24th May 2017
Former Exeter language school building sold to local investor
Acting on behalf of a private vendor, property consultancy Alder King has sold the freehold of the former English in Exeter premises at 42 Longbrook Street in central Exeter. The end of terrace period office building was sold to Totnes-based Embo Investments Ltd for £326,900. Noon Roberts represented the purchaser.
The property is prominently situated in the heart of Exeter’s cultural quarter and close to the city’s thriving high street and shopping district. It provides 1,908 sq ft of office accommodation over four floors, with a yard and parking for 3-4 cars at the rear.
Although currently used as a language school, the property could easily be reverted to office, retail or mixed use or be converted into residential, subject to planning permission. The purchaser has instructed Noon Roberts to seek a tenant for the ground floor and intends to use the upper floors for their own use.
Lee Southan, surveyor at Alder King’s Exeter office, said: “This property attracted a significant amount of interest and went to best bids. As a result of this process, we received six strong proposals from local owner occupiers as well as local and overseas investors.
“We were delighted to have the property under offer within six weeks and secure a sale substantially over the guide price. This emphasises the strength of demand for freehold property in the city.”