High Street, Sidmouth Offers in the Region Of £1,100,000

SUMMARY

The property is situated towards the top of the High Street, with nearby retailers including a Co-op supermarket and Factory Outlet store. The two self-contained flats are well presented and both having the benefit of modern fully equipped kitchens and bathrooms. Sidmouth has a population of around 14,000 and benefits from all year round trade together with an influx of tourists in the summer season. The town has a good mix of national chains and local independent retailers.

GROUND FLOOR

TESCOS EXPRESS SHOP Retail area 229 sq. meters approximately. Modern shop front with ATM. Managers office. Kitchenette. Two WCs STORAGE 78 sq. meters approximately.

FIRST FLOOR

FLAT 132A Hall, Living Room, Well Fitted Kitchen, Two Double Bedrooms, Bathroom/WC.

FIRST/SECOND FLOOR

FLAT 132B FIRST FLOOR Double Bedroom with En Suite Shower Room/WC. SECOND FLOOR Hall, Living Room/Kitchen, Two Further Double Bedrooms, Bathroom/WC.

LEASE TERMS

TESCO’S EXPRESS 10 year lease from August 2021 on effective full repairing terms. Current rent £40,000 per annum. Rent review January 2026. Tenants break clause January 2026 on six months notice. FLAT – 132A Vacant FLAT 132B Let on a six month tenancy. The flats have until recently been holiday lets, producing circa £24,000 per annum net. The rental value of the flats on AST’s is approximately £850 per calendar month each (£20,000 PA Gross).

TESCOS RATEABLE VALUE £47,750 from 1st April 2023

EPC’s:

TESCOS - B FLAT 132A – D FLAT 132B - D

REF: DHS02127

VIEWING

Strictly by appointment with the agents.

IMPORTANT NOTICE

If you request a viewing of a property, we the Agent will require certain pieces of personal information from you in order to provide a professional service to both you and our clients. The personal information you provide may be shared with our client, but will not be passed to third parties without your consent. The Agent has not tested any apparatus, equipment, appliance, fixtures, fittings or services and so cannot verify that they are in working order, or fit for the purpose. A Buyer is advised to obtain verification from their solicitor and/or surveyor. References to the tenure/outgoings/charges of a property are based on information supplied by the seller - the Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their solicitor. Items shown in photographs/floor plans are not included unless specifically mentioned within the sale particulars. They may be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on a journey to view a property.