Prime City Centre Retail Investment Opportunity

Summary

• Located in Exeter, a historic Cathedral and University City located in the southwest of England, the main commercial centre for Devon
• The property occupies a 100% prime position on Exeter’s pedestrianised High Street.
• Freehold
• Attractive mid-terrace, retail unit fronting the High Street arranged over basement, ground and three upper floors
• The basement, ground and first floors are let to Washington Green Retail Limited T/A Castle Fine Art
• Current passing rent is £100,000 per annum
• Seeking offers in excess of £1.34M (One Million Three Hundred and Forty Thousand Pounds) for the freehold interest in the property
• A purchase at this level reflects a net initial yield of 7%, after allowance for unadjusted purchaser’s costs of 6.8%
• Potential to convert the second and third floors to residential or student subject to the necessary consents. We understand that residential values in the City centre are in excess of £350 per sq. ft