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Beautifully Renovated & Refurbished Seafront Holiday Letting Property In Paignto For Sale

Paignton, Devon, UK
Asking Price:
£750,000
Turnover:
Available on request
Net Profit:
Available on request

Romford Lodge is a prime piece of real estate in an enviable coastal location. The 3 storey, detached property has been completely renovated and refurbished in a beautiful ‘New England’ style, now providing a stunning building with sea views, lending itself to a variety of uses. The renovation has been a complete top-to-bottom project with the property being almost entirely rewired and replumbed. A list of major improvements can be found overleaf.

Property Information

Property:

Leasehold

Location:

Romford Lodge is located on Marine Drive, the coastal road which sweeps through from Preston to Paignton seafront. The property is approximately 200 yards equidistant between the two main beaches and greens of Paignton and Preston. It is perfectly situated as a holiday home or guest house, being only a few minutes walk from Torbay Road, leading to Paignton town centre and the railway and bus station. Paignton is situated in Torbay, fondly referred to as the 'English Riviera', South Devon's beautiful bay surrounded by scenic countryside and stunning coastline, combining the resort towns of Torquay, Paignton and Brixham. The area is well serviced by the South Devon link road (the A380), connecting Torbay to Exeter and the M5 motorway network. Torbay is also connected via a railway network to Exeter and beyond.

Premises Details:

The accommodation briefly comprises:-

Steps up to main entrance door, with elevated PATIO/TERRACE to the side, leading to:

Open plan entrance lobby/hall

Lounge
Large double sized Reception Room with double entrance doors. Inset built-in timber shelving. Window bench seating. Tongue and groove painted panelling to part.

Dining room
Finished in the same style, with large panoramic bay window and sea views.

Bar/servery hatch
Bespoke built Oak top with inset lighting over. Door to:

Kitchen
A beautifully finished, bespoke kitchen with domestic fitted units, oak worktop and tiled walls. 2x 5-ring professional Bush range oven with double extraction hoods over. Bar area at far end with space for under-counter drinks fridge, leading to the open hatch described above. Wash up area with double deep sink and drainer. Space for two dishwashers (with plumbing). Two understairs cupboard with built-in shelves. Part glazed door to:

Utility room
Attractive tiled floor. Door to rear car park.

Boiler room
Completely refitted and replumbed in 2021.

Ground floor disabled bedroom with wet room
Wide 3’ internal doors and disabled door to outside car park, allowing for easy access. Bespoke built and tiled, En-Suite Wet Room with wall mounted radiator, WC and wash hand basin.

Oak effect LVT flooring has been laid throughout the ground floor with heavy Oak doors to the principal rooms. Recessed ceiling spot lighting to all rooms.

Main central staircase leading to First and Second Floors which have been newly carped throughout.

First floor

All bedrooms have beautifully finished En-Suite bathrooms with pressurised power showers (some doubles), w.c’s and wash hand basins. Heated towel rails, tiled walls and LVT bathroom flooring.

Double bedroom with sea views
Bay window and sea views. En-Suite Bathroom.

Double bedroom with seaviews
Composited decked, private balcony with panoramic sea views. Built-in cupboard. En-Suite Bathroom.

Double bedroom
En-Suite Bathroom.

Double bedroom
En-Suite Bathroom.

Family bathroom
Tiled floor and walls. Victorian-style sink and centrally positioned roll top bath. Lockable walk-in storage cupboard.

Separate WC
Wash hand basin. Tiled floor and walls.

Second floor

Double bedroom with seaviews
Balcony and elevated sea views looking back to Torquay. En-suite Bathroom.

Double bedroom with seaviews
En-suite Bathroom.

Double bedroom with seaviews
En-suite Bathroom.

Double bedroom
En-Suite Bathroom.

Double bedroom
Built-in wardrobe. En-suite Bathroom.

Projected income
Romford Lodge would make a fantastic 'big house' holiday let with the ability to command considerable letting income throughout the year. The property is currently arranged as flexible space, but would lend itself to a 10 bedroom, 11 bathroom house, sleeping 22 guests.

A professional estimate of Gross Income by Sykes Holiday Cottages, based on a total of 34 bookings, divided as 22 week-long bookings and 12 short-break bookings, is between £98,000 to £120,000 per annum.

The weekly recommended price range of between £1,886 to £5,240 across the year is somewhat conservative and it is quite possible that these projected incomes could be increased.

Alternately, Romford Lodge could be let out on a private ‘Airbnb basis’, maximising income with shorter stays and potentially generating more revenue. The property would also lend itself to operate as a state-of-the-art boutique guest house/ small hotel, especially given its seaside location and easy access to the town and beaches. Equivalent hotels in Torbay command around £150+ per night for comparable accommodation.

Romford Lodge is a unique property, given its location and superior standard of accommodation which will lend itself to either a private investor looking for a significant rental return or owner/operator wishing to maximise the revenue as a guest house/hotel. For further information and sight of projected rental income, please contact the Sole Selling Agents, Bettesworths.

Rates
2017 List: £7,900. Please note this is not Rates Payable. 100% Small Business Rate Relief will be available for eligible parties. Interested parties are advised to make their own enquiries with the Local Billing Authority, Torbay Council.
EPC Rating C

Major Improvements following Renovation:

• Windows and doors replaced with uPVC double glazing.

• Roofline and gutters replaced with uPVC facias and rainwater goods.

• Water and Gas mains replaced to the road.

• Car park and driveway resurfaced (tarmac).

• Re-wired and new consumer units.

• New smart meters.

• All radiators replaced and most of plumbing for central heating system.

• All water storage tanks removed from loft and replaced with pressurised system in plant room.

• New TV aerial and Data system wired to all rooms and distribution cabinet installed under stairs.

• New fire alarm and emergency light system installed by Westcountry Fire.

• All 18mm chipboard flooring removed and replaced with 22mm.

• New fibreglass flat roof system and composite decking installed above front entrance porch.

• Top floor balcony replaced with new composite decking.

• All shower wastes removed and renewed and trap access panels installed.

• All sanitary ware and shower cubicles replaced and easy clean shower panelling installed.

• Ground floor doors widened to 3’ to allow for disability access, all ground floor levelled and door bars removed.

• Ground floor accessible bedroom created with own 3’ access door to rear car park and en-suite wet room installed.

• Loft fully insulated.

• Wiring installed for electric vehicle charging points x2.

This list is by no means exhaustive but list the significant improvements.

Energy Performance Rating:
C

Other Information

Related Documents:

Contact Bettesworths

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