4-bedroom flat · EX4 3FR
Let agreedListed 33 days · slow let
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Apartment 23 at Paternoster House is an expansive and unique four-bedroom HMO (house with multiple occupation), spread across the 3rd and 4th floors.
With two large bedrooms on each floor, this property offers an extraordinary amount of living space, perfect for those looking to share or for a large family.
This stunning apartment features vaulted ceilings upstairs, creating an airy, open atmosphere.
The downstairs bedrooms are spacious, while the upstairs bedrooms are filled with natural light, adding to the sense of openness.
The open-plan living area provides a perfect communal space for dining and relaxing, making this apartment ideal for those seeking both privacy and community.
Thoughtfully designed with modern finishes throughout, Apartment 23 merges functionality with comfort, all while maintaining the historic charm of the building.
Available from August 2027 The Developer - Nooko NooKo is a local developer focused on creating thoughtfully designed homes that cater to both the needs of residents and the local community.
With a commitment to sustainability, NooKo preserves the historical charm of buildings like Paternoster House while providing modern, comfortable living spaces.
Permitted Payments As well as paying the rent, you may also be required to make the following permitted payments.
Before the tenancy starts (payable to Francis Louis 'the Agent') Holding Deposit: 1 week's rent Deposit: 5 weeks' rent The holding deposit, the equivalent of one weeks rent, will be allocated to the first months rent once satisfactory references have been received.
The holding deposit is non refundable, if a tenant withdraws their application once referencing has commenced or, if misleading information is provided or information is withheld on the application form.
* Referencing charges do not apply to tenants of assured shorthold tenancies, student accommodation, or licences but may apply for other types of tenancy ie company lets and contractual tenancies.
Value & comps
No previous sales on record.
Rental comparables are shown in the Rental section below. Sold comparables remain for area capital context only.
Returns
We're still gathering serviced-accommodation data for this area.
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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 Flat 23, Paternoster House, Exeter
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