Barnstaple High Street Investment

There are plans drawn up to convert the upper floors to residential subject to planning permission.

TENURE
We are selling the freehold interest subject to a short term lease.

In 2023 Webbers Commercial let the premises as a second hand furniture store to a local retailer at a stepped rent.

The internal repairing and insuring lease is dated from the 27th April 2023 for a period of three years with a tenants break clause after 18 months.

Rent for year one £10,000 per annum, year two for £15,000 per annum and year three for £20,000 per annum.

A copy of the existing lease is available upon request to seriously interested parties.

The business is operating and trade is unaffected by this sale.

DEVELOPMENT POTENTIAL
There are plans available to convert part of the rear of the property to a 2 bedroom house and the upper floors to 2 residential 2 bedroom apartments.

Plans available for inspection with Webbers Commercial.

Planning Permission for Rear Cottage Ref Number 74791 dated 25 May 2022. Planning Permission for Upper Floors 2 flats Ref Number 74819 dated 26 May 2022. Planning Authority North Devon District Council.

VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.

SERVICES
All mains connected.

BUSINESS RATES
£33,000 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.

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.