Terraced house for sale in Springfield Road, Exeter EX4

Student investment property - A 5 bedroom licenced HMO that has been earning income for over 25 years and continues to earn. Current academic year of 2023/24 producing an annual income of £38,115pa. Already let for Academic Year 2024/2025 at £40,535 pa with potential to create A 6th bedroom and additional shower room.

Set within this most popular area is this five bedroom student HMO producing a good yield and income. Positioned a short distance away from the main University of Exeter's main Streatham campus and the City centre.

This property briefly comprises an entrance hall, lounge, kitchen with dining area and bedroom 1 to the ground floor. To the first floor is the landing, shower room and separate WC, bedroom 2 and bedroom 3. Bedroom 4 and 5 can be found on the second floor. To the rear is a garden providing outside space.

There is scope to easily convert this 5 bedroom property into a 6 bedroom with additional shower room.

The University of Exeter student numbers have grown substantially over the last 5 years increasing by approximately 26% since 2018 with the numbers at approximately 29,776 for the 2022/23 academic year and highly likely to grow even more over the next decade.

Exeter University is ranked within the top 200 prestigious qs World University Rankings 2022 placing it among the very best institutions worldwide, the University is also one of the highly distinguished 24 Russell Group Universities within the United Kingdom.

*This data is taken from the annual 1st December student census and represents the most up to date information about students for the stated academic year. Students which withdraw during the year will not be accounted for in these figures. The data is fte including into, but excluding non-credit bearing students and inbound exchange students such as Erasmus.

Location The property lies within a central City location within close proximity of the University of Exeter's main Streatham Campus and additionally the High Street, making this an ideal investment and student property.

Agents notes: This property has been owned by the current owner for 30 years, a good history of renting each year and currently has students in occupation for the 2023/24 academic year and let for 2024/2025 Academic Year.

The Rent for the 2023/24 Academic Year: £38,115pa (exclusive of bills)
The Rent for the 2024/2025 Academic Year: £40,535pa (exclusive of bills)