A centrally located residential investment is for sale, comprising 6 apartments, all let on AST agreements and successfully owner-managed. The property is situated in a terraced two-storey residential area of Torquay, Devon, only a short walk from the town centre, harbour, and beachfront. The income is constant, and occupancy is very high. The overall condition of the interior of the property needs upgrading, which would increase the overall freehold value and subsequent income. Actual trading accounts will be available after a successful formal viewing.
The property is in the heart of Torquay, Devon, ideally situated for the bus and mainline railway station. The main beach, harbour, and local restaurants are just a short walk away. Torquay is currently one of the most popular seaside holiday destinations in the UK and has excellent road links to the M5 motorway connecting all parts of the UK. Nearby, there is an international airport offering flights to European and worldwide destinations, not forgetting Dartmoor National Park, which is only a short drive away.
The investment has been successfully owner-operated for many years, with high occupancy and impressive income. Although the investment is owner-operated, this could easily be subcontracted to a local letting agent. With a gross income of over £34,000, which would increase with a refurbishment.
ACCOMMODATION COMPRISES
1, 1, Warren Hill
Ground Floor, Own entrance, living room/kitchen, bedroom & shower room.
2, 1, Warren Hill
First Floor, Own entrance, living room, separate kitchen, bedroom & shower room.
1, 2, Warren Hill
Ground Floor, living room/kitchen, bedroom & shower room.
2, 2, Warren Hill
First Floor, living room, separate kitchen, bedroom & shower room.
3, 2 Warren Hill
Second Floor, living room/kitchen, bedroom & shower room.
4, 2 Warren Hill
Second Floor, living room, separate kitchen, bedroom & shower room.
GROSS INCOME
Flat 1,1 £500 pcm
Flat 2,1 £500 pcm
Flat 1,2 £500 pcm
Flat 2,2 £450 pcm
Flat 3,2 £450 pcm
Flat 4,2 £450 pcm
FIXTURES AND FITTINGS
All trade fixtures and fittings, except for our vendor’s private inventory, will be included in this sale. A full inventory will be provided prior to the exchange of contracts. All stock will be sold at valuation on completion. No testing of these fixtures or any appliance has been undertaken by the agents, Ware Commercial.
SERVICES
Mains gas, electricity, water, broadband, and drainage are all connected. No testing of these services has been undertaken by the agents, Ware Commercial.
BUSINESS RATES / COUNCIL TAX
Please make enquiries on the local valuation website (VOA) at www.voa.gov.uk www.voa.gov.uk
TENURE
Freehold
VIEWINGS
All viewings and enquiries are to be made through the agents, Ware Commercial.
