Powderham Crescent, Exeter

A well maintained, licensed, 7 bedroom HMO which is currently let out as individual units (typically working professionals as opposed to students). With the current tenants in situ, the gross annual revenue is £47,160. The property is configured as one self contained flat (with separate council tax) and six rooms/bedsits. All of the units contain kitchenettes and two have private showers. Each unit is let with an individual Assured Shorthold Tenancy agreement.

To the rear of the building is a courtyard garden, laid mainly to gravel. This space is currently used privately by flat 2.

The overall condition of the property is very good, with regular upgrades being made to each unit as required.

Powderham Crescent is a popular road, situated in an ideal location close to the city centre, University and St James Park train station. The property occupies a pleasant position overlooking allotments to the rear with the railway line beyond. The owner of the property benefits from use of the communal garden opposite, for which there is a maintenance charge of £25 per annum. Residents on street parking is available.

At present the property is fully tenanted. As a going concern it represents an excellent investment opportunity with immediate revenue. There is also potential for other uses such as conversion to a single dwelling.

Please note, the photographs shown are archive shots, taken prior to the current tenancies.

Local Authority: Exeter City Council, Tax Bands - E & A (Flat 2)Tenure: Freehold
Parking: On street residents parkingHeating: Gas Central HeatingServices: Mains water and drainageEnergy Efficiency Rating: EFlood Risk- this is deemed to be no risk for rivers and seas, very low for surface waterInternet:-We understand that ultrafast broadband can be found in this locality.Mobile Phone Signal: Several networks are currently displayed as available at the propertyAGENT'S NOTETo conform with government Money Laundering Regulations 2019, we are required to confirm the identity of all prospective buyers once any sale is agreed, and check proof of funding. We use the services of a third party, Thirdfort, an FCA registered company, who will contact you directly to do this. They will need the full name, date of birth and current address of all buyers. There is a nominal charge of £20 including VAT for this, (per person), payable direct to Robert Williams Estate Agents. Details will be provided upon request. Please note, we are unable to issue a memorandum of sale until all the required mandatory checks are complete.