Gladstone Road, Exeter EX1
South West
£180,000
Listed on 10/09/2026
Listed on 10/09/2026
The listing
Property details
Bedrooms
—Type
LandArea
1001 sqftDescription
A development site of approximately 0.033 acres between Heavitree and St Leonards, with convenient access to Exeter city centre, Waitrose, schools, the university and transport links. The site is currently used as a concrete yard with garages and is offered freehold with vacant possession by private treaty.
Two separate planning permissions have been granted for new three-bedroom homes: a three-storey dwelling attached to No. 3 Gladstone Road, and an end-of-terrace, two-and-a-half-storey dwelling following demolition of the garages. Both permissions have pre-commencement conditions. The particulars state that there are no services connected, although mains water and electricity are understood to be available nearby. Buyers should verify service connections, access, title matters and planning conditions independently. Community Infrastructure Levy is currently understood to be £27,764.64 for both dwellings, subject to indexation and any successful relief application.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
49out of 100
Grade ELow opportunity
Confidence: LOW
At £180,000, the site is offered at £180/sqf against a local average of £343/sqf, making the asking price a clear acquisition opportunity. The overall WHOTS score is still low at 49/100: this is a development proposition rather than a house to renovate, and the economics score is limited because the available information does not establish renovation economics.
The concrete yard and existing garages provide a blank canvas for the two three-bedroom homes covered by separate planning permissions, with access from Gladstone Road and Sandford Walk and a convenient position between Heavitree and St Leonards. Both consents have pre-commencement conditions to check; services are not connected, and the stated CIL liability is £27,764.64, subject to indexation. With no renovation range available, the build budget and programme need careful assessment.
Key opportunities
- Create two separate three-bedroom homes under the granted planning permissions, subject to confirming conditions and delivery requirements.
- Rework the concrete yard and garage plot into residential space, with access shown from both Gladstone Road and Sandford Walk.
- Acquire at £180,000, well below the local average on the stated £/sqf comparison.
Key risks
- The concrete yard, garages and unconnected services make this a ground-up delivery programme rather than a cosmetic refresh; establish the build budget and timeline before proceeding.
- Both permissions have pre-commencement conditions, and the stated CIL liability is £27,764.64 for both dwellings, subject to indexation.
- Confirm the availability and cost of mains utility connections, as none are currently connected to the site.
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Finance
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Illustrative repayments based on the asking price, not a mortgage offer.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£680
Based on a loan of £135,000 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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