Summary - 29 MAGDALEN ROAD EXETER EX2 4TA
1 bed 1 bath Restaurant
**Key Features:**
- Long leasehold (999 years) on a profitable restaurant/bar investment.
- Current lease generates £18,000 per annum, with a 6-year term starting July 2024.
- 7.66% potential gross return before purchase costs.
- Located on vibrant Magdalen Road, known for its café culture.
- High foot traffic, benefiting from recent street enhancements.
**Overview:**
Unlock a lucrative investment opportunity with this well-presented lock-up restaurant/bar located in the highly sought-after area of Magdalen Road, Exeter. Spanning approximately 800 sq. ft., it features an inviting bar area, cozy dining spaces, a commercial kitchen, and additional cellar storage. The property attracts a diverse clientele due to its strategic location near Exeter's city center, enjoying a blend of local residents and student foot traffic from nearby cosmopolitan student neighborhoods.
Currently leased to a private individual at £18,000 per annum, the premises are secured under a 6-year lease with RPI-linked rent reviews every three years, ensuring steady income growth. The business itself continues to thrive, unaffected by the sale, allowing for peace of mind while you invest in the vibrant Exeter market.
While the interior boasts a charming Victorian style, some maintenance may be required, offering a chance for renovation to maximize value and aesthetic appeal. Take advantage of the patio seating licensed from the city council for an enhanced dining experience. With low crime rates and excellent connectivity, this is a prime opportunity for investors looking to capitalize on the growing hospitality scene in Exeter. Don't miss out—properties of this caliber in such a coveted location are rare!
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