42, Boutport Street, BARNSTAPLE, Devon, EX31 1SE

Virtual Freehold Town Centre Investment
Let to Coral Racing
Rent Reserved £22,500 per annum

Location:
The property is located in this Town centre position at the junction of Boutport Street with Queen Street with the area being home to a mix of multiple retailers together with long standing local outlets. The property is also close to the well known Pannier Market which is a strong draw for shoppers both within Barnstaple but also outlying areas. This north Devon town also has great road links, being at the junction of the A39, A361 and A377 and of course lies on the River Taw within an area popular with tourists in the summer months which boosts trade in the town.

Description:
The property forms the ground floor of this three floor mid terrace building and is part of a retail parade fronting Boutport Street close to its’ junction with Queen Street. The property is arranged to provide retail accommodation with good frontage and is currently trading as a Coral Bookmakers.

Accommodation:
Retail Area Zone A 30.9 sq.m (332 sq ft)
Retail Area Zone B 28.0 sq.m (301 sq ft)
Retail Area Zone C 41.7 sq.m (448 sq ft)
Retail Area Zone A 57.0 sq.m (613 sq ft)
Total Internal Area 157.8 sq m (1698.5 sq ft)

EPC Rating: TBC

Tenancy:
The property is let to Ladbrokes Betting and Gaming Limited( t/a Corals) for 5 years from 24th June 2022 on effective full repairing and insuring terms with no rent review or break clause.

Rent Reserved
£22,500 per annum.

Tenure:
Virtual Freehold – held on a lease for a term of 8006 year (less 3 days) from 1st January 1994 at a peppercorn ground rent.







Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.