Property information

View Property PDF

INTRODUCTION

The availability of these High Street premises provide opportunities for a multitude of businesses to promote themselves in the premier trading street in North Devon. Whilst retail has featured here over recent years, the modest annual rental quoted will appeal to those operations in other sectors such as catering and office uses and indeed be-spoke uses where high visibility will prove beneficial. Short and longer term rental proposals will be considered by our clients.

LOCATION
Barnstaple is located on the North Devon coast and is the principal retail, business, leisure and
cultural centre in the district and plays a strategic role in the provision of health and education
services and public administration. It lies 53 miles west of Taunton and 43 miles north east of
Exeter. Access to Barnstaple is provided by the A361 North Devon Link Road with connection at
Junction 27 of the M5 Motorway.
Barnstaple is a strong market town and tourist centre with around 750,000 visitors each year
making it the second most important destination in Devon after the Torbay area. The town has a
resident population of 32,000 and retail catchment population estimated in the region of 120,000
within a 20 mile radius of the centre. 76% of this population lives in or around the Taw Estuary
between Barnstaple and Bideford.
Nearby traders include ,Boots Opticians,Tesco Express, Holland & Barrett,
Oxfam, Shoe Zone, HSBC Bank,British Heart Foundation, Timpsons, Joules, Lattitude
48 (pub) and Rieker Shoes. See attached street traders plan.

ACCOMODATION COMPRISES

GROUND FLOOR

Imperial/ Metric          Sq. Ft.  M2
Shop frontage (ext.) 16′ 6” 5.07
Shop frontage (interior) 14′ 4” 4.43
Built Depth 56′ 3” 17.3
Zone A space 299 27.8
Zone B space 355 32.9
Zone C space 308 28.6
Overall Shop Space 962 89.3
Retail side extension 12′ 3” x 10′ 4”

WC and small stock area.

TERMS

Rental offers region £15,000 p.a.

VAT

We are advised that VAT will be chargeable on the rent.

PLANNING

Government changes to the Use Classes Order came into effect on 1 September 2020. These
premises now fall into the newly introduced, Class E. This will allow use (without the need for
planning permission through a “change of use) as a shop, financial and professional services,
restaurant/café, offices R&D and light industry, gyms and medical- health services and day
centres. clinics, creches, day nurseries etc. Interested parties should consult with North Devon
Council at Barnstaple to discuss.

LEASE TERMS

The premises are available to rent on new sub- lease terms (length to be agreed between the parties)
Incoming tenants will be required to provide two satisfactory trade and/or character references
and a bankers reference for landlords approval.

LEGAL COSTS

Each party to be responsible for their own legal costs in connection with this transaction.

VIEWING

Viewing can only be carried out with prior notice by contacting :-
Dean Warmington: DD 01271 378 731 M: 07971 830 881 E: [email protected]
Website: www.underwoodwarmington.com

Small Business rates relief may apply. Visit : www.gov.uk/apply-for-business-rate-relief/smallbusiness-rate-relief

SMALL BUSINESS RATE RELIEF

You can get small business rate relief if:
your property’s rateable value is less than £15,000
your business only uses one property – you may still be able to get relief if you use more
Contact your local council to apply for small business rate relief.
What you get :-
You will not pay business rates on a property with a rateable value of £12,000 or less.
For properties with a rateable value of £12,001 to £15,000, the rate of relief will go down
gradually from 100% to 0%.
Examples
If your rateable value is £13,500, you’ll get 50% off your bill. If your rateable value is £14,000,
you’ll get 33% off.
If you use more than one property
When you get a second property, you’ll keep getting any existing relief on your main property for
12 months.
You can still get small business rate relief on your main property after this if both the following
apply:
none of your other properties have a rateable value above £2,899
the total rateable value of all your properties is less than £20,000 (£28,000 in London)
RETAIL DISCOUNT
You could qualify for retail discount if your business:
is a shop, restaurant, café, bar or pub
is in England
has a rateable value of less than £51,000
Contact your local council to find out if you’re eligible.
What you’ll get
If you’re eligible, you could get a third off your business rates bill.

MONEY LAUNDERING COMPLIANCE

In order to comply with UK Money Laundering Regulations 2017, UNDERWOOD WARMINGTON
will require any purchaser of a freehold or leasehold interest in a property which it is marketing to
provide proof of identity and other required documents.

BUSINESS RATES

As the property is to be split (ground from upper parts) a revised Rateable Value will be determined by the Rating Authority

TENURE
Leasehold (sub-lease)

 

Business rates

Rateable value:	£0
Rates payable for :	£0 (approx)