Summary - City Centre Car Park and Development Site, Southernhay, Exeter, Devon, EX1 EX1 1SG
1 bed 1 bath Land
Large mixed-use development plot with 150-space basement car park, city-centre location..
Edge-of-city-centre location next to Exeter Law Courts
A rare, large-scale development opportunity on the edge of Exeter city centre, immediately adjacent to Exeter Law Courts and major office buildings in Southernhay. The site includes a three-level basement car park with 150 spaces plus motorcycle and bicycle parking, and a separate development plot formed by the ground-floor slab of the Premier Inn. The car park is being offered at offers over £3,000,000; bids are invited separately for the development site and the assets can be sold together or individually.
This is a strong opportunity for investors or developers targeting central mixed-use schemes: the location delivers excellent footfall, fast broadband and very low local crime, with strong access to city amenities and high-quality nearby schools. The long lease (999 years from March 2016, c. 990 years remaining) gives secure tenure, but the assets are leasehold and will be subject to the lease terms and any existing site constraints.
Buyers should factor in planning and construction considerations: the development plot is formed by the existing ground floor slab of a hotel, which may simplify or constrain rebuild options depending on planning and structural condition. The surrounding area is classified as very deprived, which may influence end-use choices and rental rates; the site suits investors, hotel operators, or mixed-use residential/commercial schemes prepared to work through planning and market positioning.
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