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COMMERCIAL

Concord House, South Street, Exeter, EX1 1EG

Offers in Excess of
£7,000,000
By Design, covering Nationwide
PROPERTY TYPE

Residential Development

BEDROOMS

42

BATHROOMS

65

SIZE

500 sq ft

46 sq m

Key features

  • Prime mixed-use freehold investment opportunity
  • City centre location
  • 28 apartments / 42 bedrooms – fully let with a waiting list of tenants
  • Available fully furnished
  • Turnkey accommodation following full conversion and redevelopment (completed 2025)
  • Fully refurbished – no immediate CapEx required
  • Fully refurbished – no immediate CapEx required
  • Strong commercial covenants
  • Passing rent: £577,800 per annum
  • Present gross ROI: 8.25%

Description

Concord House is a comprehensively redeveloped mixed-use freehold investment occupying a prominent position on North Street in the heart of Exeter city centre. The building has been converted and repositioned into a high-quality, residential-led scheme comprising 28 apartments arranged over the upper three floors, with two commercial units at ground floor level.

The residential accommodation extends to 42 bedrooms in total and is finished to an excellent specification throughout. All apartments are fully furnished and presented as true turnkey accommodation, with no immediate capital expenditure required. The building is fully let and benefits from a waiting list of prospective tenants, demonstrating the depth of demand for well-located, professionally managed city-centre living.

The commercial element provides additional stability to the overall income profile, generating £76,000 per annum in fixed rent, underpinned by strong commercial covenants and providing a reliable base to the wider rent roll.

Further enhancing the asset’s appeal, the property benefits from 10 off-street car parking spaces, a valuable feature in a central Exeter location where parking is typically constrained.

The location is a standout attribute. The property sits within easy walking distance of Exeter’s principal retail, leisure and employment hubs, including Guildhall Shopping Centre (approx. 0.2 miles), Exeter Cathedral (0.3 miles) and Princesshay Shopping Centre (0.5 miles). Exeter Central Station (approx. 0.9 miles) provides regional and national connectivity, while Exeter University (1.3 miles) and the Royal Devon & Exeter Hospital (1.0 mile) further underpin consistent occupational demand fundamentals.

The asset was valued in November 2024 at £7.66 million and generates a passing rent of £577,800 per annum, reflecting a present gross ROI of Circa 8.25%. Concord House represents a fully repositioned, income-producing investment in one of the South West’s strongest regional cities, offering an attractive combination of stabilised commercial income, modern residential accommodation, and long-term growth potential.

Concord House, South Street, Exeter, EX1 1EG

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Exeter Central Station0.4 miles
  • Exeter St. Thomas Station0.4 miles
  • St James Park Station0.8 miles

About By Design, covering Nationwide

12 Old Bond Street, Mayfair, London, W1S 4PW

By Design market unique and desirable homes with a personal and personalised service. We are a network of selected, leading, independent businesses, with the scale and reach of a national brand and the care and dedication of a local agent. Customer focused and needs driven, we pride ourselves on being with you from start to finish, ensuring your move is a success.

Notes

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Disclaimer - Property reference BYD_BRS_LFSYCL_1068_1229494738. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by By Design, covering Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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