This mixed-use investment property in the heart of Axminster presents a compelling opportunity for renovation and growth. Featuring a recently re-roofed, three-storey Grade II Listed building, it accommodates a ground floor restaurant currently operating as Belluno Italian Restaurant, alongside three residential flats above. The restaurant benefits from a secure 10-year commercial lease generating an annual income of £22,500 without tenant break clauses and with scheduled rent reviews every five years.
The residential units comprise two vacant flats and one currently occupied flat. While these flats are partly refurbished, they require further modernisation to unlock their full rental potential—a projected annual value of approximately £24,000 upon completion of renovations. Accessed via the western side of the building, Flat 1 is a generous two-bedroom apartment on the first floor; Flat 2 is a unique one-bedroom apartment on the second floor featuring a mezzanine; and Flat 3 is also a one-bedroom unit.
Situated prominently at the intersection of Church Street and West Street, this property enjoys significant foot traffic due to its central location within Axminster—a vibrant market town bolstered by excellent transport links including mainline rail services to Exeter and London Waterloo. Investment in this property will not only enhance its residential appeal but also maximise its commercial potential in an area known for its mix of independent businesses and national brands.
