Fore Street, Tiverton, Devon, EX16

A great investment opportunity to purchase a commercial unit (currently let) with separate large three bedroom maisonette above and parking in the heart of Tiverton

DESCRIPTION
Situated within the heart of Tiverton town centre, this superb opportunity presents any potential Purchaser with the possibility of buying a mixed use residence, offering an attractive yield return.
The commercial premises have recently been re-let to a long-standing tenant, with a five-year lease currently generating an income of £10,200 per annum (including a contribution towards the buildings insurance cost). The ground floor commercial presence offers a large shopfront space (measuring around 1220 sq. ft), with an additional two offices, a store room, cloakroom and Kitchen to the rear of the ground floor. A rear door leads out to the five parking spaces - of which, three are included in the commercial lease.
Situated above the commercial premises, there is a separate private maisonette, benefitting from its own entrance to the rear. An external staircase provides access up to the front door, with a private roof terrace. The maisonette accommodation comprises;

Front door into the spacious Entrance Hall with a great range of built-in cupboards. The Kitchen/Dining Room offers a spacious room fitted with a range of wall, base and drawer units, space and plumbing for a washing machine, space for electric cooker and space for a fridge/freezer. Bathroom is fitted with a matching suite comprising bath with shower over, closer coupled WC and wash hand basin. Bedroom 2 is a double bedroom with wash basin. The Sitting Room offers a large reception room with front aspect and central stone fireplace.

Stairs rise to the second floor where the current Vendor has begun works removing a wall, opening up this floor to one large Master Bedroom. This could be reinstated to create a third bedroom space, should any Purchaser wish to do so.

The property could benefit from some small remedial works but offers a fantastic opportunity to potential Purchasers to earn around £9,000 per annum.

The maisonette benefits from the two remaining parking spaces to the rear of the property.

OUTSIDE
The property is accessed via an external staircase, to the rear of the commercial premises. There are two parking spaces available with the maisonette and three parking spaces currently occupied under the commercial lease on the shop premises.

TENURE
The property is of freehold tenure.

SERVICES
Mains electricity, water and drainage are connected.

Maisonette Council Tax Band A - Mid Devon District Council, Phoenix House, Phoenix Lane, Tiverton, Devon EX16 6PP

Commercial Rateable Value - £11,500 per annum.

DIRECTIONS
The property is located opposite our offices in Fore Street, Tiverton.

Using the app ‘What3words’, please follow directions to; ‘formed.animal.bolt’