We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work2-bedroom flat · EX2 4BJ
For saleListed 96 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Description 2 School House is a charming garden apartment, a true hidden gem. Nestled within a new development in the heart of town just a short walk to the local Magdalen Road shops.
Accessed via it own private courtyard garden, this ground floor property offers a perfect blend of modern living and character charm.
The spacious open-plan living, kitchen and dining area is ideal for entertaining and with a door to Bedroom 3 that could lend itself to becoming a formal snug/living room if required.
The sleek kitchen is equipped with top-of-the-line appliances, Silestone worksurfaces and ample storage space.
At the opposite end of the apartment across the spacious hall are two bedrooms, with the principal bedroom benefitting from a luxurious en suite shower room.
Step outside to your private garden, a tranquil oasis perfect for relaxing or hosting al fresco gatherings.
With allocated parking and being offered with no chain, this property is an excellent opportunity for those seeking a stylish and hassle-free lifestyle.
About St Margaret's: Originally built as single houses, the site was acquired by St Margaret’s and converted into a school in the 1920s, which welcomed local pupils through its doors well into the 21st century.
St Margaret’s has now returned to its original use as Exeter-based developer, Grenadier, redevelops the Grade II and Grade II* listed buildings into energy efficient homes for the area.
The redevelopment celebrates, preserves and sensitively restores features reminiscent of the eras through which St Margaret’s has evolved: Including the Georgian high ceilings with delicate coving, elegant staircases and marble fireplaces, as well as the Edwardian stained-glass windows and ornate Ironwork banisters.
Situation St. Margaret's Residence is located in the heart of St. Leonards, close to the famous 'village shops' of Magdalen Street, City Centre and excellent local amenities.
Exeter provides a number of outstanding private and state schools at all levels, together with a Red Brick university, expanding college and the Royal Devon and Exeter hospital.
The City affords brilliant sports and leisure facilities, being situated on the river, and offers a selection of theatres, cinemas, museum, cathedral, football, rugby and leisure centres.
Rail links to London Paddington around two hours. Exeter Airport is around five miles away providing regular air services to the UK and International destinations.
Directions From Paris Street roundabout follow Western Way. Turn left into Magdalen Road, follow Magdalen Road beyond the shops and Mount Radford Public House.
Approx 400m after passing the Mount Radford Public House; St Margaret's Residence, EX2 4BJ will be on your left.
What3Words - worm.outer.shine Kitchen / Sitting / Dining Room 7.16m max x 7.14m max Utility 2.87m max x 2.03m Bedroom 1 (4.2m x 3.58m) En Suite Bedroom 2 (4.32m x 2.9m) Bedroom 3 (3.9m x 3.15m) Family Bathroom Services: The developer has advised the following: Central Heating and Hot Water provided via gshp.
Mains Electricity, Water and Drainage. Underfloor heating to bathroom – wet system. Telephone landline not currently in contract. Broadband not currently in contract. Approx.
Download and upload speeds currently unknown. Mobile signal: Several networks currently showing as available at the property. Electric vehicle charging point installed in communal parking area.
EER:B Agents Note: The Vendor advises that these Apartments will have Leases of 999 years commencing 2023. There will be a peppercorn ground rent in place.
The Vendors advise that the properties will be subject to an Annual Service Charge for the costs of upkeeping and maintaining common areas and individual blocks.
The service charge will be operated in an open and transparent manner by a managing agent.
Budgeted Annual Service Charge is to be £3,437.10, this is calculated based on the square footage of the apartment and what percentage of the building it occupies.
Rather than charge residents for heating and hot water, the maintenance and energy used by the Ground Source Heat Pump (gshp) equipment will instead be included in the service charge.
Agents Note: Please note that some of the images used have been digitally staged.
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
.png)
FAQ
About Apartment 2 School House,, St Margaret's Residences, Exeter
Explore nearby