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

Features

As an investment property, this semi-detached grade II listed property consists of four self-contained apartments. Each apartment has its own private entrance and a shared courtyard for apartments 3 and 4. This property has established tenants and is located in a convenient and desirable area.

Upon purchasing the property in 2006, the current owners created leases for the four apartments. This provided flexibility in financing and future resale, and this will also benefit the new owners. The seller has decided to sell the property in order to downsize their business interests and release equity for a change of lifestyle.

In all four apartments, assured shorthold tenancies are in place. Rents include central heating, which is provided by a boiler located in the garage. Apartments and tenants are responsible for their own metered electricity, water, and council taxes. The property has a freehold title, while each of the four apartments has a lease of 999 years commencing on 11/10/2006. This enables any potential buyer to mortgage the apartments individually or as a block.

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, which offers a variety of amenities, including a variety of restaurants, cafes, and local attractions. In addition, Torre Abbey and The Princess Theatre are both situated in close proximity to the property, as well as Torquay's deep-water marina. Located at the harbourside, The Strand provides public transportation to a range of destinations, while Torquay Train Station is approximately 1 mile away.

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: £550pcm
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: £477.75pcm
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: £476.66pcm
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: £429.95pcm
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 which houses the communal gas boiler.
Current rent: £86.66pcm

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.