Investment Consideration:
Rental Income: £5,200 p.a. + Vacant Flat
ERV once fully let: £13,700 p.a. GIY: 9.13%
VAT is NOT applicable to this property
Comprises ground floor shop t/a Digital Service Agency
Includes self-contained 1-bedroom maisonette at first and second floor which is at present vacant
Situated in a central position on Fore Street within the heart of Cullompton, with occupiers nearby including Nisa Local, Coral, Butchers, Public House, Takeaway and Nail Salon, amongst others.
Property Description:
Comprises mid-terrace ground floor shop with self-contained residential flat above. The retail shop is t/a Digital Service Agency, while the residential flat is offered with vacant possession, providing the following accommodation and dimensions:
Shop No.35: 30 sq m (323 sq ft)
Ground Floor: Open plan retail, kitchen, storage, wc
Flat No.35A: 48 sq m (516 sq ft)
First Floor: Lounge, kitchen
Second Floor: 1 Bedroom, bathroom
Tenancy:
The retail shop is at present let to MidDevon Digital Limited (with personal guarantee) for a term of 3 Years from 30th October 2026 at a current rent of £5,200 p.a. and the lease provides full repairing and insuring covenants. Rent review on 30.04.28 linked to RPI. Tenant option to determine on 30.04.28 with min 6 months notice. Deposit held of £1,300.
The residential flat forms part of the freehold, with an existing long lease in place for a term of 99 Years from 8th December 1987. Reversion 2086 with approx. 60 years unexpired.
Location:
Situated in a central position on Fore Street within the heart of Cullompton, the location offers a range of nearby amenities including independent retailers and cafés, together with easy access to nearby bus stops. The property is also well placed for access to the M5 motorway giving access to surrounding areas. Occupiers nearby including Nisa Local, Coral, Butchers, Public House and Nail Salon, amongst others.
