Costa Coffee, Ilfracombe

 

118 High Street, IIfracombe, Devon, EX34 9EY

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Restaurant
  • Tenure: Virtual Freehold (999 years)
  • Gross Rent: £17,500
  • Lease Term: 10 years from Jan '17
  • VAT applicable?: Y

Property Description

  • Virtual Freehold, coffee shop investment.
  • The property is arranged on ground and part first floor to provide a double fronted ground floor shop, which has now been fitted out as a new Costa Coffee with ancillary accommodation to the first floor.
  • The property extends 1170 sq ft.
  • Town centre location.

Location Description

  • IIfracombe is a popular resort town lying on the north Devon Coast, 12 miles north of Barnstaple.
  • The town has a population of some 10,000, but benefits from the influx of visitors during the summer months.
  • The property is situated on the south side of High Street, in the heart of the town centre.
  • Occupiers close by include Lloyds Bank, Royal Mail, Nationwide, Superdrug and McColl's, among others.

Additional Notes

  • The property at present is let to Premier Coffee Ltd, for a term of 10 years from 13 January 2017 at a current rent of £17,500 per annum.
  • The lease permits rent reviews every fifth year of the term and contains full repairing and insuring covenants.

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