Exeter - Heavitree
Investment or Residential Development Oppotuntiy in Heavitree Exeter

Description

This is an unusual opportunity to acquire the freehold of a substantial Investment Premises with potential for Residential Development subject to planning.  The property formally comprised 2 semi-detached Houses which have been used on the ground floor as a Digital Printers, with one 2 bedroom and one 3 bedroom flat over, which are both let on AST agreements.  To the rear of the property a new single storey print workshop has been built plus there are a collection of other older storage buildings/ garages.  To the front of the site is a large car park with further parking on both sides and garden areas for each flat on a site totalling some 0.25 Acres.  The property is suitable for redevelopment to return the front building to 2 semi detached houses, and then seek planning for 1 or 2 further dwellings to the rear of the site, subject to all necessary consents.  Alternatively, Quickprint would be prepared to enter into a new lease of the ground floor shop and workshop for 3 – 5 years at a rent of £18,000 pa with rental income of £20,400 pa from the 2 flats, so totalling some £38,400 per annum.  This could allow a developer to seek the necessary planning whilst deriving a useful income from the property.