1-bedroom flat · EX34 0PL
Listing removedListed 114 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
OVER 60s can secure this property with a HOME FOR LIFE from HOMEWISE Through the Home for Life Plan from Homewise, those AGED 60 OR OVER can purchase a Lifetime Lease and a share of the property value to safeguard for the future.
The cost to purchase the Lifetime Lease is always less than the full market value. OVER 60s customers typically save between from 20% To 50%*.
Home for Life Plan guide price for OVERS 60s: The Lifetime Lease price for this property is £83,750 based on an average saving of 33%.
Market Value Price: £125,000 The price you pay will vary according to your age, personal circumstances and requirements and will be adjusted to include any percentage of the property you wish to safeguard.
The plan allows customers to purchase a share of the property value (UP TO 50%) to safeguard for the future.
For an indication of what you could save, please use our CALCULATOR on the HOMEWISE website. Please CALL for more information or a PERSONALISED QUOTE.
Please note: Homewise DO NOT own this property and it is not exclusively for sale for the over-60s.
It is being marketed by Homewise as an example of a property that is currently for sale which could be purchased using a Home For Life Lifetime Lease.
If you are not OVER 60 or would like to purchase the property at the full market value of £125,000, please contact the estate agent Webbers.
PROPERTY DESCRIPTION 41 Spurway Gardens is a purpose built ground floor flat with its own private front door, offering comfortable accommodation and a layout that has been altered to favour larger living space over bedroom number.
Formerly a two double bedroom flat, it is now arranged as a one double bedroom home with a separate dining area opening from the lounge, creating a more open and adaptable arrangement that may suit a range of buyers.
The private entrance opens into the hallway, where the kitchen is positioned immediately to the right.
It is fitted with a range of wall and base units and includes a built in electric hob and oven, together with space for a fridge freezer and under counter space for a washing machine.
Back in the hall, there are two useful storage cupboards which add valuable practicality to the layout. Also off the hallway is the shower room, fitted with a wash basin, WC and electric shower.
At the end of the hall is the main bedroom, which is a generous double room and provides comfortable sleeping accommodation with space for further furniture.
Opposite the shower room is the main lounge, a good size reception room with sliding doors opening to the rear and an electric fire with white surround creating a focal point.
An archway leads through to the dining space at the front of the property, which gives the flat added flexibility and could suit dining, hobbies or occasional work from home use.
This area could also potentially be converted back into a second bedroom, subject to any necessary planning or other consents.
The property benefits from gas central heating, wood effect UPVC double glazing and all mains services connected.
Outside, the communal grounds are an attractive feature of the development, with lawned gardens and colourful well stocked flower bed borders to the front of the block.
To the left hand side there is a wider communal lawned area which is ideal for small children to use, while both sides of the block provide access around the building.
On the right hand side there is a communal bin store and drying area, and to the rear there are allocated off road parking spaces for each flat together with two visitor spaces.
The flat also enjoys pleasing views over nearby houses towards the surrounding countryside.
With no onward chain and scope to improve over time, it represents an appealing option for a first time buyer, someone seeking a manageable retirement home or a buyer looking for an investment in a popular coastal village.
AGENTS NOTE: The property is leasehold with the balance of an original 999 year lease. The freehold is vested within the Management Company which made up by the 6 owners.
The service charge is currently running at ?20 per month and this includes the maintenance of the common and external areas and the buildings insurance.
We understand from the vendor that assured short hold and holiday letting is allowed within the building and pets are also permitted.
The information provided about this property does not constitute or form part of an offer or contract, nor may be it be regarded as representations.
All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents.
All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed.
Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose. Suitable as a retirement home.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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.
Area
Agent & docs

FAQ
About Spurway Gardens, Combe Martin, Ilfracombe, Devon, EX34
Explore nearby