Main Road, Exminster

DESCRIPTION An exciting opportunity to acquire the freehold of a prominent mixed-use property situated in the heart of the popular village of Exminster, on the outskirts of Exeter.
Occupying an enviable position amongst the village's established amenities and local businesses, the property provides a particularly attractive combination of commercial and residential income, offering investors diversification from three separate rental streams.
The ground floor comprises two commercial units, currently occupied as offices by professional businesses and let on long leases with 10-year rights to renew.
Above the commercial accommodation is a well-presented three-bedroom apartment, providing generous and versatile living accommodation throughout together with the highly desirable addition of a private roof terrace garden.
The apartment is currently let, providing a further established income stream.
The property therefore offers an appealing combination of secure existing income, a diverse tenant profile and freehold ownership, making it an attractive proposition for private investors, property companies, pension investors and owner-occupiers seeking an investment with residential and commercial components.

The building comprises three separately income-producing elements:

Unit 1 - Commercial
A ground floor commercial office unit currently occupied by a professional business.
Current rent: £575 pcm
Annual rent: £6,900
The unit is let on a long lease with a 10-year right to renew.

Unit 2 - Commercial
A further ground floor commercial office unit, also occupied by a professional business.
Current rent: £775 pcm
Annual rent: £9,300
The unit is let on a long lease with a 10-year right to renew.

First Floor - Three-Bedroom Apartment
A spacious and beautifully presented three-bedroom residential apartment occupying the upper floor.
The apartment is in excellent condition and offers well-proportioned accommodation throughout, providing a comfortable and desirable residential environment.
A particular feature is the private roof terrace garden, providing an unusual and highly attractive outdoor space which adds significant appeal to the accommodation.
The apartment is currently let.
Current rent: £1,050 pcm
Annual rent: £12,600
 

INVESTMENT SUMMARY Income Stream Monthly Rent Annual Rent
Unit 1 - Commercial £575 £6,900
Unit 2 - Commercial £775 £9,300
Three-Bedroom Apartment £1,050 £12,600
TOTAL £2,400 £28,800
GUIDE PRICE: £380,000
CURRENT GROSS RENTAL INCOME: £28,800 PA
GROSS INITIAL YIELD: 7.58%
INVESTMENT ANALYSIS

At the asking price of £380,000 and the current combined rental income of £28,800 per annum, the property provides an attractive gross initial yield of approximately 7.58%. This equates to an annual rental return of approximately £28,800 before property ownership costs, representing a diversified income stream from two commercial occupiers and one residential tenant. The mixed-use nature of the investment provides an additional element of diversification, with income derived from both the commercial and residential sectors rather than relying upon a single tenant or property use.

The commercial units are currently occupied by professional businesses on long leases with 10-year rights to renew, whilst the residential apartment is also producing an established rental income. For an investor looking for an income-producing freehold asset in a prominent village location, the combination of three rental streams, mixed-use accommodation and an attractive headline yield makes this a compelling opportunity.

The quoted yield is calculated before acquisition costs, financing costs, management expenses, repairs, insurance, taxation, voids and other property-related expenditure. Purchasers should satisfy themselves as to the applicable costs and underlying tenancy arrangements. 

TENANY AND INCOME The property is offered subject to the existing occupational arrangements.
Further details of the individual leases, tenancy agreements, expiry dates, renewal provisions, rent review arrangements and tenant covenants are available from the selling agent upon request.
This is an increasingly rare opportunity to acquire a freehold mixed-use investment in a prominent village-centre position, combining established commercial occupation with a desirable three-bedroom residential apartment.

Early inspection is strongly recommended.

All figures are believed to be correct at the time of preparation but should be verified by prospective purchasers and their professional advisers. The property is offered subject to contract and availability.
 

LOCATION The property occupies a prominent position within Exminster village centre, surrounded by an established mix of local shops, services and businesses. The village provides a convenient range of day-to-day amenities, including a local Tesco, cafés, hair and beauty services and other independent businesses. The central retail area is an established focal point for the local community.

Exminster benefits from its proximity to Exeter, whilst retaining the character and convenience of a well-established village community. The village's central facilities and walkable retail offering provide an excellent setting for both the commercial occupiers and the residential apartment.