Runnacleave Crescent, Ilfracombe

Mixed commercial/residential investment for sale
Busy seafront location
Shop currently let at £6,300 per annum
Two vacant apartments over
Shop circa 764 sq ft
1 x 2 Bedroom apartment
1 x 1 Bedroom apartment
2 x Parking spaces
All well-presented close to the Tunnels Beaches
Views to East and West overlooking Runnymead Gardens
Competitively priced at £285,000

LOCATION
Situated in a prominent corner location with triple aspect windows, the shop faces the Western approach to Ilfracombe seafront, not far from the renowned Tunnels Beach. It is also close to Southern Slopes Pleasure Garden and Runnymede Gardens, within a level walking distance of Wildersmouth Beach, and approximately three-quarters of a mile from the harbour. This prime positioning ensures excellent visibility and passing trade.

Ilfracombe, often referred to as the "Jewel in the Crown" of this majestic coastline, boasts stunning clifftop walks and numerous beaches. The town has recently gained additional attention with the installation of the large Verity statue by the famous artist Damien Hirst on the Pier, which attracts many day visitors. With a population of around 11,000 residents, the town sees a significant increase in numbers during the holiday season. This property is in a conservation area.

THE PROPERTY
With separate access from the side to the upper floors the property provides a centrally heated 1 bedroom apartment on the first floor and a 2 bedroom apartment above. Fine views are enjoyed from the flats to the Torrs walk in the west and over the seafront pleasure gardens to the east. The ground floor shop offers about 764 sq ft of space and is now split into three therapy rooms and a reception area plus cloakroom and small store. The whole now operates as a Wellness Centre. Adjoining the shop the property has a valuable brick paved parking area for two cars back to back, with a fenced boundary.

TENURE
We are offering the building for sale as a freehold, with the ground floor lock-up currently set with a 5 year lease which commenced in 2025. At a monthly rent of £525 (£6,300 per annum).

AGENTS NOTE
The current owners will be offering the upper floors with vacant possession and may provide furnishing at an extra cost if required. The apartments are currently being used as self-contained holiday accommodation to guests visiting the area or attending nearby wedding venues. Alternatively, the apartments could be let on a residential shorthold tenancy agreement, subject to statutory obligations. This is a great investment opportunity with guaranteed rental income from the shop below and potential high earning rentals from the two apartments over.

SERVICES
All mains connected. We encourage you to check before viewing a property the potential broadband speeds and mobile signal coverage. You can do so by visiting https://checker.ofcom.org.uk

VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.

VIEWING
Strictly by appointment through the selling agents.

RATEABLE VALUE   
£6,800 for the shop £1,950 for the 2nd floor flat 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.

COUNCIL TAX BAND               
A - First Floor Flat.

LEGAL ADVICE
We strongly recommend that a buyer 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 buyer 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 buyer's responsibility.

From the Webbers office in Ilfracombe turn left and at the next traffic lights turn left down Northfield Road towards the seafront. At the next traffic lights at the bottom of the road turn right and pass the Osborne Hotel and within two hundred yards the premises can be found opposite at the junction of Runnacleave Road.