Summary - 137, Magdalen Road, EXETER EX2 4TN
1 bed 1 bath Retail Property (high street)
Prominent Exeter freehold with rental income and flexible ground floor uses.
Approx. 1,400 sq ft mixed‑use freehold with high street frontage
A rare mixed‑use freehold on busy Magdalen Road, offered with immediate possession and rental income. The property extends to approximately 1,400 sq ft over ground, first and second floors, combining a prominent ground‑floor commercial/office area with a three‑bedroom maisonette above. The ground floor has good display frontage, open‑plan sales/office space, additional internal storage/boardroom and a small rear courtyard. Both ground floor and maisonette hold EPC ratings of D (99 and 67) and are served by mains gas central heating.
This asset will suit investors seeking a central Exeter holding with immediate yield: the maisonette currently produces a passing rent of £1,150 pcm (£13,800 pa) on a periodic tenancy. The ground floor is flexible under the E class use provisions and could continue as office/retail or be adapted (subject to planning) for alternative commercial uses, cafes or similar. Prominent roadside position on an affluent, largely residential and independent‑retail stretch supports footfall and visibility.
Important practical points and constraints are set out plainly. The maisonette tenancy is periodic (AST expired November 2023) so possession terms can change with notice. The title includes mixed interests—the property is offered freehold but the maisonette is noted as subject to a long leasehold interest; prospective buyers should confirm tenure details. Building fabric is Victorian solid brick (likely uninsulated walls as built), which may need upgrading for thermal performance and future lettability. Business rates and running costs apply (current ground floor Rateable Value £13,000; estimated rates payable c. £6,487 pa for 2025/26).
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