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10% gross yield! A fantastic opportunity to purchase three shops situated in the centre of Cullompton. Option to purchase separately.
Total current rental income c. £14,035 pa
No 56-58 - £5,760 pa
No 60 - £3,640 pa
No 62 - c. £4,635 pa
These shops are being offered for sale with 999 year leases. The shops and the flats above will form part of a Management Company, owning the Freehold of the building, and an annual service/maintenance charge of approximately £505 will be charged per unit, also covering insurance. There is small car park behind the shops, within the Freehold, but use of this is not currently allocated.
Business rates for 2016/2017 (2017/18 to be confirmed):
56-58 - £3,920.40
60 - £2,202.20
62 - £2,420.00
Small business relief may be available. To apply or confirm any business rates information, please contact Mid Devon District Council on 01884 255255.
Cullompton has a range of shops, including an award winning butcher's, Costa, Tesco, Aldi and Home Bargains supermarkets. Other amenities include a contemporary health centre, library and community centre and established doctor's surgeries, a veterinary practice, churches, sports clubs, pubs and recreation facilities. Cullompton is ideally placed for commuting, with Junction 28 of the M5 lying to the east of the town, regular bus services and rail links at Tiverton Parkway and Honiton stations.
Exeter c.14 miles. Taunton c. 23 miles. Tiverton c. 7 miles. Tiverton Parkway Station c. 6 miles. Honiton c. 11 miles.
No 56-58 - 83.9 sq metres (902.8 sq feet).
No 60 - 34.4 sq metres (370.5 sq feet).
No 62 - 47.1 sq metres (507.5 sq feet).
Please see the floor plan for more detail on the dimensions.
From Seddons' Cullompton office, proceed to the right into Fore Street. The shops can be seen towards the end on the right, with Seddons' boards.
Mains water, electricity and drainage.
10% gross yield. All currently let for £14,035 per annum. A fantastic opportunity to purchase three shops under 999 year leases, situated in the centre of Cullompton. Option to purchase separately.