Central Exeter Mixed-Use Freehold with 28 Apartments and Fixed Commercial Income Support.
Concord House, South Street, Exeter,, EX1 1EG
Offers In Excess Of
£7,000,000
BEDROOM
42
BATHROOM
65
RECEPTION
42
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07407100966Property Info
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Description
Key Investment Features
- Prime mixed-use freehold investment opportunity
- City centre location
- 28 apartments / 42 bedrooms – fully let with a waiting list of tenants
- Available fully furnished
- Approx. 21,000 sq ft residential & 8,000 sq ft commercial
- Turnkey accommodation following full conversion and redevelopment (completed 2025)
- Fully refurbished – no immediate CapEx required
- Strong commercial covenants
- Passing rent: £577,800 per annum
- Present gross ROI: 8.25%
Concord House is a comprehensively redeveloped mixed-use freehold investment occupying a prominent position on North Street in the heart of Exeter city centre. The building has been converted and repositioned into a high-quality, residential-led scheme comprising 28 apartments arranged over the upper three floors, with two commercial units at ground floor level.
The residential accommodation extends to 42 bedrooms in total and is finished to an excellent specification throughout. All apartments are fully furnished and presented as true turnkey accommodation, with no immediate capital expenditure required. The building is fully let and benefits from a waiting list of prospective tenants, demonstrating the depth of demand for well-located, professionally managed city-centre living.
The commercial element provides additional stability to the overall income profile, generating £76,000 per annum in fixed rent, underpinned by strong commercial covenants and providing a reliable base to the wider rent roll.
Further enhancing the asset’s appeal, the property benefits from 10 off-street car parking spaces, a valuable feature in a central Exeter location where parking is typically constrained.
The location is a standout attribute. The property sits within easy walking distance of Exeter’s principal retail, leisure and employment hubs, including Guildhall Shopping Centre (approx. 0.2 miles), Exeter Cathedral (0.3 miles) and Princesshay Shopping Centre (0.5 miles). Exeter Central Station (approx. 0.9 miles) provides regional and national connectivity, while Exeter University (1.3 miles) and the Royal Devon & Exeter Hospital (1.0 mile) further underpin consistent occupational demand fundamentals.
The asset was valued in November 2024 at £7.66 million and generates a passing rent of £577,800 per annum, reflecting a present gross ROI of Circa 8.25%. Concord House represents a fully repositioned, income-producing investment in one of the South West’s strongest regional cities, offering an attractive combination of stabilised commercial income, modern residential accommodation, and long-term growth potential.
Property Information
Property Type
Commercial Property
Property Style
Residential Development
Parking
Off Road Parking
Tenure Type
Freehold