EXCESS £510,000 Freehold - Mixed Investment premises in sought after Exeter City centre location

Approximately 56 sq.m (604 sq.ft) Bar plus rear Parking with 2 recently converted flats over

Investment Opportunity, 42 Longbrook Street, Exeter, Devon, EX4 6AE

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INVESTMENT

OFFICE

Investment comprising City centre Bar close to John Lewis & the High Street, with 2 flats over plus parking at the rear

Situation and Description These centrally located premises comprise an end of terrace building situated in the heart of the City Centre close to John Lewis, Exeter University, and the large multi storey car park located behind it. This makes it very convenient for the main retail area of the city including Princesshay, the office area of Southernhay and the Cathedral area, and the recently completed Queen Street Dining area. The premises are arranged as a small boutique Real Ale Bar on the ground floor, with a separate entrance at front and rear to a 1 bedroom flat on the first floor, and a 2 bedroom maisonette on the second and third floors. The premises have been converted over the last 2 years, and now offer a well located investment in a sought after City centre location.

The Cathedral City and County Town of Exeter is the commercial centre of the South West, being strategically located to offer excellent communications. London (Paddington) is within 2 hours’ train journey from Exeter St David’s, with the M5 Motorway and the A30, A38 and A303 dual carriageways offering easy access to Plymouth and Cornwall to the South, and Bristol, London and the Midlands to the North. Exeter International Airport has a comprehensive range of UK and European flights.

Accommodation Brief details of the accommodation, with approximate maximum internal dimensions are as follows: -

Bar 8.38m x 5.76m (27’6” x 18’10”) max A well fitted bar on ground floor with large window to front and glazed door from Longbrook Street. Timber floor. Fitted benching to some walls. Bar area to far end. Access way leading to

Preparation Area 2.08m x 1.32m (6’10” x 4’4”) max A useful area with Stainless steel sink recessed into the worktop with space for fridge under. Shelf over. Ladies Toilet Low level WC suite with pedestal wash basin. Part tiled walls. Roof light.

Gents Toilet Low level WC suite with pedestal wash basin. Part tiled walls. Roof light.

Cellar 4.60m x 3.69m (15’1” x 12’1”) max Spacious room with shelving to 2 walls for bottles and kegs. Door to rear courtyard. Strip lighting and power as fitted.

FIRST FLOOR FLAT Accessed from either Longbrook Street or from the rear parking area to a entrance lobby with stairs leading up to landing with doors to …..

Sitting Room / Kitchen 6.65m x 3.77m (21’10” x 12’4”) max Window to front. Carpeted with laminate in kitchen area. Radiator.

Comprehensive kitchen with range of wall and base units with solid Oak worktop with inset 1 ½ bowl stainless steel sink with single drainer. Window. Fitted and integrated Washer / Dryer and Dishwasher, Fridge/ Freezer. Electric Induction Hob with electric oven below and extractor hood over. Cupboard with hot water cylinder.

Bedroom No 1 3.67m x 3.65m (12’0” x 11’11”) max Window to rear. Carpeted. Radiator. Power as fitted.

Shower Room Large shower cubicle with mixer shower and glazed doors. WC suite. Pedestal wash basin. Part tiled walls. Vinyl flooring. Heated towel rail.

SECOND FLOOR MAISONETTE Accessed again from either Longbrook Street or from the rear parking via the entrance lobby with stairs leading up to a landing and door to ..

Entrance Hall Door to and inner staircase to top floor.

Sitting / Dining area 7.53m x 4.63m (24’9” x 15’2”) max Spacious room running from front to rear with windows on each elevation. Fitted storage cupboards . Wood strip floor. Radiators.

Kitchen Area 2.53m x 2.46m (8’4” x 8’1”) max Range of wall and base units with solid oak worktops with inset electric Induction Hob with electric Oven below. 1 ½ bowl stainless steel sink unit with single drainer. Window. Integrated Fridge / Freezer and Dishwasher. Washer / Dryer. Concealed lighting. Vinyl floor.

Third Floor Stairs up to landing with doors to ….

Bedroom No 1 4.76m x 3.63m (15’8” x 11’11”) max Window to rear. Radiator. Carpeted. Door to …

En-Suite Large shower cubicle with glazed screen and mixer shower unit. WC suite. Wash hand basin. Heated towel rail. Vinyl floor.

Bedroom No 2 4.06m x 3.74m (13’4” x 12’3”) max Window to front . Radiator. Carpeted. EXTERNALLY To the rear of the premises is a car parking area with up to 2 car parking spaces. The car parking spaces are currently unallocated to either the flats or the ground floor commercial unit.

ENERGY PERFORMANCE CERTIFICATE An EPC has been obtained for the commercial area and the 2 flats. Copies are available on request. The Ratings are as follows: - Shop:- D 80. Flat 1: - TBC Flat 2: - TBC

TENANCIES Commercial The premises are occupied by The Braai Man Limited on a 20-year effective Full Repairing and Insuring lease which commenced on the 21st December 2017 (Expires on the 20th December 2037). The rent is £16,500 per annum and includes 5 yearly upwards only rent reviews. A tenant only break clause exists at the end of the 3rd and 10th year providing 6 months prior written notice. The lease is contracted outside of the security of tenure provisions of the Landlord and Tenant Act 1954. A copy of the lease is available on request.

Flat No 1 This is currently vacant having just been completed. This can remain vacant or can be let on a new AST agreement at a rent of £700 pcm

Flat No 2 This is currently occupied by way of an AST agreement from the 1st October 2018 at a rent of £890 pcm

PRICE AND TENURE Offers are sought in the region of £510,000 for the freehold of this well located City premises with an income when fully let of £35,580, offering an investor a return of 7% before purchase costs.

SERVICES We understand that all mains services are available to the premises.

LEGAL COSTS Each part to be responsible for their own legal costs.

VIEWING Strictly by prior appointment only with the sole agents, for the attention of Tony Noon (07831 273148) Ref (0491)

Tel. 01392 691007 Mob. 07831 273148 Email. tn@noonroberts.co.uk Web: www.noonroberts.co.uk

Aerial View of the City showing the central location of 42 Longbrook Street.

42 Longbrook Street