48-49 High Street, Exeter EX4 3DJ

  • Price £1,340,000
  • Yield 7%
  • Income £100,000
  • Sector Retail

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
Contact
Ben Lewis
Email: benlewis@lewisandpartners.com
Mobile: 07887 553 674