FOR SALE BY ONLINE AUCTION. AUCTION ENDS FRIDAY 9TH OF JUNE 2023 AT 12 NOON. 

Barnstaple investment. 

Ground floor shop let at £14,000 per annum, first floor office circa 536 sq ft, second floor spacious 2 bedroom apartment and to the top floor there are two store rooms. Sound mixed commercial and residential investment. 

EPC Rating F.

FOR SALE BY ONLINE AUCTION.  

AUCTION ENDS FRIDAY 9TH OF JUNE 2023 AT 12 NOON.  

LOCATION 

The premises occupy a busy town centre trading position located at the southern end of Boutport Street, close to the junction with the main High Street.  The premises adjoin Youing's toy shop on one side and hairdressers on the other and are close to the Royal and Fortescue Hotel.  The premises have a long frontage on to Boutport Street and the benefit of a separate staircase to the upper floors.   Barnstaple is North Devon's regional centre with a host of shopping facilities and supermarkets and a regional railway station leading to Exeter and the main network.  The town has a population in excess of 27,500 inhabitants and serves the local rural community with the hinterland having a population of over 127,000 inhabitants.   

THE PREMISES

The premises comprise of a ground floor shop of approximate measurements 29'8" maximum depth x 23'2" maximum width.  The upper floors are accessed from a side entrance hall with a communal staircase to the first floor and a self-contained office. To the second floor there is a two bedroom self-contained spacious apartment and to the top floor, two spacious rooms considered for further conversion to an apartment, subject to obtaining the usual planning consents.    

TENURE 

The ground floor shop is now let at a rental of £14,000 per annum on the basis of a lease, details of which are to be made available to seriously interested parties. The first floor offices are vacant however the passing rent previously achieved was around £3,000 per annum. The second floor self-contained 2 bedroom apartment is currently vacant but has previously been let for a rental in the region of £595 per calendar month. The two top floor rooms are currently vacant but could easily be converted to a 1 or 2 bedroom flat, subject to usual building regulations and planning consents to provide a further supplementary income.   This is a mixed residential and commercial investment opportunity with a possibility of providing an income. If all floors are fully let subject to all necessary consents and conversions the income would be in the region of £24,000 per annum.  

SELLERS SOLICITORS    

Brewer Harding & Rowe Solicitors Tim Nock 29 Bridgeland Street Bideford North Devon EX39 2PT Tel: 01237 427 507  Email: tim.nock@bhrlaw.co.uk  

TRADITIONAL ONLINE AUCTION INFORMATION  

Please note: this property is for sale by traditional online auction. This means that exchange will occur when the online timer reaches zero (provided the seller's reserve price has been met or exceeded). The winning buyer will be legally obliged to purchase the property at this price.     

PRICING INFORMATION    

The guide price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the guide price amount.     Webbers and Bamboo Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail. Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.    

BUYERS PREMIUM & OTHER CHARGES  

The winning buyer is charged a sum of £5,000. From this a buyers fee of £3,600 (including VAT) is retained by Webbers/Bamboo Auctions as a contribution towards online platform costs and £1,400 is payable towards the purchase price. On completion the Buyer will pay the sum of £512.28 to the Seller’s solicitors in reimbursement of search fees.