High Street, Crediton

Huge potential in this large and prominent mixed-use property with 2 potential shop units, 3 bedroom apartment, further rental income from outbuildings and a large garden / allotment

This is a mixed commercial and residential property located on Crediton High Street which would suit a range of buyers as either an excellent opportunity to live in and run a business from or as an investment property with a great potential yield.

COMMERCIAL : The shop has been run as a Pet Shop for many years until a retirement closure and is now offered with vacant possession. The shop has excellent frontage onto the High Street with a front retail area, rear shop and basement for storage. There’s a covered walkway to the side which can be used to access the remainder of the property including a WC (can service shops and outbuildings). The rear of the shop was used as a dog grooming room with a separate entrance (via covered walkway) so it could be incorporated into the main shop or let as a separate unit. There is a covered “pen” to the rear of this too. The layout and options to access different parts of the property mean that there is further income potential to the rear. There is a useful studio/conservatory with patio area and this would make an ideal studio or workshop to let as an addition. There is also a workshop which again could be let to generate income.

RESIDENTIAL : The apartment is large and presented over 3 floors with access from either the shop or via the external staircase into the kitchen. The room proportions are large and light with 3 double bedrooms, bathroom a living room and a kitchen/dining room overlooking the rear garden.
GARDEN : Depending on the desired use, there is a large garden to the rear with the outbuildings and beyond is an elevated further area of garden which has views over the town and is a haven away from the High Street. There is further income available here too with plenty of local residents living in the High Street wishing to have some outside space.

ESTIMATED INCOMES : As the property has been used and occupied as one, these are anticipated rentals only:
Main Shop - £6600 per year (£550 pcm)
Apartment - £8400 per year (£700 pcm)
Rear shop - £3000 per year (£250 pcm)
Studio and patio - £900 per year (£75 pcm)
Workshop - £900 per year (£75 pcm)
Garden/Allotment - £600 per year (£50 pcm)

In total this gives a potential annual income of £20,400 per year.

AGENTS NOTES : Although the shop and apartment have been run for a number of years as live in accommodation for the proprietors of the Crediton Pet Shop, there is plenty of scope to generate further income by renting the shops as two units, the apartment, a garden studio, workshop and allotment.

Please see the floorplan for room sizes.

Council Tax for Apartment: B
Rateable value: £6300 (please note this isn’t what is payable, it’s used to calculate the bill).
Utilities: Mains water, electric, gas, telephone & broadband
Fastest broadband speed within this postcode: Up to 67Mbps
Drainage: Mains drainage
Heating: Gas fired central heating
Listed: No
Tenure: Freehold

DIRECTIONS : The property will be found on Crediton High Street, by the crossing at the top of North Street.

CREDITON : An ancient market town, with a contemporary feel – only a short, 20-minute drive NW from the city of Exeter. Set in the Vale of the River Creedy, amongst gentle, rolling hills and verdant pastures. Sincerely picture postcard. Once the capital of Devon, Crediton is famed for its inspiring sandstone church and for being the birthplace of Saint Boniface in 680 AD. Its high street is a vibrant place, abuzz with trade –artisan coffee shops, roaring pubs, a farmers’ market and bakeries, jam-packed with mouthwatering delights. For those commuting it has hassle free transport links into Exeter and for schooling a prestigious community college (Queen Elizabeth’s) – with an Ofsted “outstanding” sixth form. In addition, it boasts a brilliant gym & leisure centre for New Year’s resolutions, two supermarkets for the weekly shop and a trading estate for any practical needs. All neatly held in a single valley.

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