Property description
Commercial Freehold Investment with an income of £14400 per annum - 5.2% Return on Investment per year.
LOCATION
Bideford is the administrative centre of the Torridge area and has a static population in the order of 13,000. Barnstaple, the sub-regional centre of North Devon, lies approximately 9 miles to the east, with access along the North Devon Link Road to the M5 at Tiverton. Barnstaple has a static population in the order of 25,000 with a shopping catchment population of 141,000.
THE SITUATION
The premises are situated within Bridgeland Street which is considered to be a preferred location for professional office occupiers as well as retailers. Bridgeland Street adjoins the main pedestrian thoroughfare known as Mill Street as well as The Quay.
THE PROPERTY AND CONSTRUCTION
The main building, which fronts Bridgeland Street, is of 4 storey construction under a pitched slate roof, with a single fronted shop unit at ground floor level and separate entrance to the living area above. The first, second floors and third floors are used as a three bedroom living accommodation. To the rear of the property is a courtyard, outside W.C and storage sheds which are accessed from the rear of the ground floor shop unit.
THE PROPOSAL
Our clients are inviting offers for the Freehold interest with the property being sold with the benefit of the existing lease. The Prince of India currently rent the whole property for £14\‘400 per annum on a full repair lease.
Entrance Hall
Provides access to retail unit or accommodation above
Seating Area - 22\‘ 4\‘\‘ x 13\‘ 9\‘\‘ (6.803m x 4.179m)
Carpeted with electric heater
Customer W.C - 6\‘ 2\‘\‘ x 4\‘ 11\‘\‘ (1.88m x 1.49m)
W.C, hand basin and vinyl flooring
Ground Floor Kitchen - 12\‘ 11\‘\‘ x 17\‘ 5\‘\‘ (3.93m x 5.30m)
Tiled floor with stairs to the storage Room on the first floor. Access to courtyard.
Courtyard and Outside W.C
Concrete Courtyard with a storage area and W.C. Metal steps leading to a outside patio area
Store Room - 6\‘ 11\‘\‘ x 8\‘ 2\‘\‘ (2.12m x 2.48m)
Carpet and various shelf units
1st Floor Landing
Carpeted. Provides access to Lounge and Kitchen Area and 2nd Floor
Kitchen and Lounge Area - 25\‘ 3\‘\‘ x 13\‘ 5\‘\‘ (7.69m x 4.10m)
Kitchen area consists of; vinyl flooring a selection and floor and wall mounted cupboards. Built in hob, oven and extractor and a stainless steel sink and drainer. Window to rear elevationThe Lounge area consists of carpeted floor, radiators and a bay window to front elevation
Bathroom - 6\‘ 11\‘\‘ x 4\‘ 6\‘\‘ (2.11m x 1.37m)
3 piece bathroom set and varnished floorboards
2nd Floor Hallway
Carpeted. Gas boiler in airing cupboard. Provides access to Master Bedroom and 2nd Bedroom. Stairs to Bedroom 3
Bedroom 2 - 12\‘ 4\‘\‘ x 8\‘ 6\‘\‘ (3.76m x 2.59m)
Carpetted with radiator and window to rear elevation
Master Bedroom - 13\‘ 0\‘\‘ x 12\‘ 10\‘\‘ (3.96m x 3.92m)
Carpeted with radiator and window to front elevation.
Bedroom 3 - 14\‘ 5\‘\‘ x 15\‘ 6\‘\‘ (4.40m x 4.72m)
Part Carpet and Floor board. Window to side elevation
Property Features :
- Total Rental Income £14´400 per annum
- Return on Investment of 5.2% per year
- Situated in a busy location in the centre of Bideford
- Single Tenant with Full Repair lease on whole building
Property Info: