Property for sale
Property description & features
- Tenure: Freehold
- Town Centre Investment Opportunity
- About 6,000 sq ft.
- Ground Floor Let
- First Floor Nightclub Vacant
- 2nd Fllor Large 2 Bed Flat Vacant
- Income was £45,000
These premises are set over 3 floors and are about 6,000 sq feet in total.
THE GROUND FLOOR is let to a quality tenant, year 3 of a 5 year lease, having been in situ for about 12 years - Business not effected.
THE FIRST FLOOR is empty having been in the past a snkker hall and night club.
THE SECOND FLOOR is also vacant being a large flat with 2 double bedrooms, etc.
When last fully let the whole was bringing in a gross rent of about £45,000 per annum.
AUCTION, UNLESS SOLD, date to be announced.
BARNSTAPLE, the ancient borough and administrative centre for North Devon is set towards the mouth of the river Taw and has around 40,000 permamant inhabitants including surrounding villages.
In the summer months, as the area is a popular holiday destination primarily for its beaches with surfing and championshsip golf courses but also the Exmoor National Park and other facilities.
Woolacombe is 14 miles, Bideford 9 miles with a stunning varied coastline stretching between them through Instow to Saunton, Croyde and Putsborough with South Molton some 12 miles to the east and Torrington 14 miles south.
An exceptional opportunity to acquire a freehold commercial premises close to the new town centre redevelopment which is now in a forward state and within a few hundred yards of the town's high street, car park and river Taw quay.
These town centre premises are arranged over three floors next to a busy road junction in the town the ground floor is let on the balance of a five year lease, having been running for over 15 years, with the floor over being vacant and previously used as a night club with a spacious two-bedroom flat on the second floor.
The premises are approximately 6,000 square feet in total. Ground floor about 1700 ft², first-floor around 3350 ft² and second floor around 1000 ft².
Offers are invited for the freehold in the region of £250,000 prior to auction/tender unless sold.
The premises are in close proximity with the Queens Theatre with a wide variety of other facilities JD Wetherspoon's, various pubs clubs and eating houses with the Pannier Market, Barclays Bank, a Cinema, the main bus terminal, a municipal car park and of course the well advanced redevelopment of the town centre.
Ground floor - currently let to Coral bookmakers at £22,500 per annum, currently on a five year lease starting 2022 and having been in situ for 12 years
First-floor - currently a vacant club
.
Second floor - currently a vacant flat with two double bedrooms, kitchen, large living room and bathroom
Floor Plan for identification only - not to scale
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