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Floorplans (
Map
Area stats4 bedroom block of apartments for sale
New Bridge Street, Exeter
Recently added
Block of apartments
4 beds
4 baths
Key information
Features and description
- Investment opportunity
- Development opporunity
- 4 self contained flats
- Potential to increase rent
- Excellent location
SUMMARY FOUR 1 BEDROOM SELF CONTAINED APARTMENTS FOR SALE - A fantastic investment property comprising four 1 bedroom rental self contained apartments, two of which are still currently occupied, when fully occupied the apartments have been generating a yearly net income of £29,520. There is the potential to significantly increase the rents either by increasing the rents to match current market levels or there is the potential to renovate, reconfigure or completely redevelop the site.
Located in a highly desirable central area at the bottom of Fore Street, this is perfectly position for the city centre, St Thomas and local transport links. Fore Street boasts numerous speciality and alternative shops, many of them independents, hidden away within little arcades along the route, this is an up and coming area with the investors looking at sites to develop along with proposed new student accommodation. This property presents an excellent opportunity for investors.
The property also has a lockable bin store and basement/store room which could have the potential to be developed into a self-contained apartment.
Property Tenure: Freehold (please note each flat does not hold individual leaseholds).
Council Tax: Each flat has a separate council tax band all comprising of an A.
EPCs:
21 New Bridge Street - C
22 New Bridge Street - C
22a New Bridge Street - D
22b New Bridge Street - D
LETTINGS INFORMATION The flats have achieved and achieving the following rents which are not reflective of the current market value (please see below lettings potential)
21, 1 bedroom, 47 sqm - £575pcm
22, 1 bedroom 34 sqm - £595pcm
22a, 1 bedroom 40 sqm - £595pcm
22b, 1 bedroom 47 sqm - £695pcm
Lettings Potential - Rosewood Property Lettings Department have put an estimate monthly rental of £750pcm if they came back to the market now as they are. This provides a rental yield of approx. 6.9%.
They have a potential to achieve £850pcm with some selective modernisation/improvement. This provides a yearly rental yield of approx. 7.8%.
If you would like further information regarding this or any aspect of letting a property, please contact our Lettings Department.
SERVICES Electricity supply: Mains electricity
Heating supply: Night Storage Heaters
Sewerage: Mains
Water Supply: Mains
Mobile signal: Several networks showing as available including EE, Vodaphone, 3 and 02
Broadband: Standard, Superfast and Ultrafast
Located in a highly desirable central area at the bottom of Fore Street, this is perfectly position for the city centre, St Thomas and local transport links. Fore Street boasts numerous speciality and alternative shops, many of them independents, hidden away within little arcades along the route, this is an up and coming area with the investors looking at sites to develop along with proposed new student accommodation. This property presents an excellent opportunity for investors.
The property also has a lockable bin store and basement/store room which could have the potential to be developed into a self-contained apartment.
Property Tenure: Freehold (please note each flat does not hold individual leaseholds).
Council Tax: Each flat has a separate council tax band all comprising of an A.
EPCs:
21 New Bridge Street - C
22 New Bridge Street - C
22a New Bridge Street - D
22b New Bridge Street - D
LETTINGS INFORMATION The flats have achieved and achieving the following rents which are not reflective of the current market value (please see below lettings potential)
21, 1 bedroom, 47 sqm - £575pcm
22, 1 bedroom 34 sqm - £595pcm
22a, 1 bedroom 40 sqm - £595pcm
22b, 1 bedroom 47 sqm - £695pcm
Lettings Potential - Rosewood Property Lettings Department have put an estimate monthly rental of £750pcm if they came back to the market now as they are. This provides a rental yield of approx. 6.9%.
They have a potential to achieve £850pcm with some selective modernisation/improvement. This provides a yearly rental yield of approx. 7.8%.
If you would like further information regarding this or any aspect of letting a property, please contact our Lettings Department.
SERVICES Electricity supply: Mains electricity
Heating supply: Night Storage Heaters
Sewerage: Mains
Water Supply: Mains
Mobile signal: Several networks showing as available including EE, Vodaphone, 3 and 02
Broadband: Standard, Superfast and Ultrafast
Area statistics
Crime score
High crime
10/10
About this agent
We are a local family run business, have over 30 years’ experience of selling and the management of student investment HMO’S, portfolios, residential HMO’s and buy to lets, there is a wealth of experience and knowledge within our business, that is why we are Exeter’s leading selling agent for these types of property investments and portfolios. There is also a range of acquisition services we also offer to clients who prefer to have a really knowledgeable expert by their side investing within property. In addition to this part of our business we are also able to source various land/development opportunities not only locally but also nationally, therefore if you are a developer or want a self-build opportunity please get in touch and register with us. If you are looking to dispose of a development please also get in touch and we can guide you through the various options you have to sell. Our professionals are experts and have a combined experience of over 50 years working within the industry selling and letting thousands of homes. Senior members are proud members of either the National Association of Estate Agents (NAEA) or the Association of Residential Letting Agents (ARLA)