16 Gandy Street, Exeter, Devon, EX4 3LS
Size
1,867
Tenure
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EPC
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Parking
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- Primary use
- Other
No floor / site plan
Key features
- City centre mixed use investment
- Ground floor shop with offices above
- Approx: 1,867 sq ft (117.81 s qm)
- Potential to convert undeveloped upper part
- Passing rent: £40,400 per annum
- Approx net initial yield 8.5% after purchasers costs.
- Guide price: £455,000
Description
Ground floor shop with offices above
Approx: 1,867 sq ft (117.81 s qm)
Passing rent: £40,400 per annum
Potential to convert undeveloped upper part
The property is situated in a central position within the heart of the established and popular area of Gandy Street close to the High Street, Princesshay and Guildhall Shopping Centres and the Queen Street Dining quarter.
The Royal Albert Memorial Museum, Phoenix Art Centre, Central Railway Station and various pay and display car parks are all within walking distance.
Gandy Street is established for both independent and multiple retailers and restaurants, being busy throughout the day and early evening with occupiers including Bang & Olufsen, Chococo, Zizzi's restaurant, Seasalt, Florin Florist, Bills Restaurant and Coolings Wine Bar.
The property comprises a mid terrace building, with the accommodation arranged over ground and mezzanine plus first and second floor.
The ground floor and mezzanine provides a retail unit while the self contained first and second floor comprises office accommodation.
The ground floor and upper parts each benefit from their own self contained entrance directly from Gandy Street.
Value Added Potential
There is accommodation to the rear of the property which is not demised to either tenant comprising approximately 321.30 sq ft (29.85 sq.m) which has not been refurbished by the vendors.
Proposal
The property is offered for sale Freehold, at a guide price of £455,000. Please contact agent for further details.
VAT is applicable to this sale. It is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC).
Each party to bear their own legal costs in the transaction.
An EPC is available and the rating is C68.
The property falls outside the Article 4 Direction set out by Exeter City Council. Therefore it is understood that the property would qualify for Permitted Development Rights for the conversion of the upper parts into residential. Prospective purchasers are advised to make their own enquiries.
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Brochure
16 Gandy Street, Exeter, Devon, EX4 3LS
About Stratton Creber Commercial, Exeter
Stratton Creber Commercial provides a full range of services in commercial property across the South West from offices in Exeter, Plymouth and Truro.
We are an independent firm of chartered surveyors with strong local roots, offering a wide range of professional services to the commercial property sector.
We offer a straightforward, personal and honest approach to meeting the needs of our clients, including investors, developers, occupiers and lenders.
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