East Street, South Molton, Devon, EX36

Under Offer ££195,000 Guide
3

Key Features

Prominent town centre position with return frontage.
Ground floor shop with a separately accessed maisonette.
Income potential of £15,840 per annum.
Total retail sales area of 845 sq ft including kitchen and stores.
Maisonette with 3 double bedrooms.
Freehold. Guide Price: £195,000

About This Property

Prominent town centre position with return frontage.
Ground floor shop with a separately accessed maisonette.
Income potential of £15,300 per annum.
Total retail sales area of 845 sq ft including kitchen and stores.
Maisonette with 3 double bedrooms.
Freehold. Guide Price: £195,000

DESCRIPTION
The premises comprises a Grade II Listed mixed use linked building spread over 4 floors. On the ground and basement floors are the shop and on the first and second floors the three bedroomed maisonette. The well placed shop benefits from an open plan retail area with 2 possible entrance points, return frontage, kitchen and further sales, stores and WCs on the lower floor. The shop is serviced by mains gas, water and drainage. The residential maisonette has its own private entrance entering in to the entrance lobby with stairs rising to the first floor. The accommodation comprises a spacious sitting room and dining room with views down East Street, spacious fitted kitchen and store on the first floor. The galleried landing to the second floor leads to three double bedrooms with family shower room on the second floor.
TENANCIES
The ground floor shop is let on a 3 year full repairing and insuring lease at £7,500pa until 21st November 2022. The residential maisonette is currently vacant. The maisonette would rent for approximately £695 per calendar month.
TERMS
The property is available for sale freehold subject to the lease at a guide price of £195,000. We are advised the property is not registered for VAT, therefore VAT will not be payable on the purchase price.
BUSINESS RATES & COUNCIL TAX
The premises have a current rateable value of £4,500 per annum. Interested parties should make their own enquiries with the Local Authority to ascertain the rates payable. 100% Small Business Rates Relief is available to some occupiers where rateable values are less than £12,000 per annum. The residential maisonette is within Council Tax Band A.

SITUATION
The bustling market town of South Molton is well situated within North Devon, enjoying easy access from the A361 link road and providing a good range of local services, including shops, a high street bank, recreational facilities and primary and secondary schooling. The larger centre of Barnstaple to the north west affords an extensive range of commercial, recreational and educational facilities, befitting those of an important regional hub and including both local and national high street shops, banks, restaurants, public houses, a leisure centre, cinema and theatre. South Molton is surrounded by picturesque North Devon countryside which provides a wealth of outdoor activities including walking, horse riding, cycling, sea, coarse and game fishing, and golf courses at High Bullen, Libbaton, Portmore and Saunton. To the north the Exmoor National Park offers beautiful moorland scenery with many foot and bridle paths, whilst the stunning North Devon coast is easily accessible, with popular sandy beaches at Instow, Saunton Sands, Croyde Bay, Putsborough and Woolacombe.

Service & Outgoings
Mains electricity, gas, water and drainage are connected to the property.
Read More

Contact South Molton Residential Sales

23 Broad Street Devon South Molton EX36 3AQ

Meet your Agent

Richard Webber Partner - Surveyor & Valuer Full Bio 01769 574500 07740 881180
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