71 High Street
Barnstaple
Devon
EX31 1HX

Freehold Retail Investment

  • Let to tenant trading as Coopers Jewellery
  • October 2017 Rent Review outstanding (2)
  • Excellent trading location directly opposite Green Lanes Shopping Centre and close to Marks & Spencer, WHSmith, Next, Boots the Chemist and Superdrug
  • Attractive North Devon market town
  • Lot
    20
  • Auction
    14/Feb/2018
  • Rent
    £22,500 per Annum Exclusive
  • Status
    Sold
  • Price*
    £326,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 71 High Street<br>Barnstaple<br>Devon<br>EX31 1HX
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Property Information

Location
Miles
38 miles north-west of Exeter, 45 miles west of Taunton
Roads
A39, A361, A377, M5 (Junction 27)
Rail
Barnstaple Railway Station
Air
Exeter International Airport
Situation

Barnstaple is a popular North Devon town with a population of 28,000 which is swelled by the influx of tourists in the summer months. The property is situated on the western side of High Street, at the edge of the pedestrianised section and opposite one of the main entrances to Green Lanes Shopping Centre. The property is adjacent to JD Sports and Clintons Cards, with other nearby occupiers including Marks & Spencer, WHSmith, Costa, Boots the Chemist, Superdrug, TK Maxx and Caffè Nero. Cattle Market Car Park is located nearby with parking for over 200 cars.

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on the first floor. The two upper floors of the adjoining building (trading as Clinton Cards) fly over the ground floor at the front, whilst a small area of the subject property’s first floor extends over the adjacent property occupied by Clinton Cards – please see title documentation.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
First
Retail
Ancillary
97.60 sq m
69.40 sq m
(1,051 sq ft)
(747 sq ft)
D. BRUCE ESQ.
t/a Coopers
Jewellery (1)
10 years (less a day)
from 25/10/2012 on a full
repairing and insuring
lease (3)
£22,50024/10/2017 (2)
(23/10/2022)
Total
167.00 sq m
(1,798 sq ft)
  £22,500 

(1) With over 40 years of experience in the trade, Coopers Jewellery opened their first retail shop in 1995 in the historic North Devon town of Bideford. Coopers Jewellery offer fine antique, vintage and modern jewellery (Source: www.coopersjewellery.com 09/01/2018).
(2) Under the terms of the lease, the tenant may only terminate the lease 28 days after a notice of determination of the first rent review in October 2017. However, the landlord has not actioned the October 2017 rent review. The option to determine in 2014 was not operated by the tenant.
(3) The lease is full repairing and insuring, subject to a Schedule of Condition.

Property Documents

  • Site Plan
    Updated Date
    23.01.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    23.01.18
    File Size
    848 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Harold Benjamin Solicitors Hill House, 67-71 Lowlands Road
Harrow
Middlesex
HA1 3EQ
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

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