74 Queen Street, Exeter, EX4 3RX

Exeter is an historic cathedral city with a popular, Redbrick University.
Queen Street is a busy retail/leisure pitch in the city centre within close proximity to the University of Exeter and Exeter Central Railway Station.
Period property comprising a busy restaurant over ground floor and basement, with first floor student accommodation.  The student accommodation provides 10 loft style student bedrooms arranged in two apartments.
Restaurant let to Modern Diners Ltd (t/a Ruby) on a 20 year lease from 22 October 2012 at a passing rent of £40,000 per annum.
The student accommodation is let on AST's and currently produces a gross income of £58,168 per annum, increasing to £59,620 per annum on 27 August 2014.  Students have already been secured for the next academic year on AST's expiring 26 July 2015.
Total gross income £98,168 per annum, the Net Operating Income (NOI) after estimated costs have been deducted for the operation of the student accommodation is £81,891 per annum increasing to £83,199 per annum in August 2014.

Location