The Property comprises a recently refurbished, ground floor lock-up shop, provided in retail shell specification. The accommodation consists of predominantly open plan accommodation with a WC and hand wash basin to the rear. Also to the rear is a fire exit to the rear alley behind the property. The glazed shop front provides in excess of 8m gross frontage.
Location
The property is situated on southern Exeter’s busiest retail pitch, Cowick Street. The property is located at the northern end of Cowick Street, directly adjacent to Exebridges Roundabout, on the north western side of the road. The subject location provides the opportunity for substantial marketing opportunity given the prominence of the position, whilst benefitting from high levels of footfall, being on one of the main pedestrian routes into the City Centre, situated less than 1km to the north east. Nearby occupiers include Healthfoods Unlimited, Frame, Poundland and Boots.
Accommodation
Ground floor retail sales 1,037 sq ft (96.3sq m )
Terms
Services We are advised that all main services are connected to the premises and confirm that we have not tested any of the service installations and any occupier must satisfy themselves independently as to the state and condition of such items.
Planning We understand that the accommodation has planning consent for multiple uses within Use Class E, but all interested parties should make their own enquiries to the Planning Department of Exeter City Council. Tel: 01392 277888 or www.exeter.gov.uk.
Lease The property is offered by way of an assignment of the existing 10 year lease drawn on full repairing and insuring terms, expiring 19 July 2027. The lease incorporates a fifth year tenants break option on six months notice (due to expire with effect from 19 January 2022). The current rent payable is £14,500 per annum, exclusive of rates and VAT. The lease is within the security of tenure provisions of the Landlord & Tenant Act, 1954.
Business Rates We are informally advised by the Valuation Office website that the premises are assessed for rating purposes
Rateable Value:- £12,750 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.
Legal Costs Each party is to be responsible for their own legal costs incurred in the transaction.
Specification
- Suitable for Class E uses (retail sales, professional services, café/restaurant, medical, etc)
- Refurbished to a retail ‘white box’ specification.
- Prominently positioned on busy main road and thoroughfare into City Centre.