New Street, Honiton

Unique town centre investment with two let shops. Freehold. Business Rated. no24: EPC Band C, no24A EPC Band D.

INVESTMENT PROPERTY
If you are considering investing in a Buy To Let or letting another property, and require advice on current rents, yields or general lettings information to ensure you comply, please contact a member of our lettings team on 0140442553.

Our team let both of these shops to the current tenants.

SITUATION
Located on one of the main thoroughfares through Honiton the building is just a moments walk from the High Street of Honiton within the Honiton Conservation Area. Honiton lies on the southern edge of the Blackdown Hills, a designated Area of Outstanding Natural Beauty just 10 miles from the stunning Jurassic coast at Sidmouth, itself a natural World Heritage Site.

Communication links are excellent with a direct rail service from Honiton Station to London Waterloo whilst the A30 provides quick and efficient road access to the cathedral city of Exeter, some 16 miles to the west and junction 29 of the M5 motorway. Exeter hosts a main line rail service to London Paddington, an international airport and extensive shopping and leisure facilities. Taunton, the county town of Somerset is approximately 28 miles to the northeast with the A303 and A35 providing alternative cross country road links to London and the south.

TWO SHOPS & FREEHOLD
This unique investment opportunity comprises the freehold of the building, with an emergency access via the rear.

The property includes the two shops on the ground floor, which have been both let recently on new 3 year leases, Use Class E. The freehold is subject to the long leasehold of the residential apartment over, being sold separately, there would be a 50% responsibility for the building for maintenance, repair and insurance etc, a responsibility of the current tenants within their lease.

24 NEW STREET 7.13m x 6.77 (23'4" x 22'2")
Right Hand Shop. A ground floor lock up shop with useful ancillary space to include kitchen area and WC.

The shop had been used as a news agents for several years, with new tenants Darryl Robert Aesthetics having a recently started 3 year tenancy.

The accommodation briefly comprises:

FRONT SHOP WIDTH approx. 7.13m

FRONT SHOP DEPTH approx. 6.77m

REAR HALLWAY with door to rear. Tenants would have access over the rear courtyard for emergency purposes only.

KITCHEN AREA with base unit and inset sink, floor mounted safe.

CLOAKROOM with WC and wash hand basin.

24a NEW STREET 3.53 m x 5.71m (11'6" m x 18'8" )
Left hand shop. A ground floor lock up shop with useful ancillary space to include kitchen area and WC. No rear access.

The shop was previously used as a mobile phone shop and the area has been divided up with partition walls and racking. The shop has been recently let to Devons Domestic Recycling.

The accommodation briefly comprises:

FRONT SHOP WIDTH approx. 3.53m

FRONT SHOP DEPTH approx. 5.71m

KITCHEN AREA with sink, shelving units and door provides access to the adjoining WC.

RATEABLE VALUE
As of 1st April 2023 the rateable values are £5,400 for 24 New Street and £4,600 for 24a New Street, therefore business rate relief is likely to be available to the tenants.

SERVICES
Mains electric and water.
Please note that the water for No 24 and the flat above (24 b) is currently on one meter. Therefore a split between the two premises will need to be agreed.

PLANNING
Planning permission is in for replacement of the front shop window ref 23/2481/FUL