Town centre mixed use investment comprising two self-contained shops and 4 flats
Fully income producing
Popular seaside town
Passing rent: £50,340 p.a.
Two self-contained shops and 4 flats
The property is situated in a busy position within the heart of the town centre close to the Magnolia Shopping Centre where there are a variety of both independent and national traders.
Exmouth offers a various range of shops, schools, restaurants and leisure activities along with sandy beaches and access to the Jurassic coastline.
Exmouth is a popular seaside town in East Devon with a population of approximately 35,000 which benefits from a seasonal boost of tourists throughout the holiday period.
The towns two main car parks, the train station, the beach and seafront are all within walking distance.
The property comprises a mid-terraced three storey period property in an established secondary trading position within the heart of the town centre.
The accommodation provides two self-contained ground floor lock up shops and 4 self-contained flats on the upper floors.
The shops currently trade as a picture framing business and a hairdressers.
On the first and second floors there are 4 x two-bedroom flats that have been well-maintained throughout and benefit from uPVC double glazing and gas fired central heating. All flats are separately serviced and access is from Rolle Street.
Proposal
The freehold interest subject to the existing tenancies is available at a guide price of £575,000 subject to contract. This would show an investor a net initial yield of approximately 8.34% after allowing for purchasers costs.
VAT is not chargeable to the price.
Each party to bear their own legal costs in the transaction.
EPC Ratings
Shop 36: C/63
Shop 36a: D/81
Flat 1: C/71
Flat 2: C/70
Flat 3: C/76
Flat 4: C/72
See PDF details.
Key Features
- Town centre mixed use investment
- Fully income producing
- Popular seaside town
- Two self-contained shops and 4 flats
- Passing rent: £50,340 p.a.
- Guide price: £575,000
( Agency Pilot Software ref: 4457 )
