A great residential investment/development opportunity to acquire this detached building consisting of 4 x apartments, along with a large 3-bedroom lodge, set in an ideal, tree-lined location within Paignton, Devon. Due to the good accommodation on offer, there is rarely much movement of tenants. Situated within the beautiful town of Paignton, with low overheads and ample parking for all, this is an opportunity not to be missed. Early viewings are highly recommended.
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Paignton is one of the UK’s most popular holiday destinations, with a good year-round trade and a busy residential population. It is only a short distance from Dartmouth and Brixham, and equidistant to the cities of Plymouth and Exeter, with its international airport, mainline train station, and the M5 motorway. Situated on St Andrews Road, the property is located just a short walking distance from the picturesque Marina and Harbour, which is a level walk along the Esplanade with lovely sea views.
This property has been successfully owner-operated for many years, together with a local agent who, when required, obtains new tenants for the owner. The passive income is impressive, and due to the low overheads, the subsequent net profits are very good too. This turnkey investment offers much higher returns than a bank and not to mention the capital growth! Actual trading accounts will be made available following a successful formal viewing.
ACCOMMODATION COMPRISES
HOLLY LODGE
4 x self-contained apartments.
HOLLY COTTAGE
1 x three-bedroom lodge.
FIXTURES AND FITTINGS
All trade fixtures and fittings will be included in this sale. A full inventory will be provided prior to the exchange of contracts. No testing of these fixtures or any appliances 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. All services have been separated apart from the water, which is included in the tenants’ rent.
COUNCIL TAX
Please make enquiries on the local valuation website (VOA).
TENURE
Freehold (the property is offered tenanted and both Holly Cottage and Holly Lodge are on separate titles or can be put together subject to exchange of contracts, if required).
VIEWINGS
All viewings and enquiries are to be made through the agents, Ware Commercial.
TEL. 01803 328880 or 01392 462266
Email: info@warecommercial.com
Website: www.warecommercial.com
