42 Boutport Street, Barnstaple, Devon, EX31 1SE

The property comprises a high yielding mixed-use investment opportunity with evident asset management opportunities. Arranged as a ground floor retail unit with separately accessed upper parts across first and second floors, the property is let to the ground floor with both asset management and development opportunities. The ground floor is let to Coral on a five year lease expiring 2027 and paying £22,500 per annum. The tenant is a long standing occupier having been in occupation for over 12 years. The upper parts are separately accessed and comprise a former snooker hall and nightclub to the first floor, with a two bedroom flat to the second floor. We consider the property to have evident asset management potential via letting of the upper parts. We understand these were previously let for £20,000 per annum. We also consider the property offers conversion/development potential to alternative uses, including residential (subject to obtaining any requisite consents). The property occupies a prominent pitch with a frontage to Boutport Street, a high footfall street and one of the principal pedestrian routes in Barnstaple. The area is characterised by a mix of local and national occupiers and the Horse and Groom pub is immediately adjacent.