An attractive and well-located freehold residential investment opportunity comprising a converted former town hall arranged as nine self-contained flats, producing a total income of £76,440 per annum.
The property occupies a prominent position on Totnes Road, within a short level walk of Paignton town centre, local shops, Victoria Park, the bus station and the mainline railway station, making it a highly convenient location for tenants.
The accommodation is arranged over three floors and comprises:
- Six two-bedroom apartments
- Three studio apartments
All units are separately metered, each benefiting from independent utilities and gas-fired combi boiler heating, providing a straightforward and easily managed long-term investment.
Tenure
The property is held freehold. Two units – The Balloon Flat and The Mayor’s Flat – are held on long 125-year leases, both of which are included within the sale.
Current Rental Income
Total income: £76,440 per annum
A full tenancy schedule is available on request
EPC
All flats have an EPC rating of C, with the exception of the Sheriffs Flat which is rated B.
VAT
All figures quoted are exclusive of VAT, whether chargeable or not. Interested parties are advised to make their own enquiries regarding VAT implications.
Viewing
Strictly by prior appointment through the sole agents, Waycotts Chartered Surveyors.
Contact Matty L. Ash or Nick Wheeldon MRICS
T: 01803 403060
E: [email protected]
