7-11 North Street, Exeter, EX4 3QS

This detached house presents an exceptional opportunity for savvy investors and developers looking to capitalize on a prominent location in Exeter city centre. With an asking price of £725,000, this property stands out as significantly below the local average at just £50/sqf compared to £328/sqf. This is a prime chance to acquire a site with planning permission already granted for an extension and internal alterations that will transform it into nineteen flats, along with the potential for additional development.

However, the property requires extensive refurbishment, as both the exterior and interiors show considerable wear and need modernisation. The scale of works is substantial, with a renovation budget estimated between £150,000 and £300,000, indicating a full-gut programme is necessary rather than a cosmetic refresh. While the existing ground floor retail unit currently generates an annual income of £28,000, it is essential to consider that this income may be limited compared to the potential revenue from the proposed residential units.