Property Description

A freehold ideal investment opportunity located along Winner Street, Paignton benefitting from an income of £37,000 per annum and comprising five apartments (plus one single room) and two commercial units over three storeys. The property is Situated on Winner Street, Paignton. A good trading location in the heart of Paignton. Benefits from high pedestrian and vehicular passing trade along with several national and local retailers within the vicinity. Bus and rail connections are close by. Interested parties are advised to inspect the legal pack for more information.

Commercial unit:

Ground floor (301 square feet)- currently let at £165 per calendar month

Flat A:

First Floor one bedroom apartment (473 square feet)- assured shorthold tenancy at £500 per calendar month

Flat B:

First floor one bedroom apartment (354 square feet)- assured shorthold tenancy at £500 per calendar month

Commercial unit:

Front ground floor (188 square feet) - currently let at £165 per calendar month

Flat One:

Ground floor studio (224 square feet) - assured shorthold tenancy at £470 per calendar month

Room One:

First floor single room (134 square feet) - vacant possession

Flat Two:

First floor two bedroom flat (520 square feet) - assured shorthold tenancy at £650 per calendar month

Flat Three:

Second floor two bedroom flat (601 square feet) - assured shorthold tenancy at £635 per calendar month

Total income:

£3,085 per calendar month/£37,020 per annum with a potential for circa £43,000 - £45,000 at full market rent (based on comparable evidence)

Note:

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Tenure

Freehold

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