Summary - C/o Balliol House, Southernhay Gardens, Exeter, Devon, EX1 1NP EX1 1NP
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prominent location on Fore Street, Exeter, with excellent foot traffic
- Currently leased to two independent retailers with reliable rental income
- Ground floor with impressive glass frontage and additional storage space
- Lower ground floor includes a versatile studio room and further storage
- Offers in excess of £350,000, equating to a 7.59% Net Initial Yield (NIY)
**Concise Property Summary:**
This retail investment property, strategically located on the bustling Fore Street in Exeter, presents an exciting opportunity for investors. Currently split between two long-standing tenants, the property is generating a stable rental income of £27,560 per annum from two leaseholders, both of whom have a history of occupancy of over six years. The ground floor features an attractive glass frontage, perfect for visibility and appeal, complemented by essential storage in the lower level.
With shops and amenities in close proximity, the area enjoys robust foot traffic year-round, making it ideal for independent retailers. Though it's chain-free, prospective buyers should note that the short remaining lease term (approximately 3 years left) may pose challenges for mortgage lenders. Additionally, the property's versatile layout opens up potential for future renovations to maximize value. Priced at offers in excess of £350,000, this property is positioned to be a solid addition to any portfolio—though given the current market dynamics, interested parties should act quickly.
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