Retail premises for sale in 5 Iron Bridge, Exeter, Devon EX4

Commercial property investment

Ground floor shop

City centre location

Yield: 6.93%

Rental income: £6,000 p.a.

The property is situated on Iron Bridge located at the cross roads where North Street and Paul Street meet, a short distance from the High Street and Queen Street.

5 Iron Bridge is in the centre of a small terrace between City Gate Hotel and Smith and Denning Hair Education. There are also a number of independent businesses close by including estate agents, and beauty therapists, and physio therapists.

The property is close to Exeter Central Train Station (500 meters), regular bus routes, and a number of pay and display car parks.

The property comprises a four storey, Grade II Listed mid terrace commercial building, with one commercial property on the ground floor, three flats above and one on the lower ground floor.

The ground floor is currently tenanted to Re-Style Barbers. The premises is well presented, comprising two interconnected rooms and a WC which is accessed via a shared hallway.

Accommodation
The ground floor barbershop has the following approximate floor areas:

24.68 sq m / 266 sq ft.

Guide Price
The 999 year long leasehold interest and 1/5 of the freehold is offered to the market at a:

Guide Price: £85,000 reflecting a net initial yield of 6.93% after normal purchasers costs.

VAT is not applicable.

Both parties to bear their own legal costs in the transaction.

An EPC is available from the agents.

The ground floor has been let to Re- Style Barbers for a term of 10 years from 2022 at a rent of £6,000 per annum. The tenants have an option to break at year 5.

Price: £85,000 (999 year long leasehold plus 1/5 of the freehold)