The Property is prominently situated on the eastern side of the pedestrianised Gandy Street, conveniently
located in close proximity to the High Street. The Property is a short walk from the Guildhall Shopping
Centre, Exeter’s principle shopping destination.
DESCRIPTION
The Property comprises an attractive end of terrace building. The accommodation is arranged over ground and first floor. There is also a large outdoor seating area to the rear. Zizzi recently undertook a refurbishment of the property.
TENANCY
The Property is let in its entirety to Zizzi Restaurants Ltd on a new 20 year FRI lease from 24 January 2024, expiring 23 January 2044, subject to a tenant break option at year 10. The current rent passing is £110,000 per annum. The lease benefits from five yearly upwards only open market rent reviews. The next rent review is 24 January 2029.
ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE nor any of its members or any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to any properties. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor / lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor / lessor and a purchaser or tenant. 2 Prospective purchasers / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. May 2024
