- Fully refurbished residential investment block +
- Comprehensive renovation programme underway +
- Total gross annual income circa £140,400 +
- Approximate gross yield of circa 8% at a guide price of £1.75million +
- Turn-key, income-producing asset with minimal future capital expenditure +
Investment Opportunity – Musgrave House, Central Exeter
An exceptional city-centre residential investment comprising nine one-bedroom apartments, currently undergoing a comprehensive, high-quality renovation throughout. Once complete, the building will offer a fully modernised block in a prime Exeter location, positioned for strong and immediate income performance.
All apartments are being finished with brand-new kitchens, bathrooms and flooring, alongside a full refurbishment of the communal areas. The scheme is on track to be fully let and occupied by early April, delivering a projected gross annual income of £140,400, equating to an approximate 8% return at the asking price.
The Property - Musgrave House is a prime city-centre investment opportunity comprising a fully refurbished block of nine one-bedroom apartments located in central Exeter. The building is currently in the final stages of a comprehensive renovation programme, with every apartment being delivered with a new kitchen, new bathroom, modern flooring and contemporary finishes throughout. The communal areas are also being fully refurbished to create a cohesive, high-quality residential block.
Once complete, all nine apartments are expected to achieve £1,300 per calendar month, generating a total gross annual income of £140,400. At the proposed asking price, this reflects an attractive gross return of approximately 8%. Tenants will be responsible for their own utility bills, ensuring a straightforward income profile and low ongoing management costs.
The property is held on a 125-year lease from Exeter City Council and is expected to be fully let and occupied by early April. With the refurbishment removing short-term capital expenditure and the location underpinning strong rental demand, Musgrave House offers a turn-key investment well suited to private investors or portfolio buyers seeking immediate income in a core Exeter location.
For further information, detailed rental schedules or to discuss the opportunity in more depth, please contact the Francis Louis team directly.