Summary - Flat, 122 High Street, ILFRACOMBE EX34 9EY
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prime location in popular tourist town of Ilfracombe
- Fully let investment with a rental income of £32,996 per annum
- Seven retail shops with diverse tenants, including a fashion shop, cafe, and barbers
- Seven residential flats above, leased with 94 years left on the lease
- Off-street car park included at the rear
- Located near the heart of the bustling tourist area
This fully let commercial investment located in the charming coastal town of Ilfracombe presents a unique opportunity for investors seeking passive income. The property consists of a vibrant mix of seven retail spaces, each occupied by an array of local businesses, ensuring a steady cash flow with a rental income of £32,996 per annum. Above the shops, seven residential flats provide additional rental potential, with long-term leases in place.
The Tudor Revival architecture enhances the street's appeal, making it an attractive destination for both tourists and locals alike, particularly during the busy summer months. Located just a stone's throw from the harbor and popular attractions like Damien Hirst's statue “Verity,” this property is positioned to capitalize on the area's significant foot traffic.
While the investment offers solid returns, potential buyers should note the above-average crime rates in the area and the average broadband speeds that could limit some commercial operations. Additionally, given the absence of a central heating system and the assumed condition of the solid brick walls, maintenance considerations may arise.
This rare blend of commercial and residential properties, complemented by the included off-street parking, not only secures its value but also opens the door for future renovations or expansions. Don’t miss the opportunity to invest in this lucrative property, centrally located in a thriving tourist hotspot that promises growth and stability.
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