2-bedroom flat · EX9 6AQ
Listing removedReduced £31k (−15.8%) on 2 JulListed 179 daysAuction 12 May · ended
Opportunity summary
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About
This property is to be sold by conditional online auction, powered by Bamboo Auctions.
Bids are to be placed on Number 4 Brook Meadow Court is a first floor apartment, found in an exclusive development of four apartments.
The development occupies a highly desirable most convenient location.
Auction Notes This property is being sold by conditional online auction and a non-refundable reservation fee of £6000 or 4.2% + VAT applies, whichever is the greater (in addition to the purchase price).
If you are the successful bidder, you will be charged the amount of £6,000 + VAT (£7,200) or 4.2% +VAT, whichever is the greater, which will be processed online, immediately at the end of the auction, only if you are the successful bidder.
You will then have 20 working days within which to exchange contracts, and a further 28 days to complete the purchase.
Definition Of A Guide Price And A Reserve Price: Guide Price: An indication of the seller’s current minimum acceptable price at auction.
The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase.
It is usual, but not always, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing.
As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued.
This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall.
A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Reserve Price: (truncated) Communal Entrance Communal entrance door with security intercom system. Staircase rising to the first floor.
Entrance Hall Double central heating radiator with thermostat control, built-in cupboard, thermostat and control panel for gas central heating. Coved and textured ceiling.
Intercom for communal front door. Doors to ... Living Room Double glazed window to front elevation, further double glazed window to side elevation. Central heating radiator.
TV point, fireplace with electric fire, coved ceiling.
Kitchen Double glazed window to rear elevation, further double glazed window to side elevation, expanse of roll edged work surface, gas hob, range of base and eye level storage cupboards, built in oven.
Inset one and a half bowl sink and drainer unit, built-in storage cupboard with central heating boiler, space and plumbing for washing machine and dryer, space for fridge.
Bedroom 1 Double glazed window to front elevation, further double glazed window to side elevation, double central heating radiator with thermostatic control, built-in wardrobe, coved ceiling.
Bedroom 2 Double glazed window to rear elevation, central heating radiator with thermostatic control, built-in wardrobe and coved ceiling. Shower Room Two obscured double glazed to the rear elevation.
Shower cubicle. Hand wash basin with storage under. WC with concealed cistern. Central heating radiator with thermostatic control. Ceiling spot light and extractor fan.
Outside This particular apartment enjoys well maintained communal gardens and a single garage. This garage has an up and over door, with light and power.
It is understood from the current owner that there is also a visitors parking space.
Material Information What3words: ///outreach.clearcut.skirting Material information Tenure: Leasehold ; 999 years from 29.9.71 Ground Rent - £5 per annum Maintenance Charge - £180 per month Council Tax: Band D with East Devon District Council Mains: Electricity, Water & Drainage Heating: Gas Central Heating Parking Availability: Garage Property Accessibility: Step to enter the communal hall and then stairs to first floor Restrictions : And light vehicles only.
Value & comps
No previous sales on record.
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Returns
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Archie refurb estimate: a Pro feature
0.0% below starting price
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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 Flat 4,, Brook Meadow Court, Budleigh Salterton
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