Summary - Residential Development Opportunity, St Thomas Centre, Exeter EX4 1AJ
1 bed 1 bath Commercial Development
Large first-floor conversion or income-led retail investment near Exeter city centre.
Freehold retail parade with 5,135 sq.ft (477 sq.m) first-floor accommodation
This freehold neighbourhood retail parade sits in the well-established St Thomas Centre on Cowick Street, approximately one mile from Exeter city centre. The first-floor accommodation offers 5,135 sq ft (477 sq m) of contiguous space above a parade anchored by convenience retail, with good roadside visibility, a customer car park and direct access to public transport links including the local railway station.
The asset is suited to a commercial-to-residential conversion, multi-unit residential scheme, or continued holding above income-generating ground-floor shops. On-site parking, EV chargers and strong town-centre footfall support convenience retail and last-mile logistics uses while the first-floor footprint offers clear subdivision potential for multiple flats.
Key considerations are the mixed-age fabric and likely need for refurbishment or modernisation (including flat roof and façade condition) together with above-average local crime levels and a local demographic profile described as “hampered aspiration / constrained renters.” Broadband speeds are average; mobile signal is excellent. The property is offered freehold at the stated price and sits in a flood‑risk low area.
This is a pragmatic value-play for an investor or developer seeking a well-located, high-accessibility site with planning or conversion upside. Budget for refurbishment, potential service/tenure enquiries and active asset management to maximise rental mix and capitalise on the site’s transport links and anchor tenants.
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