Property description
This substantial Grade II listed Georgian property offers a rare 11 bedroom investment opportunity in one of Exeter's most exclusive locations.
The property is one of five Georgian town houses and despite being so central the property is set back from the road with little to no foot traffic in front of the house, making it a pleasant and attractive environment to live.
The house has recently been sympathetically refurbished throughout and is fully compliant with current HMO standards. Set over 4 floors it has a garden to the front and private courtyard to the rear with some covered storage. Permit parking is available for Pennsylvania Crescent and surrounding areas.
It has proven very popular with local professionals and PHD students, with such good links to town and the university whilst still offering quiet and comfortable living. The main property has 2 kitchens and plenty of bathrooms and the garden flat is self contained with its own facilities; however there is the option to integrate this into the main house if desired. Rooms are offered fully furnished with a fixed monthly price for the utilities and communal services.
Currently consisting of 10 individual letting rooms and a separate garden flat, at the time of writing is fully occupied, generating a total gross income of £62,940 offering investors a healthy gross return of 7.3%. A full breakdown of the income details are available in our brochure.
Each tenant currently pays a £95 or £85 pcm fee to cover all of the utility bills, including council tax, cleaning & broadband. The bills are currently paid directly by the landlord and the monthly fees from the tenants are designed to cover the costs; tenancies are structured to allow this payment to rise and fall depending on current utility costs.
The property is being sold with all current tenancies in place, many of which are still within their 6 monthly minimum period.
Hellier Ridley Ltd are currently appointed as the managing agent for the building - details of our service and fees are available on request.
Tenure: Freehold
Property Status: Grade II Listed
Property Features :
- Rare investment opportunity returning 7.2% gross rental yeild
- Fully occupied by professional tenants
- Exclusive location
- Recently refurbished Grade II Georgian Townhouse
- Full details of income available on reuqest
Property Info: