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FREEHOLD SHOP UNIT
The Boutport Street premises is owned by Philip Milton, prospective member of parliament for the Conservative Party in North Devon who has owned Doves Christian Bookshop since 1988 and is pleased with the new completely redecorated and improved premises in Church Lane. Philip holds an exciting vision for the premises and commented "we have enjoyed our many years in Boutport Street but through our new location, I am convinced we can create a vibrant community enterprise in the heart of the town and from which other activities will emanate." The Boutport Street property provides an interesting town centre premises giving retailers, investors and owner occupiers the opportunity to acquire a freehold opposite the town's High Street. The shop provides main showroom / retail area with mezzanine level for further retail, storage and display space. The premises has been reduced in price to £230,000 with the details being obtainable from Cowling Commercial on 01271 375555. Viewings can also be arranged at short notice as the premises are vacant and available for immediate possession, if required. ----------------------------------------------------------------------- TIMES HAVE CHANGED On a recent discussion with Mark Cowling of Cowling Commercial, we were able to get an overview of the current commercial property market. As one of the largest firm's in the West Country, specialising in commercial property, finance and planning, Cowling Commercial were happy to forward their opinion. Managing Director, Mark Cowling, says, “The market has changed. The market is in transition. A lot of agents do not know how to respond to the current market. Whilst there are sectors in the market which have been devastated, we are still conducting business”. Mark further adds, “The good thing about our industry is that people need income and they need business premises from which to operate their concerns. So lettings of all commercial property are still proving to be fairly good, the sale of small businesses is also reasonable, as several people are looking to change direction once a depressed market starts. The people seem to get to a certain age in life and want to move away from the traditional employment which has been their slave for so many years. The leisure sector is probably the hardest hit and any part of the industry which requires a residential property sale before a deal can be completed, is experiencing harder times.” Mark believed that investors are still keen to acquire properties with income. Yields have moved out slightly, but nevertheless interest rates are still poor and returns in the Stock Market seem more volatile than the property business. Mark considers that as a nation, we like property, we like ownership and property seems a very tangible asset, so of course we are looking forward to a better market but rising to the challenge in a difficult one. Our planning department is always busy. The planning process is long and arduous with many potential pitfalls and hurdles to get over. Several clients look at obtaining planning approvals to add value to their estates, as Planning Consultants we are receiving a high level of work for this time consuming but potentially highly rewarding sector of the market. In terms of finance, this in-house department, Cowling Commercial Finance Ltd, has also seen some downturn, but generally the Department is always busy. The Finance business is infinite. There are always people all over the country looking to us to procure loans for purchases. Only this week we have secured business on a hotel group, a climbing shop, several bars and hotels. Development finance is also still available and fine rates can still be achieved if a loan is well secured. It is a myth that banks are not lending, criteria has changed but banks are still lending. For more information and any commercial property advice, call Cowling Commercial who are situated on The Strand in Barnstaple on 01271 375555. ----------------------------------------------------------------------- SUBSTANTIAL ROADSIDE PUB WITH LETTING The Wrey Arms, Sticklepath, Barnstaple is available for purchase via Cowling Commercial. Cowlings are promoting the property as a substantial public house with main bar/dining areas, games room housing 3 darts oches, 2 pool tables and a skittle alley. There are 9 En Suite Letting Rooms, which are regularly let out. The pub is located close to North Devon College and the Crematorium, both offering a substantial amount of business; namely lunchtime trade from the college students and Wake Buffets. The business hosts 5 skittles teams, 3 darts teams, 4 football teams, 4 euchre teams and 4 pool teams. T/O for the last year was £436,998. The lease is a favourable Whitbread (old Laurel) lease and is free of tie on wines and spirits and gives the lessee 100% of the machine income. Offers are invited in the region of £174,950 leasehold. |
