Summary - 38, NEW NORTH ROAD EX4 4EP
1 bed 1 bath Commercial Property
**Standout Features:**
- Large Georgian terraced property (1,529 sq ft) in a cosmopolitan student neighborhood.
- Currently configured with 7 letting rooms, ideal for refurbishment.
- Planning permission granted to convert from 4 flats to 8 letting rooms, increasing rental potential.
- Sought-after location near Exeter Central Station and the Guildhall Shopping Centre.
- Vacant property with renown character, high ceilings, and period features.
**Concerns:**
- Requires extensive refurbishment; renovation needed to maximize the property’s potential.
- Listed status may complicate future renovations.
- High local crime rates and area deprivation may pose concerns for some buyers.
**Summary:**
This large Georgian terraced property offers a prime investment opportunity in a highly desirable student locale. Spanning 1,529 sq ft, it currently features 7 letting rooms, with an exciting prospect to increase this number to 8 through granted planning permissions. The vibrant area boasts excellent amenities and is only a stone's throw from Exeter Central Station, making it appealing for student tenants.
However, the property does require significant renovation and comes with listed status that might complicate some renovation plans. With a guide price of £325,000 and the ability to transform this gem into a lucrative HMO, potential investors or first-time buyers looking for a project should act swiftly; opportunities like this in such a sought-after location don’t last long. Embrace the unique history and abundant possibilities this property has to offer—this could be the foundation of your successful venture in the rental market!
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