- Commercial property investment for sale
- A parade of 7 lock-up high street shops - All fully let
- Plus small rear car park
- Rental income £32,996 per annum
- Located in a prime position fronting Ilfracombe High Street
- Ideal easy to manage investment opportunity
- Early viewing essential
Retail Property (High Street) for sale in Devon
Commercial property investment for sale
A parade of 7 lock-up high street shops - All fully let
Plus small rear car park
Rental income £32,996 per annum
Located in a prime position fronting Ilfracombe High Street
Ideal easy to manage investment opportunity
Early viewing essential
LOCATION
Prime High Street location in the popular tourist resort of Ilfracombe is this parade of 7 fully let retail units. Located opposite Morrisons local and Pedlars shop within easy walk of car parks and seafront. The town has a population of about 11,000 inhabitants which is boosted in the busy Summer months with the influx of tourists.
The resort is North Devon's largest tourist centre, offering a host of facilities including beaches, parklands, attractive coastal walks and on the outskirts of town is a popular golf course. The world-renowned artist Damien Hirst has given on loan to the town a statue called 'Verity' which is located on the pier and has attracted many more day visitors to the area. The town has also built a reputation as an arts centre and catering venue and indeed there are now several art galleries in the resort.
THE PROPERTY
Commercial Investment Opportunity. A parade of 7 shops offering a vibrant mix of independent retailers, all fully let to local tenants trading as numerous business outlets including a fashion shop, office, cafe, barbers, sandwich shop and off licence.
HEAD LEASE
Held from the Head Landlord North Devon District Council with the residue of 125 years.
AGENTS NOTE
The flats over are owned separately. The small car park to the rear approached off Springfield Road is included and used by the shop tenants.
RENTAL INCOME
Total annual rental including ground rents and shop rent of £32,996. A schedule of rents and leases is available to seriously interested parties upon request after viewing subject to client approval.
SERVICES
Mains electricity, water and drainage.
VAT
We understand that our client has opted to charge VAT. All interested parties should make their own enquiries of HMRC.
VIEWING
Strictly by appointment through the selling agents.
ENERGY PERFORMANCE CERTIFICATES
122,123,124,127 High Street - all rated C. 125-126 and 128 High Street - rated B.
RATEABLE VALUE
122 High Street - £5,100
123 High Street - £5,400
124 High Street - £5,400
125 -126 High Street - £10,250
127 High Street - £5,300
128 High Street - £5,500
UBR, as of April 2023, 47.9p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure. Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.
LEGAL ADVICE
We strongly recommend that a buyer takes independent legal advice and instructs solicitors to act on their behalf. Each party bears their own legal costs unless otherwise stated.
PLANNING
It is the responsibility of the proposed buyer to satisfy for themselves independently that their intended use complies with existing planning permission by contacting the local council planning department. The cost of any change of planning use is the buyer's responsibility.
From Webbers High Street offices in Ilfracombe turn left onto the High Street. Proceed across the junction of Northfield Road and the High Street at the traffic lights. Walk a further 500 yards and the premises are on the opposite side of the road.
Property Ref: 55707_COM250045
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