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See how verdicts work2-bedroom flat · EX13 5NE
Listing removedListed 165 days
Opportunity summary
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About
A spacious two bedroom ground floor apartment with secure allocated parking, a private west facing terrace being within easy walking distance of the town centre. No onward chain.
The Property This modern apartment is located on the ground floor and is only one of four within Mellowes Court to feature its own private terrace which offers pleasant views over Axminster and the countryside beyond.
The well-appointed accommodation includes an entrance hallway, large open plan dual aspect kitchen/living room with fitted oven, hob, fridge/freezer and dishwasher, two bedrooms (recently refurbished en-suite to master bedroom) and bathroom.
The bathroom has been reconfigured from its original design to offer additional storage and space for a washing machine and tumble drier.
The bath has been removed but could be reinstated, as the previous plumbing remains in situ. Double glazing and updated electric heating throughout.
The building has an entry phone system along with lift access to all floors including the secure underground car park.
Please note that this property is subject to an approved over 55’s occupancy clause.
Outside The apartment has the benefit of a private terrace which is accessed via the patio doors in the living room.
The secure parking is located on the lower ground floor with access either through the electronically operated gates or from the lift which is centrally located within the building by way of secure key access.
There is also a private storage cupboard with lighting located in the parking area and a communal laundry drying area.
Situation The property is situated in a most convenient position only a few minutes walk from the town's Minster and the shops.
Axminster is a bustling market town on the eastern fringes of Devon, close to the border with West Dorset and South Somerset.
The town has a selection of national and independent retailers, doctor surgery and dentists. There is a well supported country produce market held in Trinity Square every Thursday.
The beautiful Axe Valley with its renowned bird sanctuary reaches the sea at Seaton (6 miles) and the famed beaches of the World Heritage Jurassic Coast and the resort of Lyme Regis are at a similar distance.
Exeter (M5) is 24 miles, and Taunton 20 miles. Axminster train station that is on the direct line to London Waterloo to Exeter line.
Directions What3Words ///angry.went.monks Services Mains electric, water and drainage.
Broadband : Superfast broadband available Mobile Network Coverage : There is mobile coverage in the area, please refer to Ofcom’s website for more details.
Source - Local Authority East Devon Council Tel : Council Tax Band: B Material Information 1.) The area around the property is at low risk from flooding from rivers and seas, and from surface water.
2.) The property is subject to a 125 year lease from 29th September 2005. 3.) Service and maintenance charge 2025/26 –£2,418 per annum. Ground Rent 2025/26 – £379 per annum.
4.) The apartment is subject to an over 55’s occupancy restriction.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 5, Mellowes Court, Axminster
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