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

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Investment Opportunity, 42 Longbrook Street, Exeter, Devon, EX4 6AE RETAIL Investment comprising City centre Bar close to John Lewis INVESTMENT & the High Street, with 2 flats over plus parking at the rear OFFICE 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 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 Preparation Area 2.08m x 1.32m (6’10” x 4’4”) max Gents Toilet Brief details of the accommodation, with approximate maximum A useful area with Stainless steel sink recessed into the worktop with Low level WC suite with pedestal wash basin. Part tiled walls. Roof internal dimensions are as follows: - space for fridge under. Shelf over. light. Bar 8.38m x 5.76m (27’6” x 18’10”) max Ladies Toilet Cellar 4.60m x 3.69m (15’1” x 12’1”) max A well fitted bar on ground floor with large window to front and glazed Low level WC suite with pedestal wash basin. Part tiled walls. Roof Spacious room with shelving to 2 walls for bottles and kegs. Door to door from Longbrook Street. Timber floor. Fitted benching to some light. rear courtyard. Strip lighting and power as fitted. walls. Bar area to far end. Access way leading to FIRST FLOOR FLAT SECOND FLOOR MAISONETTE Accessed from either Longbrook Street or from the rear parking area Accessed again from either Longbrook Street or from the rear parking to a entrance lobby with stairs leading up to landing with doors to ….. 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. 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. 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 Bedroom No 1 3.67m x 3.65m (12’0” x 11’11”) max Induction Hob with electric Oven below. 1 ½ bowl stainless steel sink Window to rear. Carpeted. Radiator. Power as fitted. unit with single drainer. Window. Integrated Fridge / Freezer and Shower Room Dishwasher. Washer / Dryer. Concealed lighting. Vinyl floor. Large shower cubicle with mixer shower and glazed doors. WC suite. Third Floor Pedestal wash basin. Part tiled walls. Vinyl flooring. Heated towel rail. Stairs up to landing with doors to …. 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 st 1 October 2018 at a rent of £890 pcm Bedroom No 1 4.76m x 3.63m (15’8” x 11’11”) max PRICE AND TENURE Window to rear. Radiator. Carpeted. Door to … 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, En-Suite offering an investor a return of 7% before purchase costs. Large shower cubicle with glazed screen and mixer shower unit. WC suite. Wash hand basin. Heated towel rail. Vinyl floor. SERVICES We understand that all mains services are available to the premises. Bedroom No 2 4.06m x 3.74m (13’4” x 12’3”) max Window to front . Radiator. Carpeted. LEGAL COSTS Each part to be responsible for their own legal costs. EXTERNALLY To the rear of the premises is a car parking area with up to 2 car parking VIEWING spaces. The car parking spaces are currently unallocated to either the Strictly by prior appointment only with the sole agents, for the flats or the ground floor commercial unit. attention of Tony Noon (07831 273148) Ref (0491) ENERGY PERFORMANCE CERTIFICATE Tel. 01392 691007 An EPC has been obtained for the commercial area and the 2 flats. Mob. 07831 273148 Copies are available on request. The Ratings are as follows: - Shop:- D 80. Flat 1: - TBC Flat 2: - TBC Email. [email protected] Web: www.noonroberts.co.uk 42 Longbrook Street Aerial View of the City showing the central location of 42 Longbrook Street. .
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