Roundham Road, Paignton Offers In Region Of £600,000 (Freehold)

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Location & Description

This interesting investment property has been owned by the same family for many years, first acquired as a trading shop with living accommodation. The building has undergone a skilful conversion into four residential units, all let to long term tenants with two large garage stores, currently vacant, and a very large car park, the majority of which is let to the adjoining business.

The premises have an excellent location overlooking the popular Paignton harbour with 51B having spectacular, uninterrupted views.

 

Accommodation

51 A 2 bed Ground Floor AST £650.00pcm
51 B 2 bed First Floor AST £650.00pcm
51 C 1 bed Ground Floor AST £480.00pcm
51 D 1 bed First Floor AST £411.36pcm

Each flat has 1 allocated car space in the rear car park.

Lower Ground Floor – Carpark Level
Large Workshop/Cellar/Garage

Area 1 6m wide x 20m depth 120m² (1292sq ft)
         2 3m wide x 20m depth 60m² (646sq ft)

This part of the property has not been let but retained as storage by the vendors and will therefore be sold with vacant possession. A parking provision is also retained.

 

Car Park

The property benefits from an extensive carpark. Currently 6 spaces are licenced to Chief Vehicle Services at £25 per week per unit whose unit is adjacent to the site.

Income

The current income of the site are as follows:

4 Residential flats    £26,296.32
Workshop/Storage                               NIL
6 Car Parking Spaces   £7,800.00
Total Gross Income         £34,096.32



Price Offers on region of £600,000 for this valuable mixed freehold investment producing 5.68% initial yield, before cost of purchase.

 

EPC
TBC.

Floor Plans
Please see separate PDF.

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WAYCOTTS (DEVON) LIMITED Trading as WAYCOTTS

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