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See how verdicts work2-bedroom flat · EX17 2DB
Listing removedListed 832 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Tenure: Leasehold Avenue House sits proudly on the upper part of Searle Street, just a short walk into the High Street for amenities and public transport or continue up the hill and you’re instantly amongst the open green spaces of People’s Park.
The building itself is prominent in the landscape, a grand red brick building, set back from the street and the original house was converted into 5 flats a number of years ago.
It’s managed by the owners/residents who control the freehold meaning it’s kept well and works are done as needed.
The flat itself is on the top floor and is very spacious totalling 72sqm (775sqft) with a communal, wide staircase access from the ground entrance door to the front door of the flat on the third floor.
Being on the top floor, there’s no one above you and the views from the flat are beautiful over the town’s rooftops with the sun into the kitchen and living room in the morning and it swings to the rear and into the bedrooms towards the end of the day.
The flat has had a complete renovation in the past 3 years and is now beautifully presented throughout with little or nothing for a new owner to do.
The property was re-wired, re-plumbed, insulated, with new kitchen, bathrooms and carpets, and recently a Quantum Dimplex High heat retention storage heater has been installed, which make for a comfortable and contemporary loft style apartment with decorative coving.
The layout offers a spacious living room with room for a table and chairs, a well fitted kitchen with integrated oven and hob and then a stunning shower room from the hallway, ideal for the bedrooms or indeed guests.
There are 2 bedrooms, one which has a W/C.
There is no garden but People’s Park is a 30 second walk away and there is an allocated parking space at the front included with the sale, a lovely addition to a town property of this type.
The 5 flats own the freehold between them with each owner being a member of the management committee giving complete control. Please see the floorplan for room sizes.
Current Council Tax: Band A – Mid Devon 2024/25- £1664.05 Approx Age: C.
1910 Construction Notes: Brick under slate Utilities: Mains electric, water, telephone & broadband Broadband within this postcode: Superfast Enabled Drainage: Mains drainage Heating: Electric, including Dimplex Quantum high heat retention storage heater, linked to smart meter.
Annual estimated cost of electricity is £1,122. Listed: No Conservation Area: Yes Tenure: Ground Rent and Maintenance Charge combined is £1,000 per annum, plus buildings insurance.
Each of the five flat owners also owns a 1/5th share of the building freehold. Buyers’ Compliance Fee Notice - Please note that a compliance check fee of £25 (inc.
VAT) per person is payable once your offer is accepted. This non-refundable fee covers essential id verification and anti-money laundering checks, as required by law.
Crediton An ancient market town, with a contemporary feel – only a short, 20-minute drive nw from the city of Exeter.
Set in the Vale of the River Creedy, amongst gentle, rolling hills and verdant pastures. Sincerely picture postcard.
Once the capital of Devon, Crediton is famed for its inspiring sandstone church and for being the birthplace of Saint Boniface in 680 ad.
Its high street is a vibrant place, abuzz with trade –artisan coffee shops, roaring pubs, a farmers’ market and bakeries, jam-packed with mouthwatering delights.
For those commuting it has hassle free transport links into Exeter and for schooling a prestigious community college (Queen Elizabeth’s).
In addition, it boasts a brilliant gym & leisure centre for New Year’s resolutions, two supermarkets for the weekly shop and a trading estate for any practical needs.
All neatly held in a single valley. Directions : For sat-nav use EX17 2DB and the What3Words address is ///guarded.guard.unsigned but if you want the traditional directions, please read on.
From Crediton High Street, turn into Searle Street and head up the hill. Avenue House will be found about three quarters of the way up on the left.
For viewings please park on the street nearby although there is a parking space with the flat and if needed, please request with agent for details. EPC Rating: E
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.
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.
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FAQ
About Flat 5, Avenue House Searle Street, Crediton
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