For Sale

9-11 North Street, Exeter

An INVESTMENT/DEVELOPMENT opportunity that is situated in the middle of Exeter City Centre. There are two commercial premises on the ground floor with a combined income of £38,000 per annum. Above the commercial premises are 3 floors with planning permission for 8 apartments.

Commercial Premises (Admiral Shop)
This premises have an income of £28,000 Per Annum and the retailer has 23 years remaining on their lease.

Commercial Premises (Roundel)
This premises have an income of £10,000 Per Annum and the retailer has 1 year remaining on their lease.

Development
There is full planning permission for Seven 2-bedroom apartments and One 1-bedroom apartment. The planning Reference is 15/0709/FUL.

GDV AND ERV of the Eight Apartments
We believe the potential GDV of the Eight Apartments is £2,200,000 and the ERV to be £156,000 P/A.

Total ERV of the building
The total ERV of the building once the apartments are built and let would be circa £194,000 P/A

£875,000
15 Bedroom Commercial

Overview

Bedrooms15 Bedrooms
Bathrooms5 Bathrooms
Reception Rooms5 Receptions

Features

  • Planning Permission for 8 apartments
  • 2 commercial premises with a combined income of £38,000 per annum
  • One of the commercial premises has over 23 years remaining on the lease
  • City Centre location
  • No Chain

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