New Bridge Street, Exeter

This property presents an intriguing investment opportunity, consisting of four self-contained one-bedroom apartments. Currently, two apartments are occupied, generating a steady annual net income of £29,520. However, there is a notable potential for rental enhancement, either by aligning current rents with market trends or through substantial renovations that could improve the overall property value. The possibility of reconfiguration or complete redevelopment further amplifies its attractiveness for savvy investors. Situated in a sought-after central location along Fore Street, the property benefits from proximity to city amenities, transport links, and a vibrant mix of independent shops and local businesses. This area is gaining traction among investors contemplating development projects alongside planned new student accommodations. Additionally, the presence of a lockable bin store and basement/store room offers further scope for creative redevelopment to create additional living spaces. With each flat assigned a separate council tax band (all rated A), this freehold property could significantly outperform its current rent levels which are below market value when considering recent estimates provided by local letting agents. Improvements could lead to achievable rents of around £850 per month per unit after selective modernization.