Bettesworths Commercial
29-30 Fleet Street
Torquay
Devon
TQ1 1BB
01803 212021
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Energy Performance CertificateFreehold Residential Investment For Sale. Six Letting Units with Established Occupancy History.
Situated within the heart of Paignton, 5 New Street occupies a convenient town centre location within walking distance of shops, supermarkets, public transport links, the railway station and seafront.
The property benefits from easy access to local employment opportunities and amenities, making it particularly attractive to tenants seeking affordable and conveniently located accommodation.
An excellent opportunity to acquire a freehold residential investment property comprising six letting units with a current gross rental income of £30,356.04 per annum (when fully let).
The accommodation is arranged as a mixture of 2x self-contained flats and 4x studio-style units with shared bathroom facilities.
One-bedroom self-contained flat comprising bedroom, kitchen/lounge and private shower room/WC.
Studio room with access to shared shower and WC facilities.
One-bedroom unit comprising bedroom and kitchen/lounge area with shared shower and WC facilities.
Studio room with shared shower and WC facilities. Currently vacant following the relocation of the tenant to Flat 6.
One-bedroom flat with additional small room, kitchen/lounge and private shower room/WC.
Studio room with shared shower and WC facilities.
Freehold, subject to the existing residential occupancies.
Flat 1 - 1 Bedroom Self-Contained Flat. Flat 2 - Studio with Shared Facilities. Flat 3 - 1 Bedroom Unit with Shared Facilities. Flat 4 - Studio with Shared Facilities - Vacant. Flat 5 - 1 Bedroom Flat with Additional Room. Flat 6 - Studio with Shared Facilities. Gross Rental Income: £30,356.04 per annum (when fully let).
£265,000 Freehold.
The property has the following EPC ratings: Flat 1 – D. Flat 2 – C. Flat 3 – C. Flat 4 – D. Flat 5 – D. Flat 6 – D. Copies of EPC certificates are available upon request.
The landlord currently pays council tax on four of the units at approximately £1,560 per annum. Flat 1 and Flat 5 are separately assessed and are the responsibility of the occupiers.
The building is connected to mains electricity, water and drainage, with no gas supply connected. Heating is provided by a combination of night storage heaters and electric panel heaters. Tenants have individual electricity meters connected directly to their supplier and manage their own accounts through a mobile application. The Landlord pays the water.
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
