The popular harbour-side village of Lynmouth is considered the jewel in the crown of the Exmoor National Park. A magnet for thousands of visitors throughout the year, attracted by a rich variety of shops, cafes and pubs along the seafront and harbour. Families, walkers and day-visitors provide strong trade for this busy resort village all year round.
The premises offered are located beside the world famous Lynton & Lynmouth Cliff Railway. The world’s largest and steepest water-powered cliff railway is one of the top visitor attractions in the South West of England and draws tens of thousands of visitors annually, generating valuable passing trade for the leaseholder tenants.
The premises were built in 1994 and are presented in excellent condition. The walls are of concrete block faced with natural stone, under a clay tiled roof.
Please note: To minimise disruption to these busy retail businesses, viewings are strictly by appointment with sole agents, Exmoor Property.
Available as a joint lot only, the investment breaks down as:
Description: A large sea-front retail premises of approximately 50m².
Lease term: Approximately 18 months remaining.
Rent review date: Next review due January 2020.
Description: A two-bedroom first floor flat (above Shop A) with direct sea views.
Income: Currently £5,400pa. (Potential income, on re-letting, of £7,200pa achievable for AST and around £15,000pa, if holiday let.)
Lease term: Held on AST (Now expired and holding over, with two-months’ notice required.)
Rent review date: Rent review on renewal of lease.
Shop B & Flat B
Description: A large shop premises of approximately 80m², together with a two-bedroom sea view flat.
Lease term: Approximately 3 years remaining.
Rent review date: Next review due December 2019.
EPCs are available for both shops and flats on request
Four marked parking spaces beside Shop A are alsoincluded.