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The Riviera, Paignton, Devon, TQ4

PROPERTY TYPE

Block of Apartments

BEDROOMS

11

SIZE

6,264 sq ft

582 sq m

TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Floorplan 1Floorplan 2
3

Key features

  • Newly refurbished residential investment
  • 11 self-contained supported living units (Use Class C3)
  • Comprises 6,264 sq ft GIA
  • Let on a new 20-year FRI lease to Inclusion Homes CIC
  • Current passing rent £131,560 per annum
  • Freehold
  • Offers in excess of £1,800,000 STC
  • Net Initial Yield of 6.88%
  • Very Low Capital Value of £287 per sq ft

Description

An opportunity to acquire a newly refurbished residential investment property providing specialist supported accommodation.

Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.

The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.

Comprises 6,264 sq ft GIA.

Let on a new 20-year FRI lease to Inclusion Homes CIC with annual CPI linked increases.

Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.

Current passing rent £131,560 per annum.

Freehold.

PROPOSAL

Offers are sought in excess of £1,800,000 (One Million Eight Hundred Thousand Pounds) subject to contract.

A purchase as the asking price would reflect a Net Initial Yield of 6.88% assuming standard purchasers costs of 6.22%. This equates to a very low Capital Value of £287 per sq ft.

Brochures

Brochure 1
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
Yes
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent

The Riviera, Paignton, Devon, TQ4

Approximate location
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About ESTATE OFFICE INVESTMENTS LIMITED, London

Ground Floor 1 Finchley Road, London, NW8 9TT

A London based boutique property consultancy with a global track record. We are investment and development land specialists, primarily selling land and buildings with and without planning permission, with a focus on residential blocks and commercial investment opportunities in retail, leisure and office space. We also act on behalf of clients on residential and commercial acquisitions.

Established in 1983 with exceptional combined experience, our dynamic team of fourteen work tirelessly to deliver the best possible outcomes for our clients. Entrepreneurial in style with the success which comes with several decades of service, our clients see Estate Office as their long-standing agency of choice

Your mortgage

Per year
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%
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Years
%
Monthly repayments
£8,579
We think you can borrow up to
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Disclaimer - Property reference TheRivieraDevon. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by ESTATE OFFICE INVESTMENTS LIMITED, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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