8 Oxford Road, Exeter, Devon EX4 6QU

Description

A one/two-bedroom basement flat situated on Oxford Road in Exeter, offering a convenient residential location close to the city centre. The property has been fully stripped back, providing a blank canvas for refurbishment and the potential to be configured as either a one or two-bedroom apartment, subject to any necessary consents. The property is Grade II listed and benefits from a small courtyard. The flat is held on a leasehold basis, with the freehold of the building also included within the sale.

Accommodation

One/two-bedroom basement flat; small courtyard.

Location

Situated on Oxford Road in Exeter, close to the city centre. The area benefits from excellent transport links, with St James Park railway station nearby, as well as local shops, cafés, restaurants, the University of Exeter and the wider amenities of the city.

Tenure / Property Information

Investment Analysis

Comparable evidence ranges from £140,000 for the same flat in 2023 to £160,000 for 16 Oxford Road in 2025, with other Oxford Road flats at £168,000 and £190,369. Given the subject is fully stripped back and its final one/two-bedroom configuration is uncertain, a cautious base GDV of £160,000 is used.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led BRRR or resale opportunity, but only after confirming listed-building requirements, lease/legal matters and obtaining a firm refurbishment budget.

Works Required

Refurbish the fully stripped-back basement flat and configure it as a one- or two-bedroom apartment, subject to necessary consents. Grade II listing requirements and courtyard works should be checked through the legal and planning information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £60,000 guide, the known purchase price plus buyer premium and admin charge is £62,400 before refurbishment and other costs. A 75% refinance against the £160,000 base GDV would be £120,000, but cash left in cannot be calculated without a supported refurbishment budget and full purchase costs.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,355 pcm, implying a headline gross yield of 27.1% on the £60,000 guide. A meaningful yield on total project cost cannot be established because refurbishment costs, disbursements and finance costs are unknown.

Flip Analysis

The evidence supports a base resale/GDV assumption of £160,000, with a cautious range of £140,000 to £168,000. Flip surplus cannot be calculated because refurbishment costs, disbursements and selling costs are unsupported.

Investor Risks & Due Diligence

• Fully stripped-back condition creates unknown refurbishment costs.

• Grade II listed status may constrain alterations and require consents.

• One/two-bedroom configuration is subject to necessary consents.

• Additional disbursements, search fees, legal fees and transfer fees may apply.

• Rental evidence is an advertised asking rent rather than achieved rent.

Recommendation

Potential refurbishment-led BRRR or resale opportunity, but only after confirming listed-building requirements, lease/legal matters and obtaining a firm refurbishment budget.

Strategy Rating

Analysis Confidence

Several local completed-sale comparables and one rental asking price are available, but condition-specific refurbishment costs, full fees, planning position and lease details are not supplied.