Stratton Creber Commercial has sold 19 Heavitree Road to owner occupier Devon Coffee who are currently based in Queen St Exeter and have been looking to expand and secure additional premises in the City.
The prominent building which had been occupied by previous owners Posy Bowl florists comprises 883 sq ft ground floor and basement shop together with a self-contained 2 bedroom maisonette above. The property also benefits from 3 parking spaces to the rear. The upper parts have been vacant for around 35 years and are in need of substantial refurbishment throughout.
Such was the high level of interest in the freehold with development potential that Stratton Creber Commercial were instructed to offer the property by informal tender which lead to a competitive number of bids around the guide price of £190,000.
Zach Maiden from Stratton Creber Commercial reports ‘since the commencement of marketing we were inundated with enquiries from investors, developers and owner occupiers who were all interested in the premises for its development potential. With freehold properties of this nature so rare in Exeter we were not surprised by the level of interest generated and are delighted with the conclusion of the sale.’
Devon Coffee intends to refurbish the entire building and open up a second coffee shop where customers will be able to view the coffee brewing process of which they are renowned for throughout the region.