Magdalen Avenue, Bath, BA2

The property

Currently an exceptional student rental property, a longstanding investment opportunity with a proven track record of success. Under the ownership of the current proprietor since 1998, this property has boasted an impressive 100% occupancy rate, showcasing its reliability and appeal as a sought-after student accommodation.

The property has planning consent for a loft conversion: Application Reference: 21/04105/FUL

Presently, this property is leased to three students, offering comfortable and convenient living arrangements tailored to their academic pursuits. Generating a monthly rental income of £1930, this investment promises consistent returns, making it a lucrative addition to any portfolio. There’s an unoccupied fourth bedroom and basement which is ripe for conversion presenting further potential income.

This beautiful Victorian terraced house, spanning over three floors, offers ample space and versatility, with the added potential to convert the lower floor into a self-contained separate apartment, enhancing its value and income-generating capacity. Previously utilised as a separate let, the lower floor contributed to the property's rental income, bringing in £695 per month. This history of successful rental highlights the demand for additional accommodation within the vicinity, further underlining the potential profitability of such an investment.

Boasting proximity to amenities and breathtaking views of Bath city, this property offers an ideal canvas for renovation enthusiasts. Originally a Victorian residence, this building retains its period charm, providing a foundation for a restoration project that could reimagine it as a luxurious residential dwelling. With meticulous attention to detail, the original features can be preserved, reinstating the property's historic allure.

Furthermore, the addition of a new patio outdoor space enhances the property's appeal, offering an inviting area for relaxation and entertainment. Whether utilised as student accommodation or transformed into a stylish home, the potential of this property is boundless.

Location

Bear Flat is a renowned and sought-after neighbourhood, exuding a vibrant and bohemian atmosphere. Its popularity stems from its eclectic mix of amenities, coupled with its convenient downhill walk to the city centre, making it a favourite among locals and visitors alike.

Culinary enthusiasts will delight in the diverse dining options available, including the exclusive and high-end Menu Gordon Jones, renowned for its exquisite gastronomic experiences. For those craving a leisurely brunch, the Good Bear café beckons with its inviting ambiance and delectable menu.

Convenience is key in Bear Flat, with a local supermarket providing all the essentials, while a florist, delicatessen, gastro pub and take-away options cater to a variety of needs and tastes. Additionally, fitness enthusiasts can stay active at the Space Gym, offering state-of-the-art facilities for a fulfilling workout experience.