Residential Investment Opportunity with 4 Apartments and Large Lodge in Paignton Devon for Sale
Paignton, Devon
- Status
FOR SALE
- Advert ID
617046
- Reference
HollyCottage&Lodge / Rightbiz
- Call Agent:
- Freehold: £595,000
- Turnover: On request
- Net Profit: On request
Business Details
A Great Residential Investment Development for sale
A great residential investment/development opportunity to acquire this detached building consisting of 4 x apartments, along with a large 3-bedroom lodge, set in an ideal, tree-lined location within Paignton, Devon. Due to the good accommodation on offer, there is rarely much movement of tenants. Situated within the beautiful town of Paignton, with low overheads and ample parking for all, this is an opportunity not to be missed. Early viewings are highly recommended.
Paignton is one of the UK’s most popular holiday destinations, with a good year-round trade and a busy residential population. It is only a short distance from Dartmouth and Brixham, and equidistant to the cities of Plymouth and Exeter, with its international airport, mainline train station, and the M5 motorway. Situated on St Andrews Road, the property is located just a short walking distance from the picturesque Marina and Harbour, which is a level walk along the Esplanade with lovely sea views.
This property has been successfully owner-operated for many years, together with a local agent who, when required, obtains new tenants for the owner. The passive income is impressive, and due to the low overheads, the subsequent net profits are very good too. This turnkey investment offers much higher returns than a bank and not to mention the capital growth! Actual trading accounts will be made available following a successful formal viewing.
ACCOMMODATION COMPRISES
HOLLY LODGE
4 x self-contained apartments.
HOLLY COTTAGE
1 x three-bedroom lodge.
FIXTURES AND FITTINGS
All trade fixtures and fittings will be included in this sale. A full inventory will be provided prior to the exchange of contracts. No testing of these fixtures or any appliances has been undertaken by the agents, Ware Commercial.
SERVICES
Mains gas, electricity, water, broadband, and drainage are all connected. No testing of these services has been undertaken by the agents, Ware Commercial. All services have been separated apart from the water, which is included in the tenants' rent.
COUNCIL TAX
Please make enquiries on the local valuation website (VOA).
TENURE
Freehold (the property is offered tenanted and both Holly Cottage and Holly Lodge are on separate titles or can be put together subject to exchange of contracts, if required).
VIEWINGS
All viewings and enquiries are to be made through the agents, Ware Commercial.
TEL. 01803 328880 or 01392 462266
Email: [email protected]
Website: www.warecommercial.com
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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