Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
Barnstaple is a popular North Devon town with a population of 28,000 which is swelled by the influx of tourists during the summer months. The property is prominently located in the heart of the town centre directly opposite Barnstaple Museum and Long Bridge. The surrounding area provides a busy leisure and tourist location with a number of bars, restaurants and hotels in the immediate vicinity.
Freehold.
Barnstaple is a popular North Devon town with a population of 28,000 which is swelled by the influx of tourists during the summer months. The property is prominently located in the heart of the town centre directly opposite Barnstaple Museum and Long Bridge. The surrounding area provides a busy leisure and tourist location with a number of bars, restaurants and hotels in the immediate vicinity.
Freehold.
The property comprises an attractive four storey building providing a ground floor restaurant together with four flats on the upper floors.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises an attractive four storey building providing a ground floor restaurant together with four flats on the upper floors.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas Approx sq m |
Floor Areas Approx sq ft |
Tenant | Term | Rent p.a.x. | Rent Review |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 119.61 |
(1,287) |
SCOFFS ORIGINAL LIMITED with a personal guarantee t/a Scoffs Fish and Chips |
21 years from 01/03/2016 until 27/02/2037 |
£25,000 |
01/03/2026 and 5 yearly |
| First (Flat 3) | 3 bedroom flat | 93.00 |
(1,001) |
INDIVIDUALS | AST from 28/08/2021 until 27/02/2022 (currently holding over) |
£8,400 |
|
| First/Second (Flat 4) | 1 bedroom flat | 56.00 |
(602) |
INDIVIDUAL | AST from 01/01/2013 until 30/06/2013 (currently holding over) |
£6,000 |
|
| Second/Third (Flat 1) | 2 bedroom flat | 94.00 |
(1,011) |
INDIVIDUAL | AST from 01/04/2018 until 30/09/2018 (currently holding over) |
£7,740 |
|
| Second (Flat 2) | 2 bedroom flat | 97.00 |
(1,044) |
INDIVIDUAL | AST from 15/01/2021 until 14/07/2021 (currently holding over) |
£8,700 |
|
| Total | 459.61 |
(4,945) (1)(2) |
£55,840 (3) |
(1) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(2) The residential floor areas stated above are those published within the EPC's.
(3) The residential rents stated above have been annualised.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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The guide is an indication of the minimum price at which the seller may be prepared to sell at the date the guide is published. If a guide range is provided, it represents a price bracket within which the seller may consider selling. The guide may be subject to change up to the time of the auction.
The guide does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price.
The reserve is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell. The reserve may be subject to change up to the time of the auction.
This is the price at which the property is sold.
Guide yield – The rent reserved divided by the guide.
Sale price yield – The rent reserved divided by the sale price plus standard purchaser’s costs including stamp duty.
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