9-11 Elmsleigh Road, Paignton, Torbay, TQ4 5AX | Property for sale | Savills
Guide price £690,000(€816,678)

9-11 Elmsleigh RoadPaignton, Torbay, TQ4 5AX

  • New
  • Sole agency
  • Freehold
Investment
Yield 11%Yield

Key features

  • Investment let at £79,315 p.a. (11.49% GIY on guide)
  • ERV of £87,340 p.a.
  • Unbroken block of 11 flats (9 x 1 bedroom and 2 x 2 bedroom)
  • Break up potential to sell off the flats separately
  • Situated on 0.23 acre site
  • Large car park to rear an approx. 15 car parking spaces

A freehold unbroken block of 11 flats (9 x 1 bedroom and 2 x 2 bedroom) occupying a site of 0.23 acres. The flats are let on AST's producing £79,315 pa.

About this property

  • 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 £79,315 p.a. 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.

Additional information

  • Comprising of 11 flats
  • Let on AST's
  • Flat 1A - £7,140 p.a.
  • Flat 1B - £7,800 p.a.
  • Flat 2 - £7,800 p.a.
  • Flat 3 - £6,492 p.a.
  • Flat 4 - £8,400 p.a.
  • Flat 5 - £6,499.92 p.a.
  • Flat 6 - £5,979.96 p.a.
  • Flat 7 - £8,400 p.a.
  • Flat 8 - £6,759.96 p.a.
  • Flat 9A - £6,533 p.a.
  • Flat 9B - £6,759.96
  • Total = £79,315.80 p.a.