1-bedroom property · EX2 5PW
Sold STCListed 249 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A one bedroom retirement apartment for over 60's built by McCarthy & Stone circa 2007 with living room, kitchen, shower room and one bedroom. The block is currently managed by Churchill Living.
The property is being sold with no onward chain.
The Property The internal accommodation features one double bedroom with built in wardrobes, modern shower room, well fitted kitchen with integrated appliances, extensive store cupboard and large living room.The development has unallocated residents parking, communal gardens, laundry and guest suite.The service charge includes communal area upkeep, gardening, window cleaning, lift, 24 hour care line, house manager and water/sewerage charges.
The Location This property is situated in the Heavitree area of Exeter with its good range of local shops, including supermarkets and a post office.
There is a regular bus service to the city centre and easy access out of the city with local road links to the M5 and other major routes.The RD&E hospital is located nearby.
Directions Driving out of Exeter city centre on Magdalen Road turn right into Fore Street and head through Heavitree High Street then at the traffic lights at the bottom of the hill turn right into Butts road and Meyer Court is directly on the right hand side.
Services- Tenure Leasehold Exeter City Council Tax Band B Lease: 125 years from 2006 so 106 years remaining.
Service Charge: £1481.30 Twice a Year Ground Rent: £197.50 Twice a year Age: Meyer Court requires at least one apartment resident to be over the age of 60 with any second resident over the age of 55.
Parking- Residents unallocated. Services: Mains, water , electricity and drainage.
Heating: Electric Storage Heaters Flooding- this is deemed to be Very Low for Rivers and Seas, Very Low for Surface water Internet- We understand that standard & superfast broadband can be found in this locality providing a download speed up to 80Mbps Mobile Phone Signal- Several networks are currently displayed as available at the property.AGENT'S NOTES It is our understanding that a 1% contribution of the final selling price to the contingency fund will be payable by the Seller upon completion of any sale.
To 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, We will require the full name, mobile phone number and current address of all buyers.
There is a nominal charge of £24 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.
It is a mandatory requirement for a Sales or Lettings Agent to be part of a redress scheme, we have membership with The Property Ombudsman (a government approved redress scheme).
It is a mandatory requirement for a Lettings Agent to be part of a Client Money Protection scheme, we have membership with Propertymark (a government approved client money protection provider).
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.
Area
Agent & docs
FAQ
About Butts Road, Exeter
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