Costa Coffee, Ilfracombe
28 High St, Ilfracombe EX34 9DA, UKBasic Facts
| Property ID: 4716 | Post Updated: 2021-12-01 11:24:59 |
| Status: Sold | Type: Restaurant |
| Tenure: Virtual Freehold | Area: 1170 sq ft |
| Gross Rent: £ 15,000 | Lease Term: 10 years from Jan '17 |
| VAT applicable: No |
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.
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
- Leasehold. Held on a lease for 999 years from 2018 at a fixed peppercorn ground rent
- The property at present is let to Jurassic Coast Coffee Ltd with a guarantee from Premiere Coffee Ltd, for a term of 10 years from 13 January 2017 at a current rent of £15,000 per annum with no breaks.
- The lease permits rent reviews every fifth year of the term and contains full repairing and insuring covenants.
- Six week completion is available.
Features
Blue-chip tenant
Finance available
Lease term: 10 - 15 years
No Break clauses
No VAT applicable
Under £500k
Virtual Freehold
