Summary - 5, LOWER GUNSTONE, BIDEFORD EX39 2DE
5 bed 3 bath Terraced
Four lettings plus vacant cottage — immediate income with clear refurbishment upside.
Grade II listed stone-fronted mid-terrace building
A Grade II listed stone-fronted mid-terrace in central Bideford, converted into three self-contained flats plus an adjoining 2-bedroom cottage. The building produces an existing gross rental income of about £22,500 pa from long-term tenants, while the vacant cottage offers immediate scope for refurbishment and uplift. At the listed price of £235,000 this presents a clear entry-price investment with near-term cashflow and upside from modernisation.
Important practical points are plain: the property needs renovation, heating is by electric storage heaters, glazing is secondary and the solid brick walls are assumed to have no insulation. Listed status is recorded and will cause regulatory and cost considerations for any external or structural work. The area has high crime statistics and local socio-economic indicators show significant deprivation; these factors affect tenant profiles and management requirements.
For an investor this is a value-led, hands-on opportunity. The three flats are let long-term, giving immediate income, while renovating the vacant cottage and upgrading heating, insulation and finishes could materially increase rents and overall yield. Communal access, secure storage and partial river views for upper flats add lettable appeal. Expect to budget for listed-consent processes and fabric upgrades when assessing final returns.
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