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See how verdicts work2-bedroom house · EX2 5TQ
For saleReduced £8.6k (−6.2%) on 25 OctListed 180 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This well appointed and spacious 2 bedroom apartment is accessed at ground floor level through the building while being above lower ground floor apartments and commanding attractive elevated views.
The newly decorated property has been kept in excellent condition and provides light and airy accommodation with all rooms benefitting from newly laid carpets.
Mowbray Court is one of Exeter’s most popular retirement developments conveniently situated close to Heavitree shopping centre, bus stop and Heavitree Pleasure Park, arguably the most popular park in Exeter and now with vibrant café/community hub venue.
This particular flat enjoys a quiet, tucked away position with picturesque views across well kept communal gardens.
Mowbray Court is renowned for its beautiful grounds and offers the perfect environment for those seeking secure independent living.
This retirement complex benefits from having an on-site resident House Manager for added security and peace of mind, mobility scooter store, residents' car park and an excellent range of communal facilities and social events.
Strong interest anticipated and early viewings recommended.
Private Entrance Hall - 2.645m x 1.714 (8'8" x 5'7") - Lounge/Dining Room - 5.353m x 3.388m (17'6" x 11'1") - Kitchen - 2.730m x 1.730m (8'11" x 5'8") - Bedroom 1 - 5.316 x 2.876 (17'5" x 9'5") - Bedroom 2 - 3.421m x 2.659 (11'2" x 8'8") - Bathroom - 2.070m x 1.672m (6'9" x 5'5") - Mowbray Court Information - Mowbray Court is conveniently situated within just a few minutes easy walking distance of Heavitree’s comprehensive shopping centre, pleasure park and a nearby bus service offering regular bus service to and from the city centre.
Mowbray Court – is an 'independent living' retirement complex of 60 flats set in beautiful grounds of about 4 acres set back from Butts Road.
There is a communal lounge and kitchen area with access afforded from the lounge onto a patio area with outside seating.
Here, you can sit and relax with friends while enjoying the picturesque view across the beautifully maintained communal gardens.
The lounge is available to be used by all the residents and is the venue for the larger social activities such as quiz nights, race nights, afternoon tea group, bingo, Saturday night film etc.
Next to this lounge is a small library/reading room for the smaller social activities such as poetry and Holy Communion.
The complex is managed by a Manager who lives on site 9-5pm with an hour for lunch.
The complex is, at all times, connected to a 24 hour Call Centre – which can offer assurance and call for help from the emergency services.
Mowbray Court - under the 'right to manage' manages its own finances via an elected Board of Directors. All residents can apply for Membership of the Company.
This retirement development comes with a lift, guest suite, communal lounge, resident manager's office and the communal laundry room with four 'Miele' washing machines, and four dryers.
Exeter is one of the country’s most famous Roman cities steeped in history with all the amenities and features of a modern day regional capital.
The city also has an excellent choice of state and independent schools and Exeter University is one of the most popular universities in Britain consistently ranking within the top ten of many league tables.
Exeter International airport lies five miles east of the city and there are excellent rail and road links including the mainline services to London (Paddington and Waterloo) the Midlands and the north of England plus excellent motorway connections with the national network at junctions 29, 30 and 31 of the M5 reaching a wide range of destinations.
Age Restriction - It should be noted that residents need to be aged 55 or above to be able to live at Mowbray Court.
Please also note that as a single resident you need to be aged 60 or over and as a couple, only one of you needs to be aged 60 or over to reside at Mowbray Court.
Service Charge & Ground Rent Information - A 2 bedroom apartment - for the budget of 2023-2024: Estimated at £2,666.34 per annum which is divided into two equal payments of £1333.17 paid in September and March.
Ground Rent - We understand the ground rent is approximately £210 also divided into two equal payments of £110 paid in September and March.
Lease Information - 125 years from 2000 - 99 years remaining.
Value & comps
No previous sales on record.
Returns
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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
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FAQ
About Butts Road, Heavitree, Exeter
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