Summary - 5 CROSS STREET BARNSTAPLE EX31 1BA
2 bed 1 bath Shop
Let mixed-use freehold with immediate income and active management potential.
Prominent three-storey Victorian facade with large bay windows and high ceilings
Ground-floor shop let £12,000 pa; tenant break at year 5 of 10-year lease
First-floor office suite let £5,750 pa; internal repair and insure lease terms apply
Refurbished two-bed flat let £9,000 pa; gas central heating, modern shower room
Total current rent roll £26,750 pa — immediate income for buyers
Medium flood risk in area; check insurance and mitigation costs
Very high local crime and very deprived area — affects tenant pool and yields
Service charge for external repairs; potential maintenance liabilities
A three-storey Victorian commercial building in Barnstaple town centre, offered with all existing tenancies. Ground floor shop is let to an estate agent on a 10-year lease (tenant break at year 5). First-floor office suite and a refurbished two-bedroom flat on the second floor are also income-producing, giving a total rent roll of £26,750 pa.
The property suits an investor seeking an immediately cash‑positive, mixed-use freehold in a central location with good footfall and transport links. Large windows and high ceilings to the front provide attractive character; the office and flat are functional and currently let, reducing short-term vacancy risk.
Buyers should note material risks plainly: the area records very high crime and very high deprivation, and the site has a medium flood risk. Leases are on internal repairing and insuring terms with a service charge for external repairs; the shop lease includes a tenant break clause and the tenure details are not specified in the marketing information.
This is a hands-on investment proposition with steady rent now and potential for active asset management — for example lease renegotiation, redecoration or repurposing subject to consent. Prospective purchasers should verify EPCs, flood and crime mitigation options and carry out their own surveys before offer.
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