Two adjoining properties in the town of Topsham, near Exeter, have been sold in a complex transaction.
20B High Street is a period building which has been occupied by printing firms for several decades, while the adjoining 20C High Street is a more modern two-storey office building which is occupied by a surveying practice. Both properties were offered with tenants in occupation but without formal leases in place. The buildings, while separately owned and occupied, were interlinked and shared parking areas. The sale was further complicated by issues including rights of way, building regulations and questions over tenure and ownership of boundary walls.
Acting for the vendors of both properties, Stratton Creber Commercial brokered connected deals with a purchaser for the two properties. Jonathan Ling, who fronted the deal, comments: “The properties had been in their current ownership for decades, and this, combined with the fact that they are older buildings with issues over rights, boundaries and tenure, made this a highly complex transaction.”