Property photos
£119,500
(£176.25/sq. ft)
Retail premises for sale
Fore Street, Exeter EX4678 sq. ft
Local area information
Property location
Nearby amenities
- St David's CofE Primary School 0.3 miles
- Exeter Cathedral School 0.3 miles
- Exeter St Thomas 0.3 miles
- Exeter Central 0.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Exeter to find out more about the local area.
Features and description
- City Centre Investment Premises
- Recent 5 year lease at £9,075 pa
- Located in the busy West Quarter of the City
- Vibrant range of other independent retailers
Situation and description
The premises are prominently positioned in Fore Street, leading off the High Street in the centre of Exeter. The main shopping area of Princesshay is a short walk from the property, with the large Cathedral and Quay car park in close proximity. Fore Street and the surrounding retail area has a mix of occupiers including retail, Office and café / Restaurant uses. Exeter is a University City steeped in history being the capital city and county town of Devon and has firmly established a reputation of being the commercial centre for the South West. The city has a population of approximately 120,000 with a ‘drive to work’ population of some 480,000 within a 45 minute catchment area. Exeter has a mainline railway station (London – Paddington) and an international Airport. The property offers a spacious retail area with good window display, and a rear sales or stock room to the rear with kitchen and toilet facilities.
Accommodation
Brief details of the accommodation, with approximate maximum internal dimensions are as follows: -
Retail Area 11.19m x 4.01m (36’9” x 13’2”) max
Approached from Fore Street via a glazed entrance door with generous glazed display window. Power and lighting as fitted.
Leading from this area to the rear is a …….
Rear Retail / Stock Area 4.09m x 3.58m (13’5” x 11’9”) max
Useful retail area but could also be used for storage.
Leading off this area is a …….
Kitchen 2.27m x 1.87m (7’5” x 6’2”) max
Fitted with a range of base units with worktop and inset stainless steel sink unit with single drainer. Space for dishwasher under. Tiled splashback. Shelving as fitted.
Toilet
Low level WC suite with wash hand basin. Window.
Rates
Rateable Value: - £10,250 (2023 valuation)
We understand that qualifying businesses could benefit from a rate reduction of up to 100% under the Small Business Rate Relief scheme. To see if you or these premises qualify for this discount, please contact Exeter City Council on .
Tenancy
The premises are currently let to Zer0 Limited from the 1st October 2024 on a 5 year effective Fri lease by way of service charge to expire on the 30th September 2029 at a rent of £9,072 per annum.
We understand that the lease is contracted outside of the security of tenure provisions of the Landlord and Tenant Act.
Price and tenure
Offers are sought on a guide price of £119,500 for the remainder of 999 year lease from the 1st January 2006 of this well located ground floor Retail premises, subject to and with the benefit of the tenancy as above. This will offer an investor a gross return of 7.6% before purchase costs.
Energy performance certificate
An EPC has been obtained, a summary is below, the full version is available to download from the web site. The rating is: D 78
Legal costs
Each party to bear their own legal costs in this transaction.
Services
Mains water, drainage and electricity are available to the property.
Anti money laundering regulations compliance
A successful purchaser will be required to provide proof of identity and address, plus proof of funds to satisfy the Anti Money Laundering requirements when Heads of Term are agreed.
Viewing
Strictly by prior appointment only with the sole agents, for the attention of Tony Noon Ref (0833)
The premises are prominently positioned in Fore Street, leading off the High Street in the centre of Exeter. The main shopping area of Princesshay is a short walk from the property, with the large Cathedral and Quay car park in close proximity. Fore Street and the surrounding retail area has a mix of occupiers including retail, Office and café / Restaurant uses. Exeter is a University City steeped in history being the capital city and county town of Devon and has firmly established a reputation of being the commercial centre for the South West. The city has a population of approximately 120,000 with a ‘drive to work’ population of some 480,000 within a 45 minute catchment area. Exeter has a mainline railway station (London – Paddington) and an international Airport. The property offers a spacious retail area with good window display, and a rear sales or stock room to the rear with kitchen and toilet facilities.
Accommodation
Brief details of the accommodation, with approximate maximum internal dimensions are as follows: -
Retail Area 11.19m x 4.01m (36’9” x 13’2”) max
Approached from Fore Street via a glazed entrance door with generous glazed display window. Power and lighting as fitted.
Leading from this area to the rear is a …….
Rear Retail / Stock Area 4.09m x 3.58m (13’5” x 11’9”) max
Useful retail area but could also be used for storage.
Leading off this area is a …….
Kitchen 2.27m x 1.87m (7’5” x 6’2”) max
Fitted with a range of base units with worktop and inset stainless steel sink unit with single drainer. Space for dishwasher under. Tiled splashback. Shelving as fitted.
Toilet
Low level WC suite with wash hand basin. Window.
Rates
Rateable Value: - £10,250 (2023 valuation)
We understand that qualifying businesses could benefit from a rate reduction of up to 100% under the Small Business Rate Relief scheme. To see if you or these premises qualify for this discount, please contact Exeter City Council on .
Tenancy
The premises are currently let to Zer0 Limited from the 1st October 2024 on a 5 year effective Fri lease by way of service charge to expire on the 30th September 2029 at a rent of £9,072 per annum.
We understand that the lease is contracted outside of the security of tenure provisions of the Landlord and Tenant Act.
Price and tenure
Offers are sought on a guide price of £119,500 for the remainder of 999 year lease from the 1st January 2006 of this well located ground floor Retail premises, subject to and with the benefit of the tenancy as above. This will offer an investor a gross return of 7.6% before purchase costs.
Energy performance certificate
An EPC has been obtained, a summary is below, the full version is available to download from the web site. The rating is: D 78
Legal costs
Each party to bear their own legal costs in this transaction.
Services
Mains water, drainage and electricity are available to the property.
Anti money laundering regulations compliance
A successful purchaser will be required to provide proof of identity and address, plus proof of funds to satisfy the Anti Money Laundering requirements when Heads of Term are agreed.
Viewing
Strictly by prior appointment only with the sole agents, for the attention of Tony Noon Ref (0833)
More information
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