Southernhay West, Devon, EX1
South West
£450,000
Listed on 14/10/2026
Listed on 14/10/2026
The listing
Property details
Bedrooms
5Type
TerracedDescription
This Grade II* listed Georgian building on Southernhay West is currently arranged as offices and extends to approximately 3,859 sq ft over five floors. Residential conversion consent has been granted by Exeter City Council under planning reference 26/0239/FUL, with illustrative plans showing a possible five-bedroom home with substantial reception and leisure space. The plans, measurements and proposed uses should be checked independently, and any required listed-building and statutory consents confirmed.
The property retains a red-brick façade, sash windows, high ceilings and classical proportions. It is offered freehold and is described as maintained to a good standard, providing a starting point for conversion from its existing commercial layout. Southernhay is close to Exeter Cathedral, shops, restaurants, cultural venues and the historic quayside, with road and rail connections and access to the surrounding countryside and coast.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
78out of 100
Grade BGood opportunity
Confidence: MEDIUM
At £450,000, this Grade II* Georgian building is priced exceptionally keenly against the local £/sq ft benchmark, making the acquisition price a major part of the opportunity. Its red-brick frontage, sash windows, cornices, fireplaces and generous proportions offer a distinctive canvas, and the listing says residential conversion consent has been granted for a substantial five-bedroom home. Verify the consent, conditions and any listed-building approvals before proceeding.
The property is currently arranged as offices, with commercial carpets and fluorescent lighting visible in several rooms; one ceiling also shows peeling or damaged finish. That leaves scope to shape the interiors around residential use while working sensitively with the period character. The visible frontage and roof appear generally maintained, and the photographs show some attractive period detailing.
Key opportunities
- Rework the five-floor, approximately 3,859 sq ft office layout into the proposed five-bedroom home, with generous reception and flexible leisure space.
- Bring out the building’s sash windows, cornices, fireplaces and arched openings in a sensitive conversion of this distinctive Georgian property.
- Acquire at an asking price well below the local £/sq ft benchmark, leaving scope to create value through the residential conversion.
Key risks
- The office arrangement, commercial finishes and visible ceiling damage make this a substantial conversion and making-good programme, not a cosmetic refresh; budget and programme should allow for sensitive work to a Grade II* listed building.
- Confirm the granted residential consent, its conditions and any required listed-building approvals before relying on the proposed layout.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£1,700
Based on a loan of £337,500 over 30 years at 4.45% interest
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
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