The prominent corner property at the junction of The Strand and Victoria Road, Exmouth has just been sold via Exeter based business transfer agents Beardsley Theobalds.
The original property dates back to the early 19th Century and is arranged over three floors providing a mixture of ground floor shops and offices above. It is understood that the building has housed an ironmongery business since the mid 1840s!
The property is now occupied by a variety of tenants with secure leases and includes a hardware shop/ironmongers (which has been a tenant since 1986) a kitchen and homewares shop, a bicycle shop and a language school as well as many others. There is also a section of the property used for serviced office accommodation. It should be stressed that it is simply the freehold of the property that has been sold; the businesses and the tenants remain.
The vendors had had an involvement with the property since 1954 when the family acquired the lease to the hardware/ironmongers business. The family then acquired the freehold to the property in the early 1970s.
The property produces a steady income from its range of tenants and proved to be attractive to many people looking for a good return on capital. The buyers are a local couple who bought the premises along with family investment partners.