12 bed detached house for sale

Alphington, Exeter EX2

A rare and compelling investment opportunity in Alphington, Exeter, this fully refurbished and licensed HMO offers exceptional long term potential. Configured to deliver strong rental returns from day one, it offer investors an immediate return with further development potential from a large barn and sizeable plot.
The property


Fairfax House has been newly and comprehensively refurbished throughout and comprises 12 letting units; 4 self contained flats/studios and 8 spacious rooms with kitchenettes and shared bathroom facilities.

Recent works include a new eicr, Grade A fire system, completed fra actions, keyless entry and a new roof, ensuring full compliance and immediate operational readiness.

The ground floor accommodation comprises two self-contained units; one studio with nice feature bay window, and one apartment with kitchen/living room and separate bedroom. The accommodation is completed by a large unit with separate living room kitchen and bedroom.

The first floor offers two self-contained studios and two rooms with shared bathroom.

The second floor comprises 5 further rooms, with shared bathroom.

In addition to the main house, there is a large barn with development potential to be extended into a further dwelling (STP).

The main house boasts over 4000 sqft of accommodation and the total plot extends to approximately ¼ acre, with space to the rear of the building currently utilised as parking for residents. There is potential for development of the site to the rear of the house, subject to planning consents.

At full capacity the property will be generating annual revenue of circa £120,000, thus offering a 12% yield. Full management is available from a specialist HMO management agent.
The location


Situated in sought after Alphington, the property enjoys excellent access to the A30 and M5, and is moments from Marsh Barton, a major employment centre. Alphington village provides local amenities and a welcoming community feel, while the surrounding Devon countryside offers attractive lifestyle appeal for tenants. This combination of accessibility, demand and setting makes it a highly desirable and resilient location for investment.
Services


Local Authority: Exeter City Council

Council Tax Band: F

Tenure: Freehold

Heating: Electric Heating

Services: Main water supply and mains drainage

Energy Efficiency Rating: N/A, Exemption granted

Flooding- This is deemed to be very low risk for rivers & seas and very low for surface water.

Internet- We understand that standard, superfast and ultrafast broadband can be found in this locality providing a download speed up to 1800Mbps.

Mobile Phone signal - Several networks are currently displayed as available at the property.

Agent's notes

At the time of preparing these particulars, the units were in the process of being let and therefore exact rental figures are tbc.

To conform with government Money Laundering Regulations 2019, we are required to confirm the identity of all prospective buyers once any sale is agreed, and check proof of funding. We use the services of a third party, Hipla, a Law Society Licensed company. We will require the full name, mobile phone number and current address of all buyers. There is a nominal charge of £24 including VAT for this, (per person), payable direct to Robert Williams Estate Agents. Details will be provided upon request. Please note, we are unable to issue a memorandum of sale until all the required mandatory checks are complete.

It is a mandatory requirement for a Sales or Lettings Agent to be part of a redress scheme, we have membership with The Property Ombudsman (a government approved redress scheme). It is a mandatory requirement for a Lettings Agent to be part of a Client Money Protection scheme, we have membership with Propertymark (a government approved client money protection provider).