87 Fore Street Kingsbridge

Guide Price £110,000

87 Fore Street Kingsbridge

Location:

The Property is situated in a prime location at the higher end of Fore Street within the town centre.

Kingsbridge is the most southerly market town in Devon and lies roughly equidistant between Plymouth to the west (some 20 miles) and Totnes to the east (some 13 miles). The town has a resident population of circa 6,000 with a catchment population of circa 18,000 when taking into account the surrounding villages. The town is well represented with a mix of both national and independent traders including Boots, WHSmith, Herring Shoes, Beacon Electrical and Peacocks and a host of coffee shops, cafes and restaurants.

Plymouth sits 20 miles to the west and Exeter sits 38 miles to the north east.

Description:

The Property is Grade II listed and comprises part of a three storey period building within a terrace of retail units on Fore Street. The retail accommodation comprises a main shop with rear store and W/C. The store room has alcoves in the store which form attractive features.

The shop has a period glazed shop front with rendered exterior and sits under two upper floors which are slate-hung under a pitched slate roof. The first and second floors comprise residential premises with a further adjoining separate cottage to the rear.

Accommodation:

The ground floor accommodation provides the approximate dimensions and floor areas:

Retail Sales: 507 sq ft/ 47.09 sq m.

Rear Store: 93 sq ft/ 8.64 sq m.

W/C

Net Total: 600 sq ft/ 55.73 sq m.

Key Features

  • Long Leasehold Investment For Sale
  • Prominent position on Fore Street
  • Let to “Samphire Foods”
  • Guide Price: £110,000.

Property Details

Property Type Commercial Property
Postcode TQ7 1AB

Room Descriptions

Viewing & Further Information

Strictly by appointment through Charles Head acting as sole agents:
Charles Head, 113 Fore Street, Kingsbridge, TQ7 1BG
Contact: Kirsty Sproson
Tel: 01548 852352
Email: Kirsty.sproson@charleshead.co.uk

Legal Fees

Both parties are to pay their own professional costs.

Business Rates

The current rateable value is £9,598.

For the financial year (2020-21), premises with a rateable value of £12,000 or less will qualify for 100% Business Rates Relief.

Services

It is understood that mains electricity, water and drainage are connected to the Property however these services have not been tested by the agents. Interested parties should make their own enquiries.

Energy Performance Certificate (EPC)

An Energy Performance Certificate has been carried out on this property and can be viewed by going to www.ndepcregister.com and entering the certificate reference number 0510-0637-0759-4302-8096 which shows a score of 148 (Band F).

VAT

The Property is net currently elected for VAT so VAT is not applicable to the purchase price.

Proposal

We have therefore been instructed to sell the long leasehold in the property at a price of £110,000 subject to contract. This figure will show an investor a gross yield of 7.5%.

Tenure

The Property is available for sale on a 999 year long leasehold with Samphire Foods as sitting tenant for the remaining term of their lease (two years) expiring on 17th March 2022 at £8,250 per annum on full repairing terms.

The long leaseholder will be responsible for paying a fair proportion of the building’s maintenance and insurance administered through a service charge management company.

Location

The Property is situated in a prime location at the higher end of Fore Street within the town centre.

KINGSBRIDGE OFFICE

113 Fore Street
Kingsbridge, Devon
TQ7 1BG

01548 852352

Enquire about this property

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