0 Bed Retail Property (high Street) For Sale

LOCATION

The premises are located on Market Street just North of the Co-op supermarket in a popular edge of town centre location, which includes a number of national and local shops and businesses. There is short stay on street parking close by.



DESCRIPTION

The premises comprise two self contained ground floor shop units of traditional construction with attractive traditional shop fronts, along with a first floor flat which has been sold off on a long leasehold interest.



ACCOMMODATION (All sizes are approximate NIA)

14 - 25.6 sq.m. (275 sq.ft.)

14B - 46.7 sq.m. (503 sq.ft.)



EPC

Energy Performance Certificates

14 Band D - Rating 91 - 14B Band D - Rating 80

Please ask for more information or go to our web site.



SERVICES

The building has mains electricity, water and drainage.



PLANNING

It is understood that the premises have consent for use as shops within Use Class E (which includes former Use Classes A1, A2, A3 & B1). Interested parties are advised to contact West Devon Borough Council on .



TENURE

The premises are offered Freehold subject to the existing tenancies.

14 Market Street is held on a six year lease from 1st February 2023 with a rent review after three years. The current rent is £5,000 per annum. Unit 14B is held on a six year lease from 30th June 2025 with a rent review after three years. The current rent is £7,800 per annum. The first floor flat (13B Market Street) is held on a 125 year lease from 15th January 2001. The rent will be £100 per annum from the 15th January 2026. The two shops are currently held on a separate long leasehold interest to enable them to be held in a pension fund. The leases are all on effective FRI terms.



PRICE

£120,000 reflecting a gross yield of 10.65%.



RATES

Rateable Value - 14 £4,050. LAR

Rateable Value - 14B £5,500. LAR

West Devon Borough Council Business Rates -



VAT

The price will not be subject to VAT



LEGAL COSTS

Each party to bear their own legal costs.



For full details click on "Brochure" below.



For details of all our properties go to simonpowell.co.uk