Grosvenor Place, Exeter £160,000

A well presented TWO double bedroom maisonette which is located in the heart of Exeter City Centre with a PRICE GUIDE of £160,000-170,000. The property benefits from two bright double bedrooms, two EN-SUITE shower rooms, a lounge/kitchen and is let for the academic year 24/25 with an INCOME of £16,000 per year, YIELD of 10%. This flat is a great INVESTMENT opportunity, as well as being a RESIDENTIAL home.

Information
This property is let for the academic year 2024/2025 on a 50 week contract staring from 1st September 2024. The property has an income of £16,000 (£320 per week) with the tenants paying their own bills.

Agent notes
These particulars are not an offer or contract, nor part of one. You should not rely on statements by Francis Louis in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property condition or its value. Neither Francis Louis nor any joint agent has any authority to make any representations about the property and accordingly any information given is entirely without responsibility on the part of the agents, sellor(s) or lessor(s) Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. VAT: the vat position relating to the property may change without notice.

Freehold/leasehold Information
(1). The Lease on the flat is 999 years, dated from 24th June 1985.

(2). "The new owner of the flat will potentially have the opportunity of acquiring the freehold of the building”

Each of the 4 owners of flats in 2 Grosvenor Place is liable for 25% of costs of building repair, maintenance, decoration, fire alarm tests*, and building insurance.

Ground Rent is chargeable at £60 per flat per year on 24th June.