Torrington, Devon

A rare opportunity indeed!

This substantial property, run as a house of multiple occupancy since 2013, with license recently renewed for the next five years. It provides five lettable rooms for six people, (two with ensuites) as well as a communal bathroom. The property generates a good regular income providing a gross return currently of 9.5% based on the current yields. The rooms are let on an all-inclusive basis with all bills paid. The vendors inform us that their annual running cost of the building is currently £7000 per year and is fully inclusive of everything from heating, electric and water to internet and licencing. There is a communal sitting room and kitchen with two brand new ovens and hobs, a cloakroom and utility / store room as well as an occasional / guest room on the ground floor. The first of the room lets is also located on the ground floor towards the front of the building.

Three more room lets (one with an ensuite shower room) are located on the middle level along with a communal four piece bathroom. The remaining room let is on the second floor and has its own cloakroom.

The current vendor has really kept on top of things in the property allowing for a smooth transition onto the next owner providing an all ready to go income generator. For further information about this fantastic opportunity call our office today.

As an indication each room varies in monthly income but currently produces the following:

Room 1: £400pcm
Room 2: £400pcm
Room 3: £390pcm
Room 4: £520pcm
Room 5: £520pcm + £346pcm

The vendor informs us that the property is thought to be constructed of predominately stone, brick and render under a slate roof. Your surveyor or conveyancer may be able to clarify further following their investigations.

Heating: Gas combi boiler (New in May 2022)

Mains water - Mains electric - Mains drainage - Landline telephone.

Broadband coverage: Superfast available up to 80mbps (information taken from Ofcom checker)

Mobile phone coverage: Is limited indoors and likely outdoors (see Ofcom checker for further information)



Directions
On foot from our office in Well Street, continue East to the cross road. Continue straight over the junction to where the house is located on the left hand side.