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See how verdicts work3-bedroom flat · EX2 4BJ
Listing removedReduced £50k (−7.7%) on 26 JulListed 542 days
Opportunity summary
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About
Description 1 Morford House is a truly unique, three double bedroom ground floor apartment oozing luxury from the very first step.
Sitting to the front of the property is a magnificent 24'X17' living room with two beautifully restored sash windows allowing an abundance of natural light.
To the rear is a stylish fully integrated shaker style kitchen with Silestone worktops and doors leading to private rear garden.
From the inner hallway, you will find the spacious two spacious bedrooms each with access to a luxury bathroom featuring walk in shower. One even has access via French doors to a gravelled courtyard.
The principal bedrooms is a calming room overlooking the rear garden and is serviced by an ensuite bathrooms.
This grand Grade II* Listed property has been carefully designed and specified to an exceptional standard to fit into the modern day of living with eco credentials including ground source heating, pv solar panels and allocated parking space.
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.
Hallway (3m x 2.46m) Kitchen (4.65m x 4.3m) Living/Dining (7.52m x 5.18m) Bedroom 1 5.72m max x 2.54m (5.72m max x 2.54m) En Suite Bedroom 2 (4.8m x 2.8m) En Suite Bedroom 3 (4.04m x 2.92m) Agents Note: Please note that some of the images have been digitally staged.
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 £5,350.13, 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.
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.
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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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 Apartment 1 Morford House,, St Margaret's Residences, Exeter
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