Prime High Yielding Retail Investment with First Floor Development Opportunity
Shop let to Waterstones Booksellers Limited
Shop lease renewed in 2020 (Previous rent £79,000 pax)
Vacant first floor with separate entrance from front (1,170 sq ft)
Potential to convert first floor to 1 x 2 bed and 1 x 1 bed flats (subject to consents)
Prime trading location between the two entrances to Green Lanes Shopping Centre
Nearby retailers include Primark, Superdrug, Boots the Chemist, JD Sports, Costa Coffee, WHSmith and Next
Lot 9
Auction 16th February 2023
Rent £65,000 per Annum Exclusive plus Vacant first floor
Status Sold Prior
Price
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
38 miles north-west of Exeter, 45 miles west of Taunton
Roads
A39, A361, A377, M5 (Junction 27)
Rail
Barnstaple Railway Station
Air
Exeter International Airport
Situation
The property is situated in the heart of the town centre, between the two entrances to Green Lanes Shopping Centre which benefits from over 400 car parking spaces. Nearby retailers include Primark, Superdrug, Boots the Chemist, JD Sports, Costa Coffee, WHSmith and Next.
Tenure
Freehold.
Location
Miles
38 miles north-west of Exeter, 45 miles west of Taunton
Roads
A39, A361, A377, M5 (Junction 27)
Rail
Barnstaple Railway Station
Air
Exeter International Airport
Situation
The property is situated in the heart of the town centre, between the two entrances to Green Lanes Shopping Centre which benefits from over 400 car parking spaces. Nearby retailers include Primark, Superdrug, Boots the Chemist, JD Sports, Costa Coffee, WHSmith and Next.
Tenure
Freehold.
Description
The property comprises a well configured shop arranged on the ground floor with a first floor separately accessed from the front. The property benefits from rear access for servicing.
VAT
VAT is applicable to this lot.
Planning
The vacant first floor might lend itself to alternative use including residential, subject to obtaining the necessary consents. For all enquiries please contact North Devon Council (www.northdevon.gov.uk) (Telephone Number: 01271 327711)
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a well configured shop arranged on the ground floor with a first floor separately accessed from the front. The property benefits from rear access for servicing.
VAT
VAT is applicable to this lot.
Planning
The vacant first floor might lend itself to alternative use including residential, subject to obtaining the necessary consents. For all enquiries please contact North Devon Council (www.northdevon.gov.uk) (Telephone Number: 01271 327711)
(1) Waterstones trade from over 280 bookshops in the UK (www.waterstones.com) (2) See Planning
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.
