8 bed house for sale in Pennsylvania Road, St James, EX4 (ref: 102801001037)

A spacious VICTORIAN INVESTMENT PROPERTY offering approximately 210sqm of accommodation currently set up as FIVE STUDIO'S & THREE ONE BEDROOM APARTMENTS, DEVELOPMENT POTENTIAL to maximise the accommodation and income potential. This property has potential to become a student property due to having the necessary HMO licence within the Article 4 directive.

The University of Exeter student numbers have grown substantially over the last 5 years increasing by approximately 33% since 2017 with the numbers at approximately 30,012 for the 2021/22 academic year and highly likely to grow even more over the next decade. All the UG, PGT & PGR numbers have grown substantially over the last 5 years with the mean average being the above stated figure at 33% growth since 2017 - 2022.*

Exeter University is ranked within the top 150 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.

SITUATION 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 development/investment opportunity with potential subject to the relevant permissions to become a student property.

DIRECTIONS For further information and to book your viewing then please contact Brett Hampton within our office who has a wealth of experience within the student investment property marketplace, buy to lets and the High End Residential marketplace respectively.

AGENTS NOTES This versatile building is fully let at the present (March 2022) and achieving the below income per apartment/studio per month, most tenants within the building have been renting for more than a year.

In our opinion there is immense potential to develop this property and maximise / increase it's income level due to the property having the necessary HMO Licence in place!

The approximate gross monthly income is currently £3,685.00 per calendar month.

*Our conservative estimates are if you made this property a 10 bedroom student home the income per annum would be in the region of £90,000.

DISLAIMER *Please note the internal pictures are historic pictures of the apartments before current tenants have moved into the studios/apartments, therefore be mindful the internal condition maybe different. These pictures should be used as a guide only and internal viewings are highly recommended before entering into negotiations.