Haarer Goss, Exeter based chartered surveyors

Property News

NEW - 3 Budlake Road, Marsh Barton, Exeter
September 27, 2019, 11:02 am

These flexible industrial premises comprise a range of workshops originally constructed in the 1970's for Hills Bodyworks Limited.  The main workshop is constructed in seven bays, each with its own set of doors or a roller shutter providing a range of occupational configurations with ample off road parking and circulation space.

The site extends to approximately 0.218 hectare (0.54 acre) with the buildings offering 880.79 sq.m (9,481 square feet) of accommodation indicating an approximate site covering of 40%.

Externally, the premises are accessed immediately from the adopted highway.  The front yard is concrete surfaced and provides a good area for parking and there is access via a driveway to the eastern end of the premises providing access to the rear yard.  The front yard extends to an area of approximately 652 sq.m (7,024 sq.ft) and the rear 500 sq.m (5,382 sq.ft).

The premises were originally constructed for vehicle bodywork repairs.  In more recent years they have been occupied by Hamilton Gray, a coach and minibus hire company and used for garaging and servicing purposes.  Part of the premises has been used for car valeting.

The lease provides that the premises may be used for any use falling within Class III, IV and X under the Use Classes Order 1972 or other non-offensive uses provided the landlord consents.  This is quite wide ranging and is equivalent to the modern B1, B2 & B8 consents for light and general industrial as well as warehouse and distribution.

The premises are held on a long lease from Exeter City Council for a term of 99 years expiring 28th September 2076.  The current ground rent is £25,000 per annum payable quarterly in advance.

A purchase of this long leasehold interest could provide an exciting opportunity for an owner occupier or commercial property investor / developer to benefit from the comparatively low ground rent and add value through improvement, development or occupation.

The premises are being marketed by Haarer Goss on the instructions of Waterfold Asset Management Limited who are the appointed receivers in connection with the sale of this long leasehold interest.

Offers are being sought for the long leasehold interest at a guide price of £200,000. 

Please contact Iain Biddlestone at Haarer Goss on 01392 251171.