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Retail/Shop For Sale Exeter
PROPERTY ID: 139259
PROPERTY TYPE
Retail/Shop
STATUS
Available
SIZE
2,555 sq.ft
Key Features
Property Details
Mixed Use Shop Investment Comprising Retail Unit On Ground Floor Plus 6 Rooms For Commercial Uses On Upper Floors
Prominent Trading Position In Popular And Affluent Town On Edge Of Exeter
Strong Ground Floor Tenants - Day Lewis Plc
Approx Passing Rent From July 2025 £45,390 Once Fully Let
Upper Floors Comprise Small Business Centre With 6 Individual Lettable Rooms
Topsham Is A Small Town On The Edge Of The City Of Exeter And Overlooking The River Exe Estuary. It Has A Resident Population Of Circa 5,000 And Is Situated About 4 Miles From Exeter Served By A Regular Bus And Train Service.
The Town Is Both An Affluent Residential Area And A Popular Visitor Destination With A Range Of Independent Retailers, Pubs, Restaurants And A Museum.
There Is On Street Parking And Two Pay-and-display Car Parks Close By.
The Property Comprises A Grade Ii Listed Three Storey End Terraced Period Building Arranged As A Ground Floor Retail Unit Plus Separately-accessed First And Second Floors Which Are Fitted Out As A Business Centre With Six Rooms.
The Ground Floor Shop Has Traded As A Pharmacy For Over 200 Years Being One Of The Oldest Pharmacies In The Country And Is Currently Let To Day Lewis Plc.
The Six Rental Rooms On The First And Second Floors Are Mostly Rented By Therapy And Wellbeing Businesses, And One Is Currently Vacant. The Rooms Are Separately Metered For Utilities And Separately Assessed For Rates. The Tenants Have Shared Use Of Kitchen, Wc And Shower Facilities.
The Property Includes A Sizeable Enclosed Rear Garden.
Proposal
The Freehold Interest, Subject To The Existing Tenancies, Is Available At A Guide Price Of £550,000.
Vat Is Not Chargeable To The Purchase Price.
Each Party To Bear Their Own Legal Costs In The Transaction.
Ground Floor Shop = C69
Upper Floors = D81
Day Lewis Plc Hold A Lease For A Term Of 15 Years From 7th July 2017 On An Internal Repairing Basis To Include The Shop Front And A Maximum Contribution Of £500 Pa Towards External Repairs And Maintenance. The Landlord Insures The Building And Recovers The Fair Proportion From The Tenant.
The Passing Rent Is £16,590 P.a And Reviewed 4 Yearly In Line With Rpi With The Next Review July 2025. This Is To Increase To A Minimum Of £21,500 P.a.
The Upper Floors Rooms Are All Held On Individual Tenancies At Will And Provide A Net Rental Income (after External Management Fees And Cleaning) Of Approx. £23,800 P.a. (once Suite No.5 Is Let And The Upper Floors Are Fully Income Producing).
This Will Produce A Rental Income From July 2025 Of Approximately £45,390 P.a.
About the Agent
Stratton Creber Commercial - Exeter
See Agent's Other PropertiesRetail Unit
£550,000 Freehold
18 Fore Street, Exeter, EX3 0HE
Retail/Shop -
Available
2,555 sq ft
237 sqm
Enquiry Form
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