Investment Properties for sale in Combe Martin

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High Specification Mixed Commercial/Residential Property with Sea Views

Combe Martin, Devon, England

  • Freehold Price: £1,165,000
Seller Reference: COM210018 - Granta
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Business Description
 
 
 
 
 
 
 
 
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Seller Reference: COM210018 - Granta
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Business Description
View this property as quickly as you can to appreciate the size and scope of the apartments and quality of this fine premises.
Granta & Rockdene House are very well cared for Edwardian properties that has been maintained to a high standard and provides a substantial income from the rent of 7 apartments, 2 shops and a launderette.
The 4 apartments in the front all have stunning sea views.
The 3 apartments to the rear each overlook the rear garden, one also has side views to the sea.
The apartments have gas radiator central heating and are all well-presented.
The two lock-up shops on the ground floor have been let on 6 month rental agreements, one to a local community charity and the other to a couple operating a retail business.
The third commercial letting to the eastern side on the ground floor has been let as a launderette.
There is also a workshop/store used by the current owner which offers potential for conversion/expansion.

INVESTMENT
The apartments are let on assured short-hold tenancy agreements.
The two shops have established tenants one since 2005 and one since 2018 each let on a 5 year agreement with break clause either way and 6 months’ notice period. The launderette is subject to a 5 year lease agreement with a 3 months’ notice period.

INCOME
The gross income for 2020 is £62,037 with scope to increase.
A schedule of rents is available after inspection and subject to client approval.
This split rental figure from residential letting is £45,843 and £16,194 from the commercial units.
Tenure:
Freehold
Is accommodation included?:
Yes
Location Details:
In a sought after tourist location overlooking the Beach and Bay in the pretty seaside village of Combe Martin on North Devon's majestic coastline. The village is located some 5 miles East of Ilfracombe and is often referred to as the gateway to Exmoor National Park.
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