The property comprises a part-occupied, two-storey detached modern office building with self-contained ground and first floor office space.
Externally there are 23 allocated tarmacadam surfaced car parking spaces, currently designated 11 for the ground floor and 12 for the first floor.
Location
Capital Court is situated on the eastern edge of the city of Exeter, just off Junction 29 of the M5 motorway (Exeter North). It offers unrivalled access to the M5 and the regional trunk road network, as well as public transport access to the city centre, around 3 miles away, via the Park & Ride service which runs from a terminus which is 200 metres from Capital Court. The Sowton Estate is also served by the Digby & Sowton railway station which offers connections to destinations in Exeter and East Devon
Accommodation
Ground Floor 3,778sq ft ( 351.00 sq m )
Second Floor 3,794 sq ft (352.51 sq m )
TOTAL 7,572 sq ft (703.51sq m )
Terms
We are verbally advised that the accommodation has planning consent for office use but any occupier should make their own enquiries to the Planning Department of Exeter City Council. Tel: 01392 277888 or Planning services - Exeter City Council. There is the potential for alternative uses within Use Class E, subject to the applicant undertaking their own enquiries with Exeter City Council Planning dept.
Business Rates From information enquiries on the Valuation Office website we understand the property to have the following rateable values: Ground Floor £34,000 First Floor £36,000 Interested parties should make their own enquiries to Exeter City Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment.. www.voa.gov.uk.
Energy Performance Certificate The EPC Rating is B 43 and the full certificate can be provided on request. Code for Leasing For the latest RICS advice on commercial property leasing, please consult the RICS Real Estate Code for Leasing 2020 AML A successful tenant/purchaser will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed.
Terms Tenancies Ground Floor Vacant. First Floor The offices are currently let to the Royal College of Nursing of the UK who have confirmed they will be vacating from lease expiry in December 2023. The current passing rent is £63,780 per annum. Accordingly, any purchase of the building after December 2023 would be on the basis of vacant possession.
Purchase Price The property is offered for sale for £1,250,000 exclusive of VAT. Potential To Let The Vendor would consider letting the building, subject to agreement on terms. Any interested parties should contact the agents to discuss lease terms.
Legal Costs Each party is to be responsible for their own legal costs.
VAT Under the Finance Acts 1989 and 1997, the property is elected for VAT and will be levied on the purchase price. We recommend that the prospective purchasers establish the VAT implications before entering into any agreement.
Specification
- Suspended ceilings
- Fully accessible raised floors
- Onsite parking