A substantial double fronted property situated in the heart of Ilfracombe town centre and close to the seafront. Arranged as two ground floor commercial units with five
self contained flats occupying the upper three floors the property would benefit from some improvement works.
Once completed the property is considered suitable for retention as a letting investment or alternatively individuals may wish to consider selling the units back into the local market individually.
Commercial Units
Ground Floor
51 High Street
Shop floor, stock room, office, staff kitchenette and cloakroom with W.C.
Tenancy
Let on a six year commercial lease from 5th August 2020 at a current rent of £5,200 per annum. There is a rent review on the 5th September 2023.
51A High Street
Shop floor, staff kitchen and cloakroom with W.C.
Tenancy
Let on a six year commercial lease from 1st December 2020 at a current rent of £7,200 per annum. There is a rent review on the 1st December 2023.
Flats 1-5
Ground Floor
Communal entrance to rear and bin store.
First Floor
Flat 1
Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.
Flat 2
Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.
Second Floor
Flat 3
Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.
Outside
Communal veranda area.
Third Floor
Flat 4
Living room, kitchen, three bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.
Flat 5
Open plan kitchen/living room, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.
Auctioneer's Note
At the time of publication the auctioneers have not inspected the whole of the property. Interested applicants should rely on their own enquiries to verify the information provided.