FREEHOLD OPPORTUNITY - BUSINESS UNAFFECTED

RETURN ON INVESTMENT IS 10.29%
Prime mixed Commercial & Residential property in Newport, a sought after area near Barnstaple Town Centre.

This 4-storey mixed Commercial and Residential building, including an Attic Room, is constructed under a pitched slate roof and benefits from a single-storey rear extension. The extension provides additional storage for the retail unit and a separate entrance for the residential flats.

The Ground Floor features a double-fronted retail unit offering 403 sq. ft (37 sq. m) of sales space. The unit is equipped with a kitchenette, toilet, and rear stockroom, with a separate rear access point for added convenience.

Above the shop are 2 self-contained flats:

Flat 1 (First Floor): A 1 Bedroom property with a Lounge/Diner, Kitchen, Bedroom, and Shower Room.

Flat 2 (Second and Third Floors): A spacious maisonette comprising a Lounge/Diner, Kitchen, Bathroom, and Bedroom on the Second Floor, with the Third Floor offering an additional Lounge, workspace, and storage area with dual-aspect windows.

To the rear of the property, there is a small yard.

SALE DETAILS
The Freehold interest is offered for sale, including the benefit of existing tenancies.

Retail Unit: Let at £6,500 per annum on a 3-year lease starting May 2024, with a tenant’s break clause after 18 months.
Flat 1: Let at £7,320 per annum.
Flat 2: Let at £7,800 per annum.
Freehold for sale with existing tenancies, generating £21,620 annual rental income.

Barnstaple Town Centre, the historic and regional centre of North Devon, is surrounded by beautiful countryside and some of the area’s best beaches. As the commercial centre of the region, the town centre offers a variety of banking, schooling and recreational facilities including a theatre, cinema, leisure centre, restaurants and the North Devon District Hospital. The vibrant town combines modern shopping amenities with a bustling market atmosphere.

The A361 North Devon Link Road provides convenient access to the M5 motorway network and beyond. Exmoor National Park and North Devon’s famous surfing beaches at Croyde, Putsborough, Saunton (also with Championship golf course) and Woolacombe are all within about half an hour by car. The nearest International airports are at Bristol and Exeter.