LOCATION
With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.
THE SITUATION
The property is located on the part of Boutport Street known as Mermaid Walk and enjoys good pedestrian and vehicle visibility, as well as being a through road for pedestrians and stopping point for many bus services during the daytime and evening. Mermaid Walk adjoins Barnstaple’s High Street which contains the usual mix of national and independent retailers.
THE PROPERTY AND CONSTRUCTION
The property is of three storey construction with double fronted ground floor shop frontage and brickwork elevations above. The ground floor provides 465 sq.ft (43 sq.m) of retail floor area plus rear covered yard and toilet facilities. There is a self-contained entrance to the residential parts by way of a separate ground floor entrance door (with intercom system) leading to a carpeted hallway with emergency lighting. Both flats have gas central heating and are configured as 1 bedroom with kitchen / diner, lounge and bathroom.
THE PROPOSAL
Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies.
Shop – Let for £10,200 pa, 10 year lease term from July 2023, rent review and Tenant’s break clause in 2028, held on an internal repairing and insuring lease. The premises has traded as a newsagents for over 30 years.
Flat 1 - £7,500 pa (currently vacate and soon to be marketed)
Flat 2 - £7,500 pa
Total rent roll £25,200 pa
ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.
VAT
Payable, if applicable, at the prevailing rate.
THE ACCOMMODATION (comprises)
GROUND FLOOR
Double fronted SHOP UNIT
GIA 465 sq.ft (43 sq.m) Tiled floor, false ceiling, rear covered yard, toilet facilities
FIRST FLOOR
FLAT 1
Kitchen / diner with eye and base units, worktops, lounge with carpet and radiator heating, bedroom with carpet and radiator heating, 3-piece shower room
SECOND FLOOR
FLAT 2
Kitchen / diner with eye and base units, worktops, lounge with carpet and radiator heating, bedroom with carpet and radiator heating, 3-piece bathroom
IMPORTANT NOTICE
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. 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.
2. 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.
3. 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.
4. 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
1. All measurements are approximate.
2. 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.
3. 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
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