Specialist commercial property consultants

1 Joy Street Barnstaple EX31 1BP

Property information

Status: To Let or For Sale
Price: £650pcm or £110,000 ono
Tenure: 999 year lease

The availability of Number 1 Joy Street, Barnstaple is an excellent opportunity either for an occupier to rent premises just off the High Street or to aquire the effective freehold interest (999 year lease) which will suit the occupier who would prefer to buy rather than rent or an investor who in turn could let the shop and in so doing create an investment producing in excess of 7% per annum - far better than a building society or taking risks on the stock market !

For many years the premises have been used as a jewellers - it's quirky, snug nature being ideal for this. Naturally other retail trades who would wish to trade within 20 metres of the High Street will also trade well here as would a studio environment, consulting rooms, offices or perhaps catering, subject to obtaining any required planning consent.

THE SHOP - 22'2'' (6.8m) shop depth x 13'5'' (4.1m) internal width leading to OFFICE (6' 9'' x 6' 8''). (2.07m x (2.03m) SEPERATE WC

Currently NO BUSINESS RATES will be payable on these premises if the occupier does not trade from business premises elswhere - a porential saving of £3500 per annum,

The premises can either be rented on the basis of a new 3 year lease, commencing rent £650.00 pcm, rising to £680 pcm in years two and three, Alternatively the effective freehold can be puchased outright (999 year lease) at £110,000 or near offer.

As the owners SOLE LETTING/SELLING AGENTS we are delighted to discuss the various options with interested parties.


Business rates

Rateable value: £7,300
Rates payable for 2018/19: £3,504

NOTE - Small Business rate relief will apply to qualifying occupiers reducing the annual rates bill to NIL. Further details on this position upon request.


Tenure

The property is held on a 999 year lease with some 975 years plus to run ! ( effectively freehold) Annual peppercorn rent of £5.00

The premises can either be rented on the basis of a new 3 year lease, commencing rent £650.00 pcm, rising to £680 pcm in years two and three, Alternatively the effective freehold can be puchased outright (999 year lease) at £110,000 or near offer.


Viewing

For an appointment to view please contact:

Dean Warmington
Tel: 01271 378731
Email: dean@underwoodwarmington.com
Mobile: 07971830881


Property reference number

Reference: UW 786
 

Important notice

These particulars are for guidance only. They are prepared and issued in good faith and are intended to give a fair description of the property but do not constitute part of an offer or contract.

Any description of information given should not be relied upon as a statement of representation of fact or that the property or its services are in good condition. Neither Underwood Warmington (nor its Joint Agents) not any of their employees has any authority to make or give any representation or warranty whatsoever in relation to the property.

The photographs show only certain parts and aspect of the property at the time they were taken. Any areas, measurements or distances given are approximate only.

Any reference to alterations to, or use of, any part of the property is not a statement that any necessary planning, Building Regulations or other consent has been obtained. These matters must be verified by an intending tenant.

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