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See how verdicts work1-bedroom flat · EX14 1AA
Listing removedListed 706 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Well-presented apartment in a retirement complex for residents aged 60+. Conveniently located within a short, level walk to the High Street.
Briefly comprising hallway, living room, kitchen, bedroom and shower room. Also benefits communal areas including a lounge, gardens and laundry room. No onward chain.
Secure communal entrance giving access to the lift or stairs for the upper floors. Entrance hall with a good size airing/storage cupboard and access to all rooms.
The living/dining room is a good size with archway opening into the kitchen. Range of wall and base units with space for fridge/freezer and cooker.
The spacious bedroom has a built-in wardrobe and there is a modern fitted shower room with large walk-in shower cubicle. Residents can enjoy the communal lounge and gardens.
There are residents and visitors parking, a laundry room and a guest suite for visitors. Material Information: EPC Rating: C East Devon District Council. Tax Band:A. Leasehold.
125 year lease from 1987. Service Charge: From 01.03.24 is £2053.10 6 monthly. Ground Rent: £247.10 6 monthly.
We understand charges include: Water & sewerage, buildings insurance, exterior window cleaning, telephone entry system, maintenance of communal areas, house manager and emergency call alarms.
Services & Heating: Mains electric, water and drainage. No mains gas. Electric heating. Parking: Residents parking bays. Not allocated.
Location: Homelace House is situated in a level location with easy access to the High Street and many of the towns amenities.
Honiton has many amenities including supermarkets and independent traders, library, active community centre, doctors surgery and hospital, Churches, leisure centre with swimming pool and gym, bus services and a railway station with regular services to Exeter and London Waterloo.
Directions: What3words: ///first.hips.bunny
Value & comps
No previous sales on record.
Returns
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We're still gathering serviced-accommodation data for this area.
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
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FAQ
About 9, Homelace House, Honiton
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