CHURCH STREET, ILFRACOMBE, NORTH DEVON, EX34 8HA
Status:
Available
Price:
Offers invited in the region of £225,000
Reference Number:
1561

FULLY LET COMMERCIAL INVESTMENT COMPRISING OF 3 RETAIL / OFFICE UNITS

* Prominent trading location close to Co Operative Supermarket
* Total rental income of £15,600 per annum
* 5 and 10 year leases in place
* One unit having been a travel agents for over 20 years
* Sold with the benefit of the existing tenancies - Businesses unaffected
 
LOCATION
Ilfracombe is a popular resort situated on the North Devon Coast, with an estimated population in the region of 10,500.  The sub regional centre of Barnstaple lies approximately 13 miles to the south.

THE SITUATION
The premises are within Church Street which connects to the Town's High Street with retailers close by include Co Operative Supermarket

THE PROPERTY AND CONSTRUCTION
The ground floor of the property consists of 3 shop units, 1 x double fronted and 2 x single fronted with brick facing above covered by a pitched slate roof, which was replaced approximately 15 years ago.  The rear of the property has rendered elevations with 2 x maisonettes located at lower ground, first and second floors.  Both maisonettes have been sold on a long Leasehold basis and are currently owner occupied.  There are two car parking spaces to the rear of the property.

THE PROPOSAL
Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies.  It should be noted that the Freehold interest also includes 2 x maisonettes which have both been sold on a long Leasehold basis, each of which having an obligation towards maintenance of the building.

THE TENANCIES
3 Church Street - Let for £6,700 per annum on a 5 year lease from March 2015.  The premises have been let as a Travel Agents for over 20 years.
4 - 5 Church Street - Let for £8,900 per annum on a 10 year lease from February 2017.  The premises are let to an insurance brokers who currently sub let 5 Church Street.

Total Income - £15,600 per annum

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)

3 CHURCH STREET
Double fronted unit, 309 sq.ft (29 sq.m), false ceiling, down lighters, air conditioning, Staff room, kitchenette and toilet

Basement store

4 CHURCH STREET
Single fronted unit, 356 sq.ft (33 sq.m) Strip lighting, laminate flooring, electric heating, Staff room and kitchenette, toilet, rear entrance

Basement store

5 CHURCH STREET
Single fronted unit, 338 sq.ft (31 sq.m) Strip lighting, carpeted flooring, air conditioning, inter communicating door to 4 Church Street

OUTSIDE
To the rear of the property are two car parking spaces, one utilised by the tenants of 3 Church Street the other by one of the maisonettes.

Commercial Funding

Having been in the trade for many years we have established good connections in the finance sector.  Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike.  Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds.  Please call for more information.


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 joint sole selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
TEL: (01237) 424053 / 07868 846357  E-MAIL: sales@jd-commercial.co.uk