FOR SALE BY PUBLIC AUCTION - Thursday 6th June 2024\r
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An established and well maintained residential investment comprising 11 flats in a substantial detached property, centrally located in Paignton. The property is fully occupied, producing an annual rental income of £78,468. Potential to increase rents in line with current market rates. There is forecourt parking to the front of the property and a large car park to the rear. Potential for extension of the existing building to create more flats or further development of the site, subject to planning.\r
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Current Monthly Rental Income:\r
Flat 1a -£595.00 Flat 1b - £650.00 Flat 2 - £650.00 Flat 3 - £541.00 Flat 4 - £650.00 Flat 5 - £563.00 Flat 6 - £498.00 Flat 7 - £725.00 Flat 8 - £563.00 Flat 9a - £541.00 Flat 9b - 563.00\r
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Potential rent £87,300 per annum\r
Freehold\r
The properties are individually rated for council tax bands, A (1 bed) or B (2 bed).\r
EPC ratings are C and D.\r
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For more information, legal documents and a guide to the auction process visit our website and download the online auction catalogue.\r
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Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a reserve (unless otherwise stated). The reserve is a figure below which the auctioneer cannot sell the property during the auction. The reserve will be within the guide range or no more than 10% above a single figure guide.