Lynton, Devon, EX35

£595,000

Property Description

Full description

Tenure: Freehold

LOCATION
In a prime tourist trading position almost directly opposite the main town hall in the thriving Exmoor resort of Lynton, which together with its sister resort of Lynmouth is often referred to as the little Switzerland of England.

THE PROPERTY
The premises comprise of a substantial mid-terrace commercial property with two apartments, one on the first and one on the second floor and on the garden level there is a further one bed apartment currently utilized for storage purposes but easily reconfigured to provide owners accommodation. Each flat has independent central heating and the whole property has a fire alarm system. To the rear is a small courtyard garden with pedestrian access from the main car park in the village centre. The property was in fact a former Victorian hotel built by the Jones Brothers later responsible for Lynmouths famous cliff railway. The art gallery was founded by George Gunn in 1893 and has been trading for over a century. Our clients currently let the two apartment but the property will be offered with full vacant possession of the upper floors and the going concern of the ground and lower ground floors providing a lucrative income. All shop fittings are included but with stock to be purchased for an additional sum at valuation.

THE BUSINESS
Our clients operate the business as an art gallery and arts/crafts shop selling a range of paints and artists materials as well as undertaking picture framing and the sale of original art work and prints from artists thorough out the United Kingdom. There is a valuable online website www.gunnsgallery.co.uk which has approximately 6,643 images of art work to choose from. We understand the turnover is approximately £120,000 per annum with a profit margin of approximately 47%. Accounts will be made available to those seriously interested parties who have inspected the property. This is a genuine retirement sale by our client who has been in occupation for some 20 years and operates the business as a single proprietor with part time help if and when required. The opening hours are to suit, during the busy summer months this is 7 days a week and during the winter months occasional weekends. The commercial shop, basement and storage room are also equipped with a burglar alarm.

The accommodation briefly comprising

MAIN GROUND FLOOR 
TRIPLE FRONTED SHOP Internal frontage 9.6m (31'6") Being L Shaped with Maximum Depth 7.92m (26'0") The shop is configured into various sections as follows

MAIN RETAIL AREA 
2.74m x 9.6m
To the right:

FURTHER GALLERY AREA 
2.54m x 7.95m
With access to

REAR INNER GALLERY RETAIL AREA 
5.23m x 3.5m
On the left hand side to the rear

MAIN PROPRIETORS WORK AREA 
4.93m x 3.76m
With intercommunicating access to rear inner gallery area as mentioned above and also access to rear hallway. With door to outside and stairs to lower ground floor.

LOWER GROUND FLOOR 
(Garden Level) A Former apartment now used for storage purposes briefly comprising:

MAIN WORKSHOP 
9.45m x 3.2m

MAIN FRAMING STORAGE AREA 
3.96m x 3.89m

FURTHER STORAGE AREA 
3.94m x 4.01m
(Former kitchen)

FURTHER STORAGE AREA 2 
7.92m x 4.01m
(Formerly a lounge) for Internet sales goods. With door to outside rear enclosed courtyard.

FIRST FLOOR 
Apartment number 2

MAIN LANDING 
With door to

INNER LOBBY 

EN-SUITE CLOAKROOM 

Apartment comprising: 

MAIN LOUNGE 
3.63m x 4.06m
With Radiator

MAIN KITCHEN 
1.85m x 3.78m
Comprehensively equipped.

BATHROOM/WC 
1.85m x 1.93m
With three piece suite and radiator.

MAIN BEDROOM 1 
3.76m x 3.35m
Radiator

FIRST FLOOR GALLERY 
7.75m x 2.84m
Above the shop to the right.

SECOND FLOOR 

APARTMENT 2 
Briefly comprising

LANDING 

SEPERATE CLOAKROOM 

LOUNGE 
4.47m x 3.66m
With radiator.

BEDROOM 1 
3.45m x 4.7m
With radiator.

BATHROOM 
With two piece suite and radiator.

ADDITONAL STORE/BEDROOM 2 
2.97m x 3.35m
With radiator.

KITCHEN/DINER 
3.66m x 3.96m
With sky light and door to

SECOND FLOOR STORAGE ROOM 
3.35m x 6.05m
Above the shop to the right. Used as a stock room. With a sky light. Radiator.

AGENTS NOTE 
Pavement fronting. To the rear far reaching views are enjoyed of the village and the property overlooks the rear main car park. Whilst there is no parking with the property there is ample off street parking available nearby. The current proprietor also rents a garage nearby which could be available with seperate negotiation.

VIEWING 
Strictly by appointment through the selling Agents.

VAT 
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC

RATEABLE VALUE 
Flats - £4,500 per annum. Gallery - £9,600 per annum. UBR, as of April 2014, 48.2p in the £ Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure.

More information from this agent

Nearest station

  • Barnstaple (14.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Webbers Property Services, Barnstaple

39-41 Boutport Street, Barnstaple, North Devon, EX31 1SA

01271 604026 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Barnstaple (14.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Webbers Property Services, Barnstaple

39-41 Boutport Street, Barnstaple, North Devon, EX31 1SA

01271 604026 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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