Block of flats for sale in Gandy Street, Exeter EX4

Musgrave House is a substantial mixed-use property which is divided into two parts: A two-storey commercial building on the western side to Gandy Street comprising three occupiers (Bang and Olufsen, The Hair Boutique and Jessica Rose Aesthetics), and a four storey residential block to the eastern side comprising nine one-bedroom flats.

Musgrave House occupies a prominent and central position immediately at the rear of the High Street in Musgrave Row being situated between Gandy Street and Exeter Library.

Haarer Goss has been instructed to market the residential flats with the current owner retaining the retail units.

The residential element of Musgrave House has its own self-contained access from Musgrave Row. The ground floor comprises a spacious entrance lobby with a plant room and services cupboard as well as an externally accessed refuse store. There is a redundant passenger lift which has not been in use for some years, but it is believed the lift could be replaced and the lift shaft utilised again. There is also a small mezzanine room which used to provide toilet facilities when the building was an office, but this area has not been used since the property was converted to flats in 1999. These former toilets may provide useful ancillary storage space for bins or bicycles. The first, second and third floors each provide three, one-bedroom flats. This residential block needs refurbishing throughout but provides an exciting redevelopment opportunity in the city centre.

Musgrave House is held on a 125-year lease expiring 2126 from Exeter City Council at a peppercorn rent and it is the intention to split and sell off the residential block by way of an underlease. Vacant possession of the flats will be provided on completion.