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PRIME FREEHOLD HIGH STREET INVESTMENT FOR SALE

 

86 & 86A HIGH STREET & 21 CROSS STREET

BARNSTAPLE, NORTH DEVON, EX31 1BD

 

* Freehold Building/Investment * High Street location * 3 commercial letting investments *

* Refurbished over the last 12 months * Projected rental income c. £50,000 per annum *

 

PRICE: OIRO £600,000 FREEHOLD

 

THE SITUATION

 

The premises are situated on Barnstaple High Street at its junction with Cross Street and on the edge of prime.

  

THE ACCOMMODATION

 

2 ground floor shop units with separately accessed office accommodation over 3 floors above:

86 High Street comprises c. 640 sq ft fitted retail sales plus c.500 sq ft storage.

86A High Street comprises c. 250 sq ft retail sales plus c.300 sq ft storage.

21 Cross Street comprises c. 2000 sq ft of offices over 1st & 2nd floors with c. 500 sq ft storage on the 3rd floor.

The building was comprehensively refurbished during the last 12 months to include re-wiring and fire alarm system.

 

RENT SCHEDULE

 

UNIT

LEASE AND DATE

RENT p.a.x

TENANT

86 High Street

10 years. 5 year break.

6th November 2015

£20,000 (£24,000 from year 4)

JAMES BISHOP

86A High Street

10 years. 5 year break & review.

23rd September 2016

£15,000

TARIA RUSSELL

21 Cross Street

10 years.

1st December 2017

£15,000

(£12,000 year 1)

Jane Morrow

 

THE PROPOSAL

 

Our client is inviting offers for the freehold interest based on OIRO £600,000.

 

LEGAL COSTS

 

Each party to be responsible for their own legal costs incurred in the transaction. 

OIRO £600,000

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