This property is no longer on the market
Shop
Property description & features
- Tenure: Freehold
- For sale by online auction auction end date friday 9 th of june 2023 at 12 noon
AUCTION ENDS FRIDAY 9TH OF JUNE 2023 AT 12 NOON.
LOCATION
The premises occupy a busy town centre trading position located at the southern end of Boutport Street, close to the junction with the main High Street. The premises adjoin Youing's toy shop on one side and hairdressers on the other and are close to the Royal and Fortescue Hotel. The premises have a long frontage on to Boutport Street and the benefit of a separate staircase to the upper floors. Barnstaple is North Devon's regional centre with a host of shopping facilities and supermarkets and a regional railway station leading to Exeter and the main network. The town has a population in excess of 27,500 inhabitants and serves the local rural community with the hinterland having a population of over 127,000 inhabitants.
THE PREMISES
The premises comprise of a ground floor shop of approximate measurements 29'8" maximum depth x 23'2" maximum width. The upper floors are accessed from a side entrance hall with a communal staircase to the first floor and a self-contained office. To the second floor there is a two bedroom self-contained spacious apartment and to the top floor, two spacious rooms considered for further conversion to an apartment, subject to obtaining the usual planning consents.
TENURE
The ground floor shop is now let at a rental of £14,000 per annum on the basis of a lease, details of which are to be made available to seriously interested parties. The first floor offices are vacant however the passing rent previously achieved was around £3,000 per annum. The second floor self-contained 2 bedroom apartment is currently vacant but has previously been let for a rental in the region of £595 per calendar month. The two top floor rooms are currently vacant but could easily be converted to a 1 or 2 bedroom flat, subject to usual building regulations and planning consents to provide a further supplementary income. This is a mixed residential and commercial investment opportunity with a possibility of providing an income. If all floors are fully let subject to all necessary consents and conversions the income would be in the region of £24,000 per annum.
SELLERS SOLICITORS
Brewer Harding & Rowe Solicitors
Tim Nock
29 Bridgeland Street
Bideford
North Devon
EX39 2PT
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TRADITIONAL ONLINE AUCTION INFORMATION
Please note: this property is for sale by traditional online auction. This means that exchange will occur when the online timer reaches zero (provided the seller's reserve price has been met or exceeded). The winning buyer will be legally obliged to purchase the property at this price.
PRICING INFORMATION
The guide price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the guide price amount. Webbers and Bamboo Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail. Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
BUYERS PREMIUM & OTHER CHARGES
The winning buyer is charged a sum of £5,000. From this a buyers fee of £3,600 (including VAT) is retained by Webbers/Bamboo Auctions as a contribution towards online platform costs and £1,400 is payable towards the purchase price. On completion the Buyer will pay the sum of £512.28 to the Seller’s solicitors in reimbursement of search fees.
Rooms
GROUND FLOOR
SHOP
9.04m (12.1m) maximum depth x 7.06m (7.06m) maximum width - First floor kitchen/ office/ stock room, stainless steel sink unit and cloakroom.
FIRST FLOOR
OFFICE SUITE
KITCHEN 2m x 1.98m
STAFF CLOAKROOM
OFFICE ONE 4.34m x 4.98m
OFFICE TWO 3.58m x 3.91m
OFFICE THREE 2.5m x 4.42m
STAIRS TO:
SECOND FLOOR
SELF-CONTAINED FLAT
LOUNGE 3.86m x 4.14m
BEDROOM ONE 4.57m x 5m
BEDROOM TWO 2.97m x 3.15m
KITCHEN 4.8m x 2.92m
UTILITY ROOM 2.62m x 4.67m
SHOWER ROOM
TOP FLOOR
STORE ROOM ONE 4.72m x 7.65m
STORE ROOM TWO 4.72m x 2.67m
Entrance to roof space.
AGENT'S NOTES
The premises will be offered for sale with the ground floor shop, first floor offices and flat above. We understand that the property is in a conservation area.
SERVICES
Mains electricity, water and drainage.
RATEABLE VALUE
Shop - £10,000
Offices - £4,150 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.
VIEWING
Strictly by appointment through the selling agent.
VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.
WANT TO KNOW MORE?
We recognise that buying a property is a big commitment and, therefore, recommend that you visit the local authority website (contact the branch for details) and the following websites for more helpful information about the property and local area before proceeding.
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Property reference COM230075. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Webbers - Barnstaple.
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Energy Performance data and Internal floor area
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