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Office for sale

Bampton Street, Tiverton, Devon, EX16

£9,000

Property Description

Full description

Tenure: Leasehold

LOCATION
The market town of Tiverton has a population of approximately 17,500 inhabitants and is the largest in Mid Devon offering a host of facilities including local hospital, supermarket and being the centre for the Mid Devon District Council. Within the town there is also a popular college, and is within easy striking distance of Junction 27 of the M5 motorway where there is also located Tiverton Parkway railway station, giving a direct train link to London. The town offers a host of local and regional shops and is a popular centre within commuting distance of Exeter to the South West and Taunton to the North.

THE PREMISES
The subject premises comprise a ground floor lock up unit formerly utilised by Tiverton Gazette as their town centre newspaper offices and prior to this the premises were used as Webbers Estate Agency branch. This agency branch practice ceased trading in June 2008. The premises most recently operated as St Loyes Foundation Independence at work. The premises are now available with vacant possession and considered ideal for a variety of trades being in the ever popular Bampton Street, close to the town centre car park and Pannier Market.

The premises offer approximately 800 sq ft of retail space fully refurbished and arranged as a main office with 3 inner office/interview rooms, staff shower, kitchenette and wc.

AGENTS NOTE
To comply with the Estate Agency Act it should be noted that Webbers Commercial are acting on behalf of Webbers Property Services who are the head tenants of the property and we are assigning the existing lease.

TENURE
The premises are held on the balance of a 12 year lease from 22nd January 2007 at a current rental of £17,500 per annum for the first two years, for the third and fourth years of the term the rent increases to £19,550. The rent review dates are thereafter January 2011 and January 2015. A full copy of the lease is available at Webbers Commercial offices in Barnstaple. An incoming tenant will need to supply the usual bank and trade references for landlord's approval subject to their consent.

Each party to bear their own legal costs in this transaction.

INCENTIVES
First years asking rent will be £12,000 per annum, and the rent will be stepped higher thereafter. Full details upon request.

The accommodation briefly comprises:


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