This extensive property in the desirable village of Alphington, Exeter, presents a compelling opportunity for both renovation enthusiasts and investors seeking to maximize returns. With 12 bedrooms spread across multiple self-contained units, this asset not only delivers immediate income potential but also offers significant scope for development.
Strategically located near critical transport routes including the A30 and M5 motorways, this property benefits from convenient access to Exeter's vibrant amenities, making it attractive to a variety of tenants, including professionals and students. The surrounding area boasts a mix of beautiful Devon countryside and local conveniences, enhancing its appeal as a rental location.
The main building has undergone thoughtful renovations, currently configured into four self-contained units alongside eight spacious rooms equipped with kitchenettes. This setup encourages diverse rental strategies while ensuring compliance with modern safety standards. Features such as keyless entry and a newly refurbished exterior add to the overall functionality of the property.
Investors will appreciate the dual strategy presented by this property. The first option is a long-term lease arrangement that guarantees an annual income of £97,000 with built-in increases. This passive investment route minimizes management concerns while providing stable returns over an extended period.
Alternatively, active investors can opt for complete control over the asset by choosing to reject the lease and focus on maximizing its potential through hands-on management. This includes leveraging existing units for rental income immediately while also seizing the opportunity to convert an additional barn on-site into a five-bedroom dwelling, subject to planning permission. Such a development could considerably boost revenue streams and overall property value.
The total potential across this site could reach up to 17 bedrooms post-conversion, presenting an advantageous prospect in Exeter's competitive rental market. Alongside these opportunities, the current ownership structure allows for flexibility; prospective buyers can consider acquiring an existing limited company tied to the property—possibly affording tax efficiencies.
In summary, this property merges immediate cash flow generation with valuable long-term investment options. It is available for sale with vacant possession, allowing new owners the choice between capitalizing on established passive income or pursuing active development strategies tailored to their investment goals.
