Northbank House, North Road, Bideford, Devon, EX39 2NR

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Property Type

Office

Tenure

Freehold

Type

Commercial

Bidder Security Deposit

£3,500*

Property Summary

Freehold office building of approximately 1,499.00 sq m (16,140 sq ft)
Ground floor let to Job Centre until 2031
Vacant first, second & basement floors 920.94 sq m (9,913 sq ft)
Site area 0.35 hectares (0.86 acres)
Car parking for 25-30 vehicles

Re-letting/development potential
Producing £49,874 per annum (Plus vacant first, second and basement floors)

Freehold town centre office building on a site of 0.35 hectares (0.86 acres) part let to Job Centre producing £49,874 per annum. Potential letting/redevelopment opportunity, subject to consents.

Description

The property comprises a three storey office building of approximately 1,499.00 sq m (16,140 sq ft) on a site of 0.35 hectares (0.86 acres) with secured car parking for approximately 25-30 vehicles. There is a single storey annex building which connects at ground floor level to the main building with the entire premises having a GIA 1,668 sq m (17,955 sq ft).

The offices are arranged as open plan with some cellular offices. The ground floor comprises main open plan offices, interview rooms and staff room linked to a single storey annex and toilet facilities with a floor area of approximately 578.00 sq m (6,224 sq ft). The first and second floors comprise mainly open plan office with some cellular offices, male and female toilets, and kitchens of approximately 866.00 sq m ((9,322 sq m) with views over the town centre and towards Bideford New Bridge and the River Torridge. The basement comprises plant room and storage of approximately 55.00 sq m (596 sq ft).

The offices have gas central heating, dado trunking and ceiling fitted diffuser lighting. There is a security barrier at the entrance to the car park from North Road. To the rear of the property is a walled garden area.

Location

Bideford, with a population of 32,000 is a historic port town on the estuary of the River Torridge and the second largest town in north Devon. The town lies within three miles of some well-known North Devon locations such as Appledore, Westward Ho!, Instow and Northam, and only nine miles from the commercial centre of Barnstaple. The property is also within a 30 minute drive of Exmoor National Park and the beaches around Woolacombe, Croyde and Saunton.

The property is situated within the town centre on North Road and a short level walk to the High Street and quayside area. North Road is on the edge of the town’s main retail area being Mill Street which connects to Bridgeland Street and the High Street. The surrounding area has undergone considerable investment in recent years including mixed residential and commercial development schemes close by.

Tenancy Schedule

Address	Floor	Use	Sq M	Sq Ft	Tenant	Tenancy	Rent (£ pa)

Northbank House	Ground	Office	578.00	6,224	Job Centre (1)	10 years from 01/04/2021	£49,874
	Basement	Plant / Storage	55.00	596	Vacant
	First	Office	432.00	4,649	Vacant
	Second	Office	434.00	4,671	Vacant
Total			1,499.00	16,140			£49,874

Planning

There could be potential to convert the first and second floors for alternative use, or to redevelop the wider site, subject to possession and any necessary consents.

Local Planning Authority
For further information contact Torridge District Council (01237 428700) www.torridge.gov.uk.

Note

(1) There is a tenant’s only break option at the end of year 5, and we understand the tenant hasn’t exercised their option.

Additional Information (EPC, Council Tax & VAT)

EPC Rating

Ground Floor – D
First/Second Floors - C

VAT

VAT is payable

Disclaimer*

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