Commercial property for sale in 45 High Street, Budleigh Salterton, Devon EX9

Freehold income producing investment opportunity

Ground floor shop let with sold off maisonette above

Popular and affluent seaside town

Total rent: £9,650 p.a.

Busy trading position

The premises are situated within the heart of the town centre amongst national and independent traders including the Co-op, Lloyds Pharmacy, Devon Air Ambulance, Bradley's estate agents and Hospiscare.

Budleigh Salterton is a popular and highly sought after seaside town approximately 15 miles south of Exeter and situated within an Area of Outstanding Beauty (anob).

The town has a resident population of approximately 7,750 and benefits from an influx of tourists in the holiday season.

The property comprises a mid terraced period property with the ground floor occupied by the Co-op Funeral care providing a number of individual offices, chapel, kitchenette, storage and w/c facilities.

To the rear there is a store/workshop with accommodation arranged on the ground floor and mezzanine.

The upper floors of the building comprise a self-contained maisonette which has been sold off by a long leasehold basis.

Rent
Shop: £9,500 per annum
Maisonette:£150 per annum
total: £9,650 per annum

The property has not been elected for VAT and will not be chargeable to the purchase price.

Each party to pay their own legal costs incurred in the transaction.

An EPC is available for this property. The rating is C/68.

The property is being sold with the benefit of a lease of the ground floor retail unit and rear store let to the Funeral Services limited (Registration No. IP030808) for a term of 10 years from the 7th September 2015 on an effectively full repairing and insuring basis. The passing rent is £9,500 pa and subject to 5 yearly rent reviews.

There is a tenants option to break at the end of the 5th year (7th September 2020) which was not implemented.

The maisonette on the upper floors has been sold off on a long lease for a term of 125 years from 1989 subject to a ground rent of £150 per annum.

Funeral Services Limited t/a Co-op Funeralcare is a wholly owned subsidiary of the Co-operative Group based in Manchester which operates over 1,000 Funeral homes and is one of the largest Funeral Directors in the United Kingdom.