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Six Residential Apartments For Sale

Paignton, Devon, UK
Asking Price:
£585,000 Furniture / Fixtures included
Turnover:
£43,140
Net Profit:
Available on request

Cavendish Court Apartments, 4 St Andrews Road, Paignton, Devon.
Just minutes to two beaches, many bars and restaurants and with distant sea views from the top floor, this substantial property was built circa 1905 and was converted into apartments in 2001.
All six apartments have allocated parking, there is a detached garage, a twin car port and bike store.
There are three separate staircases inside the property.
There is also a small side garden attached to the former owners accommodation.( Flat 6 )
The property was granted a Legal Use Certificate for six residential flats in 2018.
The current owner chooses to rent the apartments out on short-hold six month tenancy agreements.
Previous owners have used the building for holiday accommodation.
The property is within walking distance of Paignton seafront, harbour and the town centre.
The property has the benefit of part upvc double glazing and full gas central heating.
Planning permission was granted in 2018 to build a self contained annex at the rear of the property.

The freehold is available at £585,000. ( Fixed Price / No Chain )

Note:
The property is being sold as an investment with tenants in situ.
I am looking to sell to a cash buyer who will purchase the building with minimum disruption to tenants.

For more information, please contact us by using the form below.

Property Information

Property:

Freehold

Living Accommodation:

This ground and first floor maisonette ( Flat 6) comprising downstairs : Kitchen / Breakfast Room, Cloakroom, Office Area, Lounge / Diner, Conservatory with air con, on the first floor is a Large Double Bedroom with fitted wardrobes, Shower Room / WC and Boiler Room, outside Car Port and Garage.There is potential to create an additional en suite ground floor double bedroom from the existing accommodation.This apartment has a market value rent of £695 pcm.

Location:

Cavendish Court is situated in the popular and attractive Roundham with Hyde conservation area of Paignton, convenient for the Seafront, Harbourside, Town Centre and other principle resort amenities. Paignton is part of Torbay, one of the UK's most popular tourist destinations known as the English Riviera with easy road and rail links to Exeter, Plymouth and the M5
Motorway.

Premises Details:

Three storey semi detached Edwardian building with large rear extension and detached garage.
The freehold property is converted into six one bedroom apartments and all are let on a assured short hold tenancys with monthly rents ranging from £550 - £695 per calendar month.

All rents are inclusive of water rates and background central heating (October to April).
Tenants are responsible for Council Tax and TV Licence.
Electricity via coin meters totals approx £2160 per annum.

FLAT ONE - Lounge / Kitchen,Bedroom,Bathroom / EPC - E / £575 pcm.
FLAT TWO - Lounge,Kitchen,Bedroom with en suite Bathroom / EPC - D / £550 pcm.
FLAT THREE - Lounge / Kitchen,Bedroom,Bathroom / EPC - D / £550 pcm.
FLAT FOUR - Lounge / Diner,Kitchen,Bedroom,Bathroom,Sep WC / EPC - D / £650 pcm.
FLAT FIVE - Lounge,Kitchen,Bedroom,Shower room / EPC - D / £575 pcm.
FLAT SIX - Formerly Owners Living Accommodation / EPC - E / £695 pcm. *
* Vacant possession of flat six on completion.

FIXTURES & FITTINGS

Trade fixtures, fittings, equipment, land and buildings, with exception of vendor’s private inventory, will be included in this freehold sale.A full inventory will be provided prior to exchange of contracts.

SERVICES.

Mains gas, electricity, water and drainage are all connected.

LEGAL FEES.

Each party to bear their own legal fees in connection with the sale / purchase of this business.

VIEWINGS.

All viewings and enquiries are to be made via this website directly to the vendor.
Send contact details for further information.

Planning Consent:

Construction of detached annex.
Replace conservatory with extension.
Replace rear extension flat roof with pitched roof.

Business Operation

Expansion Potential:

Apartments 4 and 6 are both very spacious and could be converted to two bedroom apartments.

Reasons for selling:

Relocation.

Employees:
None.
Years established:
20 years.

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