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Hotel for sale

Adelphi Road, Paignton

Withdrawn from Market £700,000

Property Description

Full description

Tenure: Freehold

Adelphi lane lies just behind the Esplanade some 100m from Paignton Sands as well as being within a reasonable level walk to Paignton town centre with all its attractions and services.

Paignton is the oldest of the 3 towns that comprise Torbay. The distinctive red sandstone and renowned beaches attracts many repeat tourists as well as being a preferred place to live.

Harbour Mews has been run until recently as a holiday letting business and can be continued if so desired as the sale will include all trade furnishings, fittings and effects in the properties if required.

However, the Vendors have now obtained a variation on the planning consent allowing the premises to be occupied all year and not restricted thus allowing them to be let on 6 month & assured shorthold tenancies.

This flexibility allows the purchaser options in generating income from their investment.

Given that all the apartments and the 2 houses are self contained a purchaser may wish to use a unit for their own occupation.

Attached to these particulars are floor plans which although not to scale show the layout of the properties.

Ground Floor: Adelphi + Beacon
First Floor: Cockington + Dittisham
Second Floor: Elbury + Fisherman
Cottage 1: Goodrington
Cottage 2: Hollyhocks

The property sits within its own communal gardens and there is adequate on-site parking to 8 + vehicles.

The holiday business offers self catering apartments with a target occupation of 3-4 persons although with utilisation of the bed settee in the lounge would allow for the maximum occupation of 6 persons. Pricing is quotes as being between £200-£620 per week for 3-4 persons with a discount for under occupancy and a surcharge for larger parties.

Details of trading accounts will be made available once a viewing has taken place and proof of ability to purchase is provided. In the first instance we are happy to discuss this business and give an indication of turnover figures.

EPC - All units have an individual EPC.

Viewing by appointment only please WAYCOTTS COMMERCIAL 01803 403060

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