Unit 8 and 9 Mulberry Court, Lustleigh Close, Exeter, EX2 8PW

2 self contained office buildings

Mid terraced,well presented office units

2 self contained office buildings which are contiguous (option to combine)


Fully income producing


12 allocated parking spaces


Circa 1,600 sq. ft each (Total: 3,200 sq.ft)


The Marsh Barton Trading Estate, and its newer extension, Matford Park, is located to the southern edge of the city on the west side of the River Exe, and is the largest and most established estate. It is well served by road links both within and from outside the city boundaries, particularly the A30 and A38 which link to the M5 motorway. The estate is particularly popular with the motor trade industry and trade counter operators and has been further extended by the Matford Green development in recent years.

The property is located in a 1980s development known as Mulberry Court, which is accessed from Lustleigh Close, a no-through road leading off Matford Park Road. Mulberry Court comprises a terrace of ten office units, and occupiers include Passmore Care, Coastal Recycling and Oak First Investments.


Description
Unit 8 & 9 Mulberry Court are 2 self contained mid terrace office units and provide well presented offices on ground and first floors accessed via a lobby. There is a disabled WC on the ground floor with a kitchen and a further WC on the first floor.

The offices are mainly open plan, but with some demountable partitioning.

The specification includes:

Large double glazed windows to front and rear
Gas fired central heating
Suspended ceilings with LED lighting
Wall mounted power & data
Security & fire alarms
Unit 9 benefits from air conditioning throughout

Each unit has 6 allocated parking spaces in the shared car park.

Lease terms
Unit 8
The property is held by way of a lease to Ishelp.co.uk Ltd for a term of 10 years from 17th August 2022, on an Full Repairing and Insuring basis. The passing rent is £17,750 per annum, subject to a review in August 2027.
A tenant only break option is also included, 17th August 2027.
Unit 9
The property is being sold with the benefit of a lease to Luxury Coastal Ltd for a term of 6 years from 1st November 2021, on an Full Repairing and Insuring basis. The passing rent is £18,250 per annum.

An estate charge is payable by the tenant-the current charge for each unit is available on request.

Proposal - Sale
The property is offered for sale by way of a long leasehold (expiring 1st July 2114), at a guide price of £415,000. Subject to the occupational leases providing a total annual income of £36,000 as set out below. Please contact sole agent for further details.




VAT will be applied at the standard rate where applicable.

Both parties to bear their own legal costs in the transaction.

EPC's are available for this property. Please contact the agent for further details.