gs

Alex

sellertype

Private

Posted

6 days ago

description

A well-presented retail space is available for rent in Great Torrington, offering a bright and airy atmosphere with large front windows that provide ample natural light. The shop comes equipped with CCTV and a cable window display system, left by the previous tenant, which can be utilized for advertising purposes. Situated in a prime location, surrounded by restaurants, cafés, mini markets, and vintage stores, this property offers excellent visibility and foot traffic. It presents an ideal opportunity for those looking to establish a new business or expand an existing one.

7A South Street, Great Torrington, Devon, EX38 8HE

Retail area ~ 30 square metres

EPC: E

Rent : £75 per week
Rent payable monthly in advance

Deposit: £700.00 (NO VAT)

Business Rates: £2,425*
*Note: These are not rates payable. Rates are low enough to qualify for full small business rates relief, and therefore you shouldn't have to pay anything.


We can be flexible on lease length. Typically our tenants want a long lease. We are willing to offer a 6 year 11 month lease (this keeps it under the 7 year threshold where you need to register the lease with the land registry and pay stamp duty). Shorter leases offered if you prefer.

Leases are within the 1954 Act. This means you have the right (not obligation) to a similar lease upon expiry. Therefore you effectively have the option of twice the term length.

We are happy to offer a tenant only break clause after year 2 or year 3. This means if you decide this property wasn't the right decision or if you decide you no longer want it, you can end the lease early (on the break date, with 3 month's notice). If the business is doing well, you can stay for the full term. We cannot decide to break the lease early.

Leases are fully assignable. This means if you build up the business and wish to sell it on at a premium, this would be allowed (to a suitable tenant).

Leases are fully repairing and insuring (FRI). This means all maintenance and repairs will be the tenant's responsibility for the duration of the lease. We insure the building under our large block policy which gives us favourable rates, and then we recharge the annual premium to you (this can be paid in instalments).

No premiums or agent fees or legal fees charged to you. Total ingoings to us are the initial rent deposit and first month's rent. You will obviously also need enough to decorate and stock the property etc. This is wholly your responsibility. We have no say in how you run your business. We are simply landlords of the property.

Please give me a call/message to discuss further or if you would like to arrange a viewing.

location

Torrington, Devon