North Road, South Molton, Devon, EX36

In a highly visible trading location overlooking a private car park and facing the northern approach into the centre of the very popular market town of South Molton. The premises were purpose built in 2001 and are adjoining the One Stop Store. This busy town has a regular pannier market that hosts food days and salvage antique fayres. South Molton is expanding with many new housing developments.

South Molton is pretty market town with a population of around 5,000 people, with its town square being a hive of activity. It is easy to access from the North Devon Link Road and is about 10 miles east of Barnstaple.

THE PREMISES
A two storey lock up shop offering around 460 sq ft of retail space to the ground floor with light high windows and to the first floor a further retail area of around 200 sq ft. There is a communal lobby from which access is gained to 2 cloakrooms, an area with sink unit, a further inner hallway and office. The premises have the benefit of 2 parking spaces.

TENURE
A full repairing and insuring lease will be granted by the Landlord, ideally for 15 years with rent review every 5 years. Step rent incentive is available Year 1: £8,000 rental per annum, Year 2: £9,000 rental per annum, Year 3: £10,000 rental per annum and onwards. An incoming tenant will need to provide the usual trade/professional references, proof of ID and proof of funds with business plan. The ingoing tenant will be responsible for the building insurance. The premises would be ideal for a variety of retail uses such as an art gallery, antiques store, fashion shop or other retail uses, subject to any necessary planning consent or even may suit as comfortable offices.

AGENTS NOTE
There is to be no permitted use that may conflict with adjoining shop therefore no food sales, alcohol sales or catering use.

LEGAL ADVICE
We strongly recommend that a tenant takes independent legal advice and instructs solicitors to act on their behalf. Each party bears their own legal costs unless otherwise stated.

PLANNING
It is the responsibility of the proposed tenant to satisfy for themselves independently that their intended use complies with existing planning permission by contacting the local council planning department. The cost of any change of planning use is the tenant’s responsibility.

LEASE TERMS
All leases are on full repair and insuring (FRI) terms unless otherwise stated.

RATEABLE VALUE
£4,100 UBR, as of April 2023, 47.9p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure.
Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.