Fore Street, Budleigh Salterton, EX9

Detached 3 bed house with panoramic sea views Two income producing shops with new maisonette above, parking

and garages Planning consent for new 4 bed house to replace existing

INVESTMENT SUMMARY:

* Mixed use freehold investment.

* Rare opportunity to purchase a detached 3 bedroom house with uninterrupted sea views.

* Part income producing detached building on the front of Fore Street comprising 2 ground floor shops and new self-contained maisonette above.

* 3 garages and private parking.

* Planning consent for demolition of existing house and a new modern

* 4 bedroom principal residence with sea views

* House currently let on an assured shorthold tenancy at £26,000 per annum.

* 2 shops let at a total combined income of £13,500 per annum.

* Vacant maisonette with ERV of £14,400 p.a.

* Available separately or as a whole:

1. The house with garages and benefit of Planning Consent for a new 4 bedroom house.

2. Two shops and maisonette above.

LOCATION:

The property is situated within the heart of the town centre with the shops and offices fronting Fore Street and Forelands the detached house overlooking the beach and sea. Budleigh Salterton is a popular and highly sought after seaside town approximately 15 miles south of Exeter and situated within an area of outstanding natural beauty.The town benefits from a good range of shopping facilities, a health centre, churches, library and museum. The Cathedral city and county town of Exeter lies approximately 15 miles in a westerly direction with Junction 30 linking to the M5 motorway and two mainline railway stations making it ideal for commuting. The area is well favoured with local schools of a high reputation and several well patronised golf courses readily accessible.

DESCRIPTION:

14, 14A & 14B FORE STREET

The property was a former Police Station with ancillary living accommodation constructed in the middle of the last century. The accommodation is arranged on ground, first and second floors and traditionally constructed of brick cavity walls beneath a pitched tiled covered roof. Single storey back additions have a flat roof section behind the parapet walls.

The Tourist Information office relocated in October 2019 to the adjoining ground floor shop by way of a new lease and their shop was subsequently let to Sarah Dunn & Co trading as a residential letting and property management business.

The first and second floors are accessed by a separate ground floor entrance from the rear and comprise newly converted 2-bed maisonette with kitchen, bathroom and occasional bedroom/office.

There is parking for 3 vehicles and 3 garages to the rear with vehicular and pedestrian access through a side passageway running been part of the first floor. There is a pedestrian right of access existing over the rear yard in favour of the

adjoining property (highlighted in blue on the attached OS Plan).

FORELANDS, 12A FORE STREET

'Forelands' is a well presented detached house with a unique position enjoying panoramic coastal views over the beach and Lyme Bay. The main accommodation comprises 3 bedrooms (1 ground floor), 2 reception rooms, kitchen, sun balcony, bathroom, utility room and separate w/c.

Outside there is a good sized rear garden which is on the level and has a southerly orientation and provides direct access to the coastal path. Gas fired central heating and double glazing are installed throughout and all main services are connected.

TENANCIES:

14 FORE STREET (TOURIST INFORMATION CENTRE)

Let to Budleigh Salterton Tourist information Centre Limited for a term of 5 years from the 1st October 2024. The passing rent is £6,500 per annum and subject to review on a 3 yearly basis. The lease is drawn on an internal basis and the tenant contributes 20% towards service costs and building insurance. Alienation is permitted on both the assignment and subletting of the lease. There is a tenant break at third anniversary.

14 FORE STREET (GARY WILLIAMS & SARAH DUNN)

Let to Gary Williams and Sarah Dunn for a term of 7 years from 12th December 2020. The passing rent is £7,000 per annum and subject to review on a 5 yearly basis. The lease is drawn on an internal repairing basis and the tenant contributes 20% towards service costs and building insurance. In addition, the tenant will pay to the landlord 50% of all water charges for the building. Alienation is prohibited on both the assignment and subletting ofthe lease.

FIRST AND SECOND FLOOR NEW MAISONETTE

The accommodation is vacant.

FORELANDS, 12A FORE STREET

The property is let on an Assured Shorthold Tenancy at an annual rent of £26,000 per annum.

PROPOSALS:

Guide price: £1,350,000 for the whole property.

Alternatively consideration will be given to the sale in 2 lots:

1. House with garages.

2. 2 shops and maisonette.

VAT is not chargeable to the price.

PLANNING:

Budleigh Salterton lies within an Area of Outstanding Natural Beauty at the western most point of the East Devon Heritage Coast. The property is situated within a conservation area and identified in the East Devon Local Plan as forming part of the town centre shopping area.

Planning permission was granted (application number 23/10/19/FUL) on 1st September 2023 for the demolition of the existing house and the construction of a new build 3 storey principal residence.

Further information and full plans are available from the agents.

BUSINESS RATES & COUNCIL TAX ASSESSMENT:

Shop (Tourist Information Centre)- Rateable value: £4,250

Shop (Sarah Dunn & Co)- Rateable value: £3,400

First & Second floor (Maisonette)- Council Tax Banding D

Forelands, 12A Fore Street- Council Tax Banding: F

FLOOR AREAS:

Ground floor shops (approx. net floor area)

Tourist Information Centre 505 SQ FT 46.91 M

Sarah Dunn & Co 389 SQ FT 36.14 M

Total: 894 SQ FT 83.05M

First & Second floor maisonette

Ground floor entrance 61 SQ FT 5.61 M

First floor bedroom, bathroom, office and Kitchen. 689 SQ FT 64.0 M

Second floor bedroom and occasional bedroom/office 327 SQ FT 30.38 M

Total: 1,077 SQ FD 99.9 M

Forelands, 12A Fore Street

Ground floor kitchen, dining room, living room,

utility room, study/bedroom 3 and separate w/c 696 64.6

First floor master bedroom, bedroom 2 and

bathroom 450 41.8

Total: 1,146 106.4

Forelands 12a Fore Street & 14 Fore Street, Budleigh Salterton, Devon, EX9 6NG