Barnstaple High Street Investment
Overview
Description
Webbers Commercial are acting for the vendors in selling this large retail store.
The shop has an internal frontage of 22 feet which widens to 26 feet and an internal depth of about 80 feet.
In all around 1,939 square feet of retail space.
There is a stock room beyond and to the first floor three further store rooms and staff cloakroom.
The rear ground floor has a pedestrian access over a private car park but there is no parking with the property.
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.
Location Details:
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