New Street, Paignton
- PROPERTY TYPE
Block of Apartments
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- INVESTMENT OPPORTUNITY
- ALL EPC OR ABOVE
- ALL CURRENTLY LET
Description
Are you looking for a fantastic investment opportunity in Torbay? The Old Town Hall is a former municipal building in New Street in Paignton, built in 1870. It served as the offices of Paignton Urban District Council until 1946, but was later converted for residential use.
The building now consists of 3 Studio flats and 6 x 2 Bedroom flats all let on AST's producing an annual income of £66,000 pa, the properties are, in our opinion, lower than market value and we would expect them to achieve around £550 for each studio and £750 for each 2 bedroom flat giving a potential annual income of £73,800.
The building consists of the following:
GF Studio (Banksies flat), £480 pcm, 27m2. EPC C
1F Studio (Deputies flat), £490 PCM, 27m2. EPC C
2F studio (Possies pad), £550 pcm, 21m2. EPC C
GF 2 bed (Old Town hall flat), £625 pcm, 46m2. EPC C (separate post code TQ4 5JY)
GF 2 bed (Balloon flat), £670 pcm, 56m2. EPC C
1F 2 bed flat (Mayors flat), £670 pcm, 59m2. EPC C
1F 2 bed flat (Sheriffs flat), £670 pcm, 50m2. EPC B
2F 2 bed flat (Penthouse flat), £670 pcm, 51m2. EPC C
2F 2 bed flat (Lofthouse flat), £690 pcm, 61m2. EPC C
*All flats have independent gas, electric & water supplies, gas combi boilers and double glazed windows *
The sale is for the freehold of the building, 2 of the flats are on 125 year leases for mortgage purposes, the leases are also included in the sale.
Contact us now for more details or to arrange a viewing
- 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.
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- 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
New Street, Paignton
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Visit our security centre to find out moreDisclaimer - Property reference L815274. 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 Ridgewater, Paignton. 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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