Property for sale

Main Road, Exminster, Exeter EX6

An exciting opportunity to acquire the freehold of a prominent mixed-use property situated in the heart of the popular village of Exminster, on the outskirts of Exeter. Occupying an enviable position amongst the village's established amenities and local businesses, the property provides a particularly attractive combination of commercial and residential income, offering investors diversification from three separate rental streams.

The ground floor comprises two commercial units, currently occupied as offices by professional businesses and let on long leases with 10-year rights to renew on a Full Repairing basis.

Above the commercial accommodation is a well-presented three-bedroom apartment, providing generous and versatile living accommodation throughout together with the highly desirable addition of a private roof terrace garden. The apartment also has its own separate entrance on Deepway Lane.

The apartment is currently let, providing a further established income stream.

The property therefore offers an appealing combination of secure existing income, a diverse tenant profile and freehold ownership, making it an attractive proposition for private investors, property companies, pension investors and owner-occupiers seeking an investment with residential and commercial components. The building comprises three separately income-producing elements:

Tenancies

Unit 1 - Commercial. A ground floor commercial office unit currently occupied by a professional business.

Unit 2 - Commercial. A further ground floor commercial office unit, also occupied by a professional business.

First Floor - Three-Bedroom Apartment. A spacious and beautifully presented three-bedroom residential apartment occupying the upper floor. The apartment is in excellent condition and offers well-proportioned accommodation throughout, providing a comfortable and desirable residential environment. A particular feature is the private roof terrace garden; an unusual and highly attractive outdoor space which adds significant appeal to the accommodation. The apartment is currently let.

Location

The property occupies a prominent position within Exminster village centre, surrounded by an established mix of local shops, services and businesses. The village provides a convenient range of day-to-day amenities, including a local Tesco, cafés, hair and beauty services and other independent businesses. The central retail area is an established focal point for the local community.

Exminster benefits from its proximity to Exeter, whilst retaining the character and convenience of a well-established village community. The village's central facilities and walkable retail offering provide an excellent setting for both the commercial occupiers and the residential apartment.

Accommodation

All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) on a net / gross internal basis.

Ground Floor Unit 1 (Levels): 459 sq ft (42.65 sq m)
Ground Floor Unit 2 (East of Exe): 567 sq ft (52.68 sq m)
First floor flat: 872 sq ft (81 sq m)
Total: 1,898 sq ft (176.33 sq m)

Planning

The amended use classes would mean the ground floor could be used for E class uses which includes retail, cafe/restaurants. Please enquire for further information.

Rent / Price

The freehold investment is avail7.93%able at Offers in Excess of £350,000 which reflects 7.93% niy (taking purchasers costs at 3.8%).

Business Rates

From the Valuation Office Agency website () we understand that the current Rateable Value is:
Unit 1 = £6,400
Unit 2 = £7,000

Services

We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

Ground floor commercial units - C (60)

First floor flat D (67)

Legal Fees

Each party to be responsible for their own legal fees in relation to this transaction.

VAT

All figures quoted are exclusive of VAT if applicable.