Acting on behalf of a Family Trust, Stratton Creber Commercials’ Exeter office has sold the freehold interest of a substantial commercial building within the heart of the City Centre.
The property has been in the same ownership for over 40 years and occupied for the same amount of time by Kall Kwik and more latterly Stormpress.
Damian Cook, of Stratton Creber Commercial comments ‘’Following Stormpress’ decision to relocate to their existing and recently refurbished out of town unit at Orchard Court on the Sowton Industrial Estate, we were instructed to sell the Fore Street premises which comprises a ground floor shop with offices above. Prior to selling planning permission was secured to convert the upper floors to a 1 bed and a 2 bed flat. The property was sold in excess of the guide price of £235,000 to an investor who intends to convert the flats and look for a tenant for the ground floor.’’
Demand for freehold commercial property in Exeter remains strong and is still an attractive option for investors looking to secure a good return for their money.