Richmond Court, Exeter
Offers over £500,000 (Tenant Fees)

This modern four bedroom townhouse represents a high-performing, low-maintenance student investment in an exceptional Exeter city centre location, offering immediate income security together with clear and achievable rental growth.

Situated within the well regarded Richmond Court development, the property enjoys a rare combination of peace and convenience. This attractive, traffic-free setting lies just 50 metres from Exeter Central Station, moments from the High Street, and within easy walking distance of the University, making it one of the most consistently popular locations with student tenants.

The property is a freehold house, rated EPC C, and benefits from one allocated parking space, a valuable asset in such a central location. It is operated as a four bedroom student HMO, generating an annual income of £35,200, with tenants paying all utility bills directly. The house is already pre-let for the 2026/27 academic year, providing immediate certainty and a secure income stream from completion.

Arranged over three floors, the accommodation is well suited to shared occupation. The ground floor provides a spacious kitchen/dining room with direct access to a private, low-maintenance courtyard garden, along with a separate reception room and WC. The upper floors offer four generous double bedrooms and a modern family bathroom. The layout is practical, durable and designed for straightforward long-term management.

The property has been operated as a small HMO for over 20 years and benefits from a CLEUD (Certificate of Lawful Existing Use or Development), confirming lawful HMO use within this Article 4 restricted area, providing a high level of planning certainty in a tightly controlled central location.

There is clear scope to increase the rental income to approximately £45,750 per annum by converting the existing ground floor reception room into an additional fifth bedroom (STP).

Investment Overview
The accommodation is arranged over three floors and includes 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 layout is practical, durable and well proven for long-term student letting.

There is clear potential to further enhance income by converting the existing reception room into a fifth bedroom, subject to the necessary compliance and licensing. On this basis, the projected annual rental income would increase significantly.

The allocated parking space may also be let separately, providing an additional supplementary income stream in this highly constrained central location.

The property is being sold fully furnished, with all remaining furniture included, allowing an incoming investor to continue letting immediately with no additional capital expenditure.