Tiverton, Devon

£180,000
Bed
Bathrooms
  • Substantial town centre freehold building
  • Two separate self-contained shops with ground floor and basement accommodation
  • Four flats sold off on long leasehold interests above
  • Ideal investment opportunity
  • Guide price £180,000

Full Property Details

For Sale or To Let - 38 & 40 Bampton Street, Tiverton, Devon EX16 6AH

The premises are located within the heart of the town centre in a good secondary trading position close to the Market Walk shopping centre and car park.

Nearby occupiers include BetFred, Peacocks Clothing, the Post Office and Costa Coffee amongst other independent and national retailers.

Substantial town centre freehold building

Two separate self-contained shops with ground floor and basement accommodation

Four flats sold off on long leasehold interests above

Ideal investment opportunity

Guide price £180,000

The property comprises two ground floor self-contained shops with the accommodation arranged on the ground floor and basement floors. Number 38 is currently vacant and being offered on the open market by way of a new contributory full repairing and insuring Lease at a commencing rent of £11,500 per annum.

Number 40 is available to rent at 8,000 per annum. Further details of the Lease are available from the agents.

The upper floors comprise 4 flats which have been sold off on long Leases at a Peppercorn Rent.

Tiverton is a busy market town with a population of approximately 22,000 and with a further rural catchment population of about 20,000. The town lies on the A361 North Devon Link Road to the North Devon coast and thus during the summer months attracts many tourists.

The premises are situated in the town centre in a good central trading location close to the Market Walk Shopping Centre and Car Park. Nearby occupiers include Fox & Sons Estate Agents, BetFred, Peacocks Clothing, the Post Office and Costa Coffee amongst other independent national and local retailers.

Accommodation

38 Bampton Street

Ground Floor - 996 sq ft (92.60 sq m)

Basement - 308 sq ft (28.65 sq m

Total - 1,304 sq ft (121.25 sq m)

40 Bampton Street

Ground Floor - 343 sq ft (31.8 sq m)

Basement - 213 sq ft (19.8 sq m)

Total floor area - 556 sq ft (51.6 sq m)

Upper Floors

4 Flats sold off on long leasehold interests at a peppercorn rent

Tenancies

38 Bampton Street (shop) - Vacant

40 Bampton Street (shop) -Vacant at a rent of £8,000 per annum.

First Floor Flat (1) - 99 years from 1 January 1990

Second and Third Floor Flat (2) 99 years from 1 January 1990

First Floor Flat 1 (40) 99 years from 1 January 1990

Second and Third Floor Flat 2 (38) - 99 years from 1 January 1990.

Rent

The ground rents for the flats are peppercorn.

Rateable value

The following information is via the Valuation Office web site:

38 Bampton Street - Rateable Value £15,500

40 Bampton Street - Rateable Value £7,400

Proposal

The freehold interest is available for sale at a guide price of £235,000

VAT

All figures are exclusive of VAT where applicable

Viewing and Further Information

Strictly by appointment with the sole agents:

Seddon Estate Agents

Contact: Nick Seddon

Telelphone: 01884 253 500

Email: nick.seddon@seddons.com

OR

Stratton Creber Commercial

20 Southernhay West, Exeter, Devon

Contact: Damian Cook

Telephone: 01392 202203

Email: damian@sccexeter.co.uk

Please see the floor plan for the dimensions. The internal photos have been taken with a wide angle lens to show more of the rooms.

Property Location Map

Floor Plan

Property Floor Plan

EPC

EPC