Summary - 2d Grosvenor Place EX1 2HJ
2 bed 2 bath Flat
Secure student-let income in a compact, centrally located maisonette.
- Immediate income: £16,000 pa from academic tenancy (2024/25)
- Two double bedrooms, each with en-suite shower room
- Tenants pay all bills (reduces ongoing outgoings while let)
- Compact footprint: c.580 sq ft; efficient but small rooms
- 999-year lease; ground rent only £60 per year
- Electric room heaters; solid brick walls likely uninsulated
- Shared freehold responsibilities: 25% of building costs each
- Student communal area; tenancy profile suited to investors
A compact two-bedroom maisonette in the heart of Exeter city centre, presented as a purpose-fit investment with an immediate income of £16,000 per year. The property is currently let to students on a 50-week academic tenancy for 2024/25; tenants pay all bills, which simplifies running costs while occupancy is secure.
Accommodation is efficient: two double bedrooms each with an en-suite shower room, and an open-plan lounge/kitchen within about 580 sq ft. The flat is double-glazed and sits in a solid-brick mid-terrace building dating from the early 20th century. The long 999-year lease removes short-lease risk and ground rent is low at £60 per year.
Key ownership notes matter: each of the four flat owners shares responsibility for 25% of building repair, maintenance, decoration, fire-alarm testing and insurance costs. The new owner will be expected to participate in the collective freehold arrangements for the building. Heating is by electric room heaters and the walls are assumed to have no insulation, so running costs could be higher than gas-heated alternatives.
This is a straightforward, turn-key student investment in a cosmopolitan, well-connected postcode (EX1). It suits a buyer seeking immediate rental yield with minimal void risk. For an owner-occupier or different tenancy mix, some upgrading—particularly to heating and insulation—would improve year-round comfort and reduce energy costs.
3 bedroom maisonette for sale in Blackboy Road, Exeter, EX4 — £255,000 • 3 bed • 2 bath • 706 ft²
2 bedroom flat for sale in West Street, Exeter, EX1 — £300,000 • 2 bed • 2 bath • 835 ft²
2 bedroom flat for sale in Union Road, Exeter, EX4 — £190,000 • 2 bed • 1 bath • 538 ft²
2 bedroom flat for sale in 145-147 Fore Street, Exeter, EX4 — £250,000 • 2 bed • 2 bath • 805 ft²
1 bedroom flat for sale in Sidwell Street, Exeter, EX4 — £120,000 • 1 bed • 1 bath • 334 ft²
2 bedroom flat for sale in Britayne House, 17 Bartholomew Street East, Exeter, EX4 — £325,000 • 2 bed • 1 bath • 853 ft²
