Property information

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GENERALLY

UNDERWOOD WARMINGTON are pleased to have been appointed Sole Letting Agents of this superbly located RETAIL/OFFICE unit which adjoins the Tesco store at Rose Lane/Eastern Avenue (Whiddon Valley) in Barnstaple. There are only 3 independent traders operating from this exclusive location and thus the availability of Unit 3 is a fantastic business opportunity.

The premises provide circa 1,000 sq. ft. (93m2)

Frontage 16′ 9” (5.11m) plus windowed return

Interior width @ frontage 19′ 8” (5.99m)

Built Depth 49′ 6” (15.1m)

Zone A space 390 sq. ft. (36.2 m2)

Zone B space 394 sq. ft. (36.6 m2)

Zone C space 199 sq. ft. (18.5 m2)

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.

ENERGY PERFORMANCE CERTIFICATE

An Energy Performance Certificate has been commissioned.

LEASE TERMS

The premises are available to rent on new 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.

RENT

£16,750 per annum (plus VAT)payable monthly or quarterly (to be agreed) in advance. A one month rent deposit will be required to be held by the landlord. Rent review after 3 years based on change in RPI/CPI index (no downward movement) Tenant responsible to maintain interior and pay a due proportion of exterior repairs/decoration (capped at £1500.00) Service Charge – limited and due proportion with adjoining two units. Landlord insures property and tenant pays due proportion, together with adjoining occupiers (as above)

LEGAL COSTS

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

VAT

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

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

Business rates

Rateable value:	£19,500
Rates payable for 2021/22:	£9,730 (approx)

COVID MEASURES

Retail premises will receive 100 % relief from Business Rates, period 1 April '21 - 30 June '21 and 66 % relief, period 1 July ' 21 - 31 March 2022.

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