51.07185240009, -4.047356313353
Call 01237 424053 for more information
Download Details Print Ask A QuestionMixed Commercial and Residential Investment - Comprising Double Fronted Shop and 2 Self Contained Flats - Fully Let
- Prominent road frontage location
- Popular residential suburb close to schooling
- Double fronted shop unit let on three year term from May 2024
- 2 self-contained residential units, 1 x one bedroomed flat and 1 x 1 bedroomed maisonette with 2 living rooms
- Total rental income £20,660 pa
THE ACCOMMODATION (comprises)
Double fronted SHOP UNIT
24`11 x 16`2 (7.60m x 4.90m) GIA 403 sq.ft (37 sq.m) Vinyl flooring, intruder alarm, strip lighting. Rear kitchenette, stockroom and toilet
FLAT 1
First floor, lounge / diner with electric heating, adjoining kitchen with eye and base units, double glazing. Bedroom with electric heating and double glazing. 3-piece shower room with double glazing
FLAT 2
Second floor, lounge / diner with electric heating, adjoining kitchen with eye and base units, double glazing. Bedroom with electric heating and double glazing. 3-piece bathroom with double glazing. Third floor with second lounge, studio, office
OUTSIDE
To the rear of the property is a yard area which also provides rear access to the shop and a self-contained access to the residential parts.
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:
- 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.
- 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.
- 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.
- 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
- All measurements are approximate.
- 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.
- 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
TEL: (01237) 424053 / 07868 846357 E-MAIL: [email protected]
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 subject property is on the main thoroughfare in Newport, a busy residential area on the outskirts of Barnstaple town centre. Newport enjoys a considerable quantity of facilities including Newport Primary School, as well as the Park School Community College. Newport is generally considered to be a favoured residential area of town and is close to the town centre with direct access to both Link Roads and the old Exeter Road.
THE PROPERTY AND CONSTRUCTION
The main building is of four storey construction, including attic room, under a pitched slate roof, with a rear single storey extension which provides additional storage for the shop units as well as self-contained access for the residential parts. The ground floor double fronted lock-up shop unit has a sales area of 403 sq.ft (37 sq.m) plus kitchenette, toilet and rear stockroom as well as rear access. The first floor provides a one bedroomed flat with lounge / diner, adjoining kitchen, bedroom and shower room. Flat 2 is situated on the second and third floors with lounge / diner, adjoining kitchen, bathroom and bedroom on second floor with a useful third floor lounge, workspace, storage room with dual aspect front and rear windows. To the rear of the property is a small yard area and.
THE PROPOSAL
Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies.
Shop – Let for £6,500 pa on a 3 year lease term from May 2024, with a Tenant’s option to break at month 18.
Flat 1 - £6,960 pa
Flat 2 - £7,200 pa
Total rent roll £20,660 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.