1 Pennsylvania Crescent, Exeter - £827500
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.
Property Status: Grade II Listed
To arrange a viewing please contact us on 01392 340 936 or send us an email at firstname.lastname@example.org
MONEY LAUNDERING REGULATIONS 2003 intending purchasers will be asked to produce identification and proof of financial status when an offer is received. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
THE PROPERTY MISDESCRIPTIONS ACT 1991 The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. You are advised to check the availability of this property before travelling any distance to view. We have taken every precaution to ensure that these details are accurate and not misleading. If there is any point which is of particular importance to you, please contact us and we will provide any information you require. This is advisable, particularly if you intend to travel some distance to view the property. The mention of any appliances and services within these details does not imply that they are in full and efficient working order. These particulars are in draft form awaiting Vendors confirmation of their accuracy. These details must therefore be taken as a guide only and approved details should be requested from the agents.