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We are instructed to sell the freehold of a lock up retail outlet subject to the existing lease; the cafe was recently opened and refurbished as a vegan café.
The property has the frontage of 15' facing onto Church Lane, with 4 seats outside and 22 seats inside, with a depth of 21'3" with a rear kitchen area of 4'x 5'3' and separate cloakroom to the rear. The shop will be comprehensively equipped subject to inventory.
The current tenant opened a vegan cafe in 2017. This business was a start-up and the tenant has a good following.
However the business only opens on an occasional basis and the tenant may consider a surrender of the lease. Thereby enabling an owner operator to acquire the property.
Alternatively the freehold lock-up is available as an investment with a good rental return.
Our clients the head Landlord are seeking to sell the freehold interest in the property at an asking price of £65,000 as an Investment with a lease having about 4 years remaining at a passing rental of £8,000 per annum.
The cafeteria is comprehensively equipped subject to trade inventory.
Church Lane is one of the oldest streets in Barnstaple; it connects Church Walk and the High Street and has a cobbled walkway close to ancient town houses and the Parish Church with its leaning spire, church hall and church schoolhouse.
Nearby is the ever popular Butchers Row and the Pannier Market and all town centre amenities are within level walking distance. In the vicinity retailers include a comic book sales outlet, cafeterias, restaurants and the High Street is just a few yards away.
Barnstaple is North Devon's largest retail centre with a population in excess of 27,500 inhabitants, which is boosted during the summer months with an influx of tourists. It is the commercial hub of North Devon, serving the surrounding rural hinterland with a population in excess of 127,000.
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