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Shop for sale

Market Street, Barnstaple, Devon, EX31


Property Description

Full description

Tenure: Leasehold

The premises are located in a parade of shops in the centre of town linking Joy Street and the Pannier Market, to the rear of Banbury's High Street store making this a busy pedestrian thoroughfare, therefore ideal for passing trade. Operators within the parade include catering, hairdressers, nail bars and charity shops.

Barnstaple is North Devon's main commercial centre having a population in excess of 35,000 inhabitants, boosted throughout the year with the influx of tourists and serving a rural hinterland with a population in excess of 130,000 inhabitants. There are excellent road and rail links via the North Devon Link Road (A361) to Junction 27 of the M5 Motorway and via the Tarka Line to Exeter and the main railway network.

The property comprises of a ground floor lock up shop offering some 469 sq ft of retail space plus a further 202 sq ft of stock room and cloakroom. The premises have been used in the past as a lighting/electrical retailer and most recently as a ladies lingerie shop. It is ideally placed to take full advantage of passing trade and would suit a variety of operators.

The premises are offered on the basis of a brand new lease with a commencing asking rental of £8,000 per annum exclusive on full repairing and insuring terms with the tenant paying a contribution towards insurance and repairs on the entire block. This is one of seven units in Market Parade owned by the same landlord. An incoming tenant will need to provide the usual trade and bank references for landlord's approval.

New lease terms available. A 3 year lease, with a tenant break option at 18 months. Commencing rental of £8,000 per annum in Year 1, rising to £9,000 per annum in Year 2.

The accommodation briefly comprises:

We recognise that buying a property is a big commitment and, therefore, recommend that you visit the local authority website (contact the branch for details) and the following websites for more helpful information about the property and local area before proceeding.

7.7m x 8.66m
Being L-shaped. In all offering approximately 469 sq ft. The premises narrow to the rear to 15'6" (4.72m)

5.33m x 2.64m

Accessed through store room. With low level toilet and wash hand basin.

£12,000 per annum. UBR, as of April 2015, 49.3p 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.

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

Strictly by appointment through the selling agents.

Established over 40 years ago our dedicated specialist Commercial Department deals in the sale and letting of all types of commercial property including Guest Houses, Hotels, Restaurants, Pubs, Holiday Complexes, General Businesses, Post Offices, Retail Businesses of all kinds, Shops, Offices, Investments and Industrial Premises. If this property does not suit visit our web site or call our office on 01271 347888. For out of hours call our mobile number 07967 385228.

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