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See how verdicts work2-bedroom flat · EX34 9FF
Listing removedListed 256 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
38 Lantern Court is a modern two-bedroom apartment offers a bright, open-plan living space with an easterly view over St James Park and Hillsborough Headland.
Situated on the quiet third floor, it’s conveniently near the lift and communal facilities of Lantern Court.
The apartment features a fitted kitchen with integrated appliances, two double bedrooms, and a bathroom with both a bath and separate shower with a easterly orientation, ensuring plenty of morning sunshine and natural light.
Completed in 2012, Lantern Court is a contemporary development designed for independent living for those over 60.
The location offers stunning views of Ilfracombe Harbour, Lantern Hill, Capstone, the Bristol Channel, and the Welsh coast.
Local amenities such as the Post Office, Pharmacy, and Supermarkets are within walking distance, with St James’s Park adjacent to the property.
The development includes excellent communal facilities like a Homeowners lounge with a balcony offering coastal views, a mobility scooter store, a laundry room, and landscaped gardens with a harbour viewing deck.
The House Manager oversees the development, and there’s a 24-hour emergency call system for peace of mind. A guest suite is available for a small charge.
The community is friendly and active, with a variety of activities to suit everyone. Homeowners can choose to participate in activities as they wish.
The apartment’s entrance hall includes a security system, a store cupboard, and a cupboard housing the boiler.
The open-plan living area is spacious, with large windows offering park and coastal views, and a modern kitchen with integrated appliances.
Bedroom one has a walk-in wardrobe, while Bedroom two features a built-in wardrobe. The bathroom includes a modern suite with a separate shower cubicle and bath.
The apartment is heated by 'Dimplex' panel heaters, and car parking is available by annual permit, subject to availability. Our House Manager can provide further details.
AGENTS NOTE: The property is leasehold with the balance of an original 125 year lease which commenced in 2012.
We understand that the service charge for the coming year is £189.64 per month and includes maintenance of the common and external areas, window cleaning the building insurance and water rates.
The ground rent charge is £425 per annum and this is currently paid in two installments every 6 months of £212.50.
Pets are allowed in the building if you currently have one but once that pet passes away a replacement is not allowed.
We understand that the property can be let but occupants must comply with the over 60's criteria.
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
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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.
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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 38, Lantern Court, Hillsborough Road, Ilfracombe, Devon, EX34
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