Property description
Occupying a superb location in the heart of Crediton on the busy High Street is this prominent 660 sq ft shop offering great passing footfall and suitable for a variety of retail purposes. The property has previously been let successfully and presents a good investment opportunity with a POTENTIAL RETURN OF OVER 7.5%.
Occupying a prominent High Street location, a good sized and well-presented shop, within this attractive Grade 2 listed period building, with excellent window frontage. The property is approx. 660 square foot, providing a good sized retail area with storage and kitchen facilities. The property benefits from full gas central and Oak flooring to the main retail / display areas. The shop currently has A1 retail use and would be suitable for a variety of uses and has most recently been used as a photography shop / studio. The property would also make a good investment property and has recently been rented at £7,800 per annum providing a gross yield of 7.8% based on the asking price.
Crediton is a busy market town with a bustling High Street having an attractive mix of small independent traders. The town has a twice monthly farmers market, and strong sense of community. Crediton is located on the A377 linking Exeter with Barnstaple and the North Devon coast, providing a good deal of tourist traffic through the town.
GROUND FLOOR RETAIL SPACE
FRONT SHOP - 15' 11'' x 14' 1'' (4.85m x 4.29m)
Excellent double window frontage, radiators, fitted storage cupboard, strip lighting with diffuser, magnolia walls offering a fresh neutral look, finished off by oak flooring.
Two steps to:
UPPER SHOP - 17' 2'' x 12' 10'' (5.23m x 3.91m)
large open shop with a radiator, strip lighting with diffuser, steps down to the Basement and a door to the rear of the property.
A further step to:
BACK AREA - 8' 2'' x 7' 8'' (2.49m x 2.34m)
a more private room at the rear with a large sash window, pendant ceiling light, radiator, built in storage shelves and a cupboard housing the boiler.
BASEMENT / KITCHEN - 13' 5'' x 12' 8'' (4.09m x 3.86m)
Fitted unit with cupboard space below, ceiling spot light fittings, radiator, rolled edge laminated working surface, inset stainless steel sink with side drainer. Space for fridge.
CLOAKROOM
Outside cloakroom with white suite comprising low level WC, wall mounted wash hand basin and a radiator.
OUTSIDE
a small concrete courtyard at the rear with a fenced surround.
PLANNING
The property currently has A1 (Retail) use. Interested parties should make their own enquiries to the local authority regarding change of use applications.
BUSINESS RATES
The Valuation Office currently lists the Rateable Value as £7,700. Based on the 2016/2017 multipliers set by the Department for Communities and Local Government the Rates Payable are £3,726.80.
Subject to eligibility, small business rates relief may apply to this property. Contact Mid Devon District Council for further information.
SERVICES
Mains Water, Drainage and Electricity are connected to the Premises.
VIEWINGS
Strictly by appointment with the sole agents, Devon Sales and Lettings Limited on 01363 773757.
LOCAL AUTHORITY
Mid Devon District Council, Phoenix House, Phoenix Lane, Tiverton, EX16 6PP.
EPC RATING
To Be Confirmed. Please note this property is owned by a Director of Devon Sales and Lettings Limited.