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200 Honiton Rd - Carbana Car Wash 500 SF Specialty Building Offered at $1,208,479 at a 7% Cap Rate in Exeter EX1 3RU
INVESTMENT HIGHLIGHTS
- Freehold newly created carwash investment opportunity in a prime location in Exeter
- Only 3 miles aways from the town centre
- The site sits on Honiton Road, opposite Moor Exchange retail development site
EXECUTIVE SUMMARY
The freehold investment is available for purchase, at £907,000 excusive of VAT, reflecting a Net Initial Yield of 7.00% (assuming purchasers’ costs of 5.64%).
The site is let to Carbana Ltd for a term of 20 years on a full repairing and insuring basis, commencing 15/10/2024. Carbana Ltd (Company No. 11330514) are rated 59 “Low Risk” on CreditSafe with a net worth of £2,277,412 at 31/12/2024. The lease is subject to a £15,000 rent deposit, and there is a rent review every 5 years to CPI (H) 2% and 4% collar and cap.
Following their opening day on the 8th February 2025, the car wash has been very successful, with strong levels of demand both throughout the week and over the weekend.
The site is let to Carbana Ltd for a term of 20 years on a full repairing and insuring basis, commencing 15/10/2024. Carbana Ltd (Company No. 11330514) are rated 59 “Low Risk” on CreditSafe with a net worth of £2,277,412 at 31/12/2024. The lease is subject to a £15,000 rent deposit, and there is a rent review every 5 years to CPI (H) 2% and 4% collar and cap.
Following their opening day on the 8th February 2025, the car wash has been very successful, with strong levels of demand both throughout the week and over the weekend.
PROPERTY FACTS
| Price | $1,208,479 | Property Subtype | Car Wash |
| Price Per SF | $2,416.96 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 7% | Building Size | 500 SF |
| Tenure | Freehold | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2024 |
| Price | $1,208,479 |
| Price Per SF | $2,416.96 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Tenure | Freehold |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 500 SF |
| No. Stories | 1 |
| Year Built | 2024 |
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200 Honiton Rd - Carbana Car Wash
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