Available
Bradworthy – Costcutter & Post Office
Post Office House, Bradworthy, Holsworthy, Devon EX22 7SSVirtual Freehold Retail Investment
Price
OIEO £190,000
Rent P.A.
£15,000
Yield
7.89%
Tenure
Leasehold
Lease Term
20 Years
Years Left on Lease
18y 1m
Area
966 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Let until 2041 (no breaks)
- Rent reviews linked to RPI every 5th year
- Tenant in occupation for more than 18 years
- Comprises ground floor shop trading as Costcutter/Post Office
- Nearby occupiers include butchers, pub and a hardware store.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop t/a Costcutter and Post Office, providing the following accommodation and dimensions:
Retail area: 73.20 sq m (788 sq ft)
Rear storage: 16.50 sq m (178 sq ft)
Total area size: 89.70 sq m (966 sq ft)
Retail area: 73.20 sq m (788 sq ft)
Rear storage: 16.50 sq m (178 sq ft)
Total area size: 89.70 sq m (966 sq ft)
Tenancy Description
The property is at present let to N & R Retail Ltd t/a Costcutter for a term of 20 years from 1st April 2021 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Rent review linked to RPI every 5th Year. No break clause. Personal guarantee. Deposit held of £3,750.
Tenure:
Long leasehold. The property is held on a 999 Year lease from 1st April 2021 at a ground rent of £1 p.a.
Tenure:
Long leasehold. The property is held on a 999 Year lease from 1st April 2021 at a ground rent of £1 p.a.
Tenancies & Accommodation
Location Description
Bradworthy is a village and civil parish in Devon, England. The larger town of Holsworthy, is 7 miles away, and the coastal resort of Bude, with its safe sandy beaches and surfing, is 10 miles away. The property is located in a prime space in Bradworthy village square alongside a range of amenities including Doctors surgery, the Bradworthy Primary Academy, 12th Century Church, and a Pub. The University city of Exeter with its intercity rail and motorway links is approx. 40 miles away.
