Merchants House 3 Barley Market St 1,948 sq ft 100% Let Retail Property Tavistock PL19 0JF £725,000 (£372.18/sq ft) 11% Net Initial Yield

The premises are offered Freehold subject to the occupational leases at £725,000 reflecting an initial gross yield of some 11% .
The premises comprise a substantial linked building of traditional construction that was originally a bakery. Its has been converted over the years to its current layout comprising four ground floor shop units and 12 residential units above. There is some additional space to add to this.
The premises currently produce some £80,000 but some of the residential units are due a rent increase. Three of the shops have been let recently and the fourth is due for renewal. They generate some £35,880 per annum. Five of the flats are sold off on long leases with the other seven income generating. Full details are being compiled, and details will be available shortly.
The building has undergone upgrades recently to comply with a Fire Risk Assessment and it is believed all major issues have been complied with.
This opportunity represents an excellent opportunity to acquire a substantial property with scope to add value in a popular and affluent market town in West Devon.
The premises are located in a prominent position fronting Barley Market Street in the heart of Tavistock Town Centre and close to the main shopping area. The surrounding area is a mix of commercial and residential uses.