£115,000
(£190.71/sq. ft)
Property for sale32 Rolle Street, Exmouth, Devon EX8
603 sq. ft
Available immediately
About this property
Freehold income producing investment property
Ground floor shop let with sold off flat above
Popular central trading position
Total rent: £8,300 p.a.
Freehold income producing investment property
Ground floor shop let with sold off flat above
Popular central trading position
Total rent: £8,300 p.a.
The property is situated in a busy position within the heart of the town centre close to the main Magnolia Shopping Centre. There are a variety of both independent and national traders nearby.
Exmouth offers a various range of shops, schools, restaurants and leisure activities along with miles of sandy beaches and access to the Jurassic coastline.
Exmouth is very accessible by road being just 8 miles south of the M5 and benefits from its own railway station providing regular services to Exeter linking with Bristol, London and national links. The town has a population of approximately 34,000 and a catchment population of 132,000. The town has an all year round trade and benefits from an influx of tourists in the summer months.
The property comprises a period mid-terraced town centre property with ground floor shop and sold off flat above.
Accommodation
The shop comprises the following approximate floor areas:
Ground floor shop: 603 sq ft (56 sq m)
The freehold is available at a guide price of £115,000 showing a return of 7.03%.
VAT is not chargeable to the purchase price.
Both parties to bear their own legal costs in the transaction.
An EPC is available for this property and the rating is D/94,
The property is being sold with the benefit of a lease of the ground floor shop to William Highbourne Wealth for a term of 6 years from 12th September 2020 drawn on a contributory full repairing and insuring basis at a rent of £8,250 per annum. The rent was reviewed at the third year of the lease anniversary.
There is a tenants option to break on the 12th September 2022 and a rent review on the 12th September 2023. Neither break options were exercised.
There is also a tenants option to break on the 11th September 2024 which has not been exercised.
The maisonette on the upper floors has been sold off on a long lease for a term of 99 years from 14th March 2000 (expiring 13th March 2099) at a ground rent of £50 per annum.
Ground floor shop let with sold off flat above
Popular central trading position
Total rent: £8,300 p.a.
The property is situated in a busy position within the heart of the town centre close to the main Magnolia Shopping Centre. There are a variety of both independent and national traders nearby.
Exmouth offers a various range of shops, schools, restaurants and leisure activities along with miles of sandy beaches and access to the Jurassic coastline.
Exmouth is very accessible by road being just 8 miles south of the M5 and benefits from its own railway station providing regular services to Exeter linking with Bristol, London and national links. The town has a population of approximately 34,000 and a catchment population of 132,000. The town has an all year round trade and benefits from an influx of tourists in the summer months.
The property comprises a period mid-terraced town centre property with ground floor shop and sold off flat above.
Accommodation
The shop comprises the following approximate floor areas:
Ground floor shop: 603 sq ft (56 sq m)
The freehold is available at a guide price of £115,000 showing a return of 7.03%.
VAT is not chargeable to the purchase price.
Both parties to bear their own legal costs in the transaction.
An EPC is available for this property and the rating is D/94,
The property is being sold with the benefit of a lease of the ground floor shop to William Highbourne Wealth for a term of 6 years from 12th September 2020 drawn on a contributory full repairing and insuring basis at a rent of £8,250 per annum. The rent was reviewed at the third year of the lease anniversary.
There is a tenants option to break on the 12th September 2022 and a rent review on the 12th September 2023. Neither break options were exercised.
There is also a tenants option to break on the 11th September 2024 which has not been exercised.
The maisonette on the upper floors has been sold off on a long lease for a term of 99 years from 14th March 2000 (expiring 13th March 2099) at a ground rent of £50 per annum.
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