135 Fore Street, Exeter_Property for Sale
135 Fore Street, Exeter_Property for Sale
135 Fore St, Exeter EX4 3JQ

135 Fore Street, Exeter

Asset Description

The property originally comprised a mixed retail and residential development, but has since been split, separating the different use classes. The residential development comprises two terraces, each comprising five units and extending to an additional two storeys. There is an additional element comprising two single storey flats.

...

Attributes

Asking price
HK$11,512,000

Media

Investment Highlights

  • The subject property is located on a prominent pitch on Fore Street which benefits from strong retail, restaurant and leisure occupiers.
  • Fore Street is situated between Cowick Street and Exeter’s High Street which experiences high footfall.
  • The subject premises is a residential scheme comprising two terraces, each comprising five units and extending to an additional two storeys. An additional element comprising two single storey flats is located at the rear.
  • Held on a 199 year long leasehold (173 years remaining)granted on 23 February 1998 at a peppercorn rent. 
  • Leased to Sovereign Housing Association, now Sovereign Network Group, on a 40 year lease from 23 February 1998with annual rental uplift of 3.5%. 
  • The property has a current rental income of £70,211 per annum. 
  • Underpinned by local residential values in the region of £150,000 for 1 bed apartments and £180,000 for 2 bed apartments.


We are instructed to seek offers in the region of £1,150,000 (One Million, One Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.


A purchase at this level reflects a net initial yield of 5.77% assuming standard purchaser's costs of 5.89%.

135 Fore Street, Exeter 4_Property for Sale
135 Fore Street, Exeter 4_Property for Sale

Contact brokers

135 Fore Street, Exeter (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
15 Oct 2024