42 Cowick Street, Exeter, Devon EX4 1AP

Investment Consideration:
Gross Initial Yield: 11.25%
Rental Income: £12,375 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a Charity Shop and 3 residential flats above (sold-off)
Asset management opportunity. Commercial tenant in occupation since 2011 and currently holding over
Situated within 285m from Exeter St Thomas train station providing services to Paignton, Exmouth and London via Exeter St Davids. Occupiers close by include Papa Johns, Co-Op Food, Domino’s, Greggs and more.

Property Description:
Comprises ground floor shop t/a charity shop and three residential flats above (all sold-off), providing the following accommodation and dimensions:
Ground Floor: 78 sq m (860 sq ft)
Open plan retail, storage, kitchen, wc
First/Second/Third Floor: 3 residential flats (sold-off)

Tenancy:
The retail shop is at present let to Mind (The National Association for Mental Health)* for a term of 10 Years from 14th December 2011 at a current rent of £12,300 per annum and the lease contains full repairing and insuring covenants.
*Mind are a mental health charity (Reg No 219830) and were established as The National Association for Mental Health in 1946. Mind has over 100 local branches across England and Wales. Website Address:
The residential flats have been sold-off on long leaseholds for a term of 999 Years from 1st January 1986 at a combined ground rent of £75 p.a. (£25 each).

Location:
The University City of Exeter is a major regional centre for the south-west peninsula, located 36 miles northeast of Plymouth and 65 miles southwest of Bristol. The city is located adjacent to the M5 Motorway. Junction 30 of the M5 Motorway is approximately 4 miles to the east of the property. The A337 and A30 are also in close proximity. Exeter St Thomas train station is located 285m from the property and provides services to Paignton, Exmouth and London via Exeter St Davids. Occupiers close by include Papa Johns, Co-Op Food, Domino's and Greggs amongst others.