Property photos
£115,000
(£190.71/sq. ft)
Property for sale
32 Rolle Street, Exmouth, Devon EX8603 sq. ft
Available immediately
Local area information
Property location
Nearby amenities
- The Beacon Church of England (VA) Primary School 0 miles
- Exeter Road Community Primary School 0.3 miles
- Exmouth 0.3 miles
- Exmouth Ferry Landing 0.5 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Exmouth to find out more about the local area.
Features and description
- 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.
More information
Listed by
Stratton Creber Commercial
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