1 bed flat for sale

Homecourt House, Bartholomew Street West, Exeter EX4

Description

A rare opportunity to acquire two one-bedroom retirement apartments within the highly regarded Homecourt House development, located in the heart of Exeter city centre. Apartments 46 and 105 are available for purchase together as a single investment opportunity and are offered with sitting tenants in situ, making this an ideal acquisition for investors seeking immediate rental income from established tenancies.

Both apartments offer well-proportioned accommodation comprising bright and spacious living rooms, fitted kitchens, double bedrooms and bathrooms. Residents benefit from access to beautifully maintained communal gardens, residents' parking, communal lounge facilities and a range of onsite services designed to support independent retirement living.

Homecourt House is a popular and well-established retirement development, renowned for its welcoming community atmosphere and excellent resident amenities. Facilities include regular coffee mornings, monthly social activities, bingo evenings, laundry facilities, lift access, guest accommodation for visiting family and friends, an onsite manager and emergency careline system. These features contribute to the continued popularity of the development and provide a desirable environment for residents.

The development enjoys an enviable location within easy walking distance of Exeter city centre and the historic Exeter Quayside. Residents have convenient access to a wide range of shopping, dining and leisure facilities including Princesshay Shopping Centre, Guildhall Shopping Centre, Marks & Spencer, Tesco Express, Sainsbury's Local, Boots and Superdrug. Popular nearby restaurants and cafés include The Ivy Exeter, Harry's Restaurant, Côte Brasserie, ask Italian, Turtle Bay, Rockfish and On The Waterfront at Exeter Quay.

Excellent transport connections are readily available, with Exeter Central and Exeter St Davids railway stations both within easy reach, offering regular services to London Paddington, Bristol, Plymouth and destinations across the South West. Frequent bus services operate throughout Exeter and the surrounding areas, while the A30, M5 motorway and Exeter International Airport are all conveniently accessible.

This unique investment package presents an opportunity to purchase two income-producing retirement apartments within one of Exeter's most sought-after retirement developments. Offered with tenants already in occupation, the properties provide immediate rental income, an established investment profile and the potential benefits associated with acquiring multiple units within a proven and popular city-centre development.

Rental income and yield information, with the current gross rental yield for 105 Homecourt House is £725 per month (£8,700 P/A). And 46 Homecourt House is £775 per month (£9,300 P/A).

Investment Buyers Only - Please Note: The property is being sold subject to an existing tenancy agreement with a tenant in occupation. As such, the apartment is suitable for investor purchasers only and is not available with vacant possession.

By law, we are required to conduct anti-money laundering checks on all potential buyers and we take this responsibility very seriously.

If your offer to purchase a property is accepted (subject to contract), you will need to satisfy the requirements set out in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

To comply with these obligations, we work with an independent third-party provider, Coadjute, to complete id verification, aml checks, and source of funds checks. A non-refundable fee of £27 plus VAT (per person) applies for these checks and Coadute will handle the payment for this service.

These anti-money laundering checks must be completed before we can send the memorandum of sale to the solicitors to confirm the sale.

As a regulated Sales Agent, we are required to be part of an approved redress scheme. We are members of The Property Ombudsman, which is a government-approved scheme providing independent dispute resolution.

From time to time, we may introduce buyers or sellers to The Mortgage Quarter. Use of their services is entirely optional. If you choose to proceed with them, please be aware that we may receive an average referral payment of £200 for the introduction.

Council Tax Band: A
Tenure: Leasehold (54 years)
54 years left on lease
- Ground rent for each property per annum:-

£740.00
- Maintenance for each property per annum:-
£2078.00

Repairs and Maintenance - £213.60