Richmond Court, Exeter
Offers over £1,000,000 (Tenant Fees)

56 & 57 Richmond Court offer a rare opportunity to acquire two identical student investment properties, sold together and producing a strong combined income in an exceptional Exeter city centre location.

Situated within the well regarded Richmond Court development, the properties enjoy a peaceful, traffic-free setting just 50 metres from Exeter Central Station, moments from the High Street and within easy walking distance of the University. This prime central position remains one of the most resilient and desirable locations for student demand.

Both houses are modern freehold four bedroom townhouses, arranged over three floors and configured in exactly the same way. Each property is rated EPC C and benefits from one allocated parking space, a valuable feature in such a central location. Both are operated as four bedroom student HMOs, with tenants paying all utility bills directly, and are pre-let for the 2026/27 academic year, providing immediate income security from completion.

Each property generates an income of £35,000 per annum, offering a strong and reliable return from day one. Both properties have been successfully operated as small HMOs for over 20 years and benefit from CLEUD certificates, confirming lawful HMO use within this Article 4 restricted area and providing a high level of planning certainty in a tightly controlled central location.

Internally, the accommodation is practical, low-maintenance and well suited to shared occupation. Each property provides a kitchen/dining room with access to a private courtyard garden, a separate ground floor reception room and WC, four generous double bedrooms and a modern family bathroom. The layouts are well proven for long-term student letting.

There is clear scope to increase rental income further by converting the existing ground floor reception rooms in each house into additional fifth bedrooms (STP). On this basis, the combined rental income could rise to approximately £91,500 per annum.

Income Breakdown – 56 & 57 Richmond Court
Each property will generate £3,200 per month, providing a combined monthly income of £6,400.

In their four-bedroom configuration, the properties are well proven as long-term student investments. There is further scope to enhance income by converting the existing ground floor reception rooms in each house into additional fifth bedrooms, subject to compliance and licensing. On this basis, the combined annual rental income could increase to approximately £91,500, materially improving overall yield.

Each house benefits from an allocated parking space, which may also be let separately, creating a further supplementary income stream in this highly constrained central location.

Both properties are being sold fully furnished, with all remaining furniture included within the sale, allowing an incoming investor to continue student or mixed-use letting immediately with no additional capital outlay.