Acting on the instructions of Chartman Limited, joint agents Alder King Property Consultants and Jones Lang LaSalle are pleased to announce the sale of 49-51 Magdalen Road, Exeter to the current occupiers.
The Magdalen Road Spar retail property comprises 3,536 sq ft (328.6 sq m), arranged over the basement and ground floors, with a first floor residential flat above the unit comprising 654 sq ft (60.8 sq m).
The premises was sold for £515,000 by Eversleigh Investment and Property Company Limited, represented in the transaction by Andrew Hector of Jones Lang LaSalle Limited.
Scott Rossiter, Partner of Alder King’s Exeter office, who negotiated the acquisition on behalf of his clients, said: “they were local independent traders as opposed to mainstream supermarkets, and have worked on this premises for over 60 years between them. By purchasing the freehold in the premises there will be reliability, continuity and heritage involved, and the store’s presence will remain at the heart of the community”.
