Summary - 27 FLAT B WELL STREET EXETER EX4 6QL
2 bed 1 bath Apartment
Affordable first purchase or renovation rental in a lively city location.
Ground-floor two-bedroom layout with practical storage cupboards
Allocated off-street parking plus lockable rear storage cage
Needs full cosmetic modernisation throughout
Long lease (942 years) with low ground rent (£15pa)
Service charge c. £1,364pa (reducing to £1,140pa in September)
Estimated rental potential £1,200pcm; approximate 7.5% gross yield
Located in a cosmopolitan, student-populated neighbourhood
EPC currently D; energy improvements may be needed
Ground-floor two-bedroom apartment in Well Street, Exeter, offering an affordable entry into the city market or a rentable refurbishment project. The flat sits in a six-home purpose-built block (1964) and benefits from gas central heating, double glazing and an allocated off-street parking space with a lockable storage cage — useful for bikes or tools.
The layout is practical: entrance hall with built-in cupboards, a bright lounge/diner, separate kitchen, bathroom and two long bedrooms. The property needs updating throughout, so buyers should expect cosmetic and systems refurbishment to modernise the kitchen, bathroom and decor. Current EPC listed as D and property is described as a renovation project.
Financially this is straightforward for leasehold buyers: a long lease remains (942 years), modest ground rent (£15pa) and an annual service charge currently £1,364 (reducing to £1,140pa from September). Letting estimates suggest around £1,200pcm post-renovation, equating to an approximate gross yield near 7.5%.
Location is a practical city choice: close to local shops, public transport and a mix of schools. The neighbourhood is classed as a cosmopolitan student area, so buyers should factor in tenant demand profiles (students/young professionals) if considering rental use.
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