Terraced house for sale

South Street, South Molton, Devon EX36

Potential return on investment of 7.5%!
Fantastic investment opportunity to acquire a spacious ground floor shop with facilities, located in a prominent town position.

An attractive opportunity to acquire a commercial premise’s that has been recently refurbished, yet still providing scope for further development. The shop is ground floor level and has been well maintained by the current owner and is suitable for many different uses, subject to planning. The shop area is a large versatile space with roadside window, leading through to a kitchenette which is well fitted with plumbing. A door leads through to a store area with external door, cloakroom off of with WC and a further large store cupboard. With the benefit of an external door, this space provides scope to incorporate the outside store if required. Offering the potential return on investment of 7.5 %, the shop will be sold with vacant possession.
For layout and approximate room measurement please see the enclosed floorplan.
Outside

To the side of the property is an alley way, with separate access to the premises and a useful bin storage area and store outbuilding.
Terms

The property is available for sale freehold at a guide price of £79,950. We are advised the property is not registered for VAT, therefore VAT will not be payable on the purchase price.
Services & outgoings

We understand that mains water, electricity and drainage are connected.
Business rates & council tax

The premises has a current rateable value of £4,200 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.
Tenure information The property is freehold and the lease of 78A South Street will be included and transferred upon a sale. The lease is the remainder of 999 years from 2023, for which the current leaseholder pays 50% of the buildings insurance.
Additional information


Broadband: Fttc broadband is available—highest available download speed 76 Mbps, highest available upload speed 15 Mbps. (Based on Openreach data).

Mobile Coverage: Likely coverage available via O2, limited coverage from EE, Three and Vodafone. For an indication of specific speeds and supply or coverage in the area we recommend contacting your own provider. (Based on Ofcom data)

Flooding: The property is in an area at a very low risk from River/Sea and a low risk of Surface Water flooding. (Gov UK data).
Construction Type: Brick and timber frame

South Street is an extremely convenient location just off of the town square of South Molton. The bustling market town of South Molton is located just to the south of Exmoor and is surrounded by delightful countryside offering a wide range of recreational pursuits including miles of walks, riding and cycling both on the moor itself and in the neighbouring environment. Fishing can be enjoyed on the rivers Mole, Taw and Torridge and the dramatic North Devon coastline is within 40 minutes travelling distance with a variety of locations ranging from quiet bays and coves such as Lee Bay and Woody Bay to the renowned surfing beaches of Woolacombe, Croyde and Saunton Sands. Golf courses may be found at Tiverton and Barnstaple, together with links courses. Barnstaple and Tiverton are both easily accessible via the A361 North Devon link and offer a wider range of facilities, together with further schooling and entertainments. Exeter is within 40 minutes travelling distance, whilst Junction 27 of the M5 motorway and Tiverton Parkway main line rail station are both approximately 30 minutes drive, providing fast access to the rest of the country. International airports are available at Exeter and Bristol.