Business for Sale in HONITON, Devon INVESTMENT PROPERTY PORTFOLIO

Key Information

Reference

INV37323N

Tenure

Freehold

Status

For Sale

Region

Devon

Sector

Investment Properties

Annual Sales

£54,600.00 Exc. VAT

Accommodation

Yes

Business Information

Prime HIGH STREET INVESTMENT PROPERTY PORTFOLIO, centrally positioned within HONITON TOWN CENTRE, fronting main shopping Hight Street, also forming part of popular shopping centre. Surrounded by national names – Coffee 1, Superdrug, Boots, Specsavers, and on route to main shopper’s car park, adjacent bus stops, with free restricted on street car parking available in front and opposite.

Substantial property offering a mixed use investment opportunity, comprising large retail unit (approx. 1,464 sq. ft.) fronting High Street, 2 smaller retail units (approx. 721 sq. ft. & 754 sq. ft.), fronting pedestrianised shopping centre development. Additional substantial 5 bedroom flat (more than 2,000 sq. ft.), potentially offering conversion to 2 flats subject to obtaining the necessary planning consents.

Units currently let and producing rental income of £54,600 per annum (7.8% yield), with scope to increase and produce £61,600 per annum (8.8% yield). Tenants include ‘Blue Chip’ national retailer with 1,000+ stores, additional multi-site retailer, and residential tenant in respect of self-contained flat. Commercial leases on Full Repairing & Insurance basis, and flat managed through local letting agent.

Freehold £700,000, Ref: INV37323N