Block of Apartments for Sale Meadfoot Lane, Torquay, TQ1 2BW

Key Features

Description

A fully let freehold investment property comprising four self-contained apartments within a semi-detached grade II listed property. The block is a freehold while each apartment is held on a 999-year lease from 2006, offering excellent long-term security and financing flexibility. The property also includes a garage with rental income.

All apartments are on Assured Shorthold Tenancies (ASTs) with established tenants, generating a combined rental income of approx. £32,220 per annum. Apartments 1, 2, and 4 have recently undergone full refurbishment.

With a location near Torquay's waterside and town centre, the property is in a highly desirable location for prospective tenants. A bustling harbour side is located nearby, offering a variety of amenities, including restaurants, cafes, and local attractions. In addition, Torre Abbey and The Princess Theatre are both situated close to the property, as well as Torquay's deep-water marina.

Apartment 1:
This apartment features a stepped entrance that leads to a private door and reception area. A flight of stairs leads to apartment 1, which is located on the first floor. The apartment occupies the entire top floor and features a spacious living room with a picturesque view of the surrounding area, a kitchen, a large bathroom, a double bedroom, and a separate W/C.
Current rent: £710pcm
Council tax band: A
EPC: E

Apartment 2:
The apartment is situated on the side of the property and can be accessed via a shared courtyard. It has a private entrance door leading to the kitchen, which connects to a sitting room with a shower room attached. The sitting room provides access to a double bedroom.
Current rent: £725pcm
Council tax band: A
EPC: E

Apartment 3:
The apartment is accessible through a private entrance located on the side of the property. From this central area, there is a living room and bedroom that are open plan, as well as a kitchen and a bathroom.
Current rent: £525pcm
Council tax band: A
EPC: E

Apartment 4:
The apartment can be accessed via a stepped approach leading to a shared courtyard on the side of the property. With no neighbours above or below, it offers the privacy of a compact bungalow. A private entrance door leads into an open-plan living room and kitchen, while a good sized bedroom can be reached from the living room and a bathroom can be accessed from the kitchen.
Current rent: £625pcm
Council tax band: A
EPC: E

Garage:
At the front of the building, there is a garage that is equipped with lighting and electricity. An up-and-over door gives access to the garage..
Current rent: £100pcm

Annual Total: £32,220

Tenure: Freehold

These particulars do not constitute any part of an offer or a contract. All statements contained in these particulars are made without responsibility on the part of Daniel Hobbin Estate Agents Limited. Where every attempt has been made to ensure the accuracy of the floorplan contained here, any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulations or other consents. Daniel Hobbin Estate Agents Limited have not tested any services, equipment or facilities. Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.