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Torquay

GROUND FLOORFIRST FLOOR
2

Key features

  • Freehold Residential Investment Opportunity
  • Arranged as Two 1-Bedroom and a 1-Bedroom House
  • Fully Let Producing Over 10% Gross Return
  • Centrally Located Close to Torquay Town Centre and Harbourside
  • No Gas - Each Unit with Individual Electric & Water Supplies

Description

Freehold Residential Investment Opportunity. Fully Let Producing Over 10% Gross Return. 

The property is located on Melville Street, a popular residential street positioned just a short walk from Torquay’s town centre and Harbourside. This location is highly convenient for tenants, offering easy access to shops, restaurants, bars, the seafront and public transport links. Flats 3, 4 & 5, Travis House represent an excellent opportunity to acquire a fully let, freehold residential investment. The property is arranged as three self-contained 1-bedroom units, with two flats and one house.  The freehold includes Flats 3, 4 & 5, with Flats 1 & 2 Travis House being separately owned under long leasehold titles. The long leaseholders of Flats 1 & 2 contribute towards the building’s insurance and maintenance costs, helping to offset the landlord’s outgoings.All three units are currently tenanted on Assured Shorthold Tenancies (ASTs. The building is free from gas supply with each flat having its own water and electricity connections.

TENURE

The property is offered for sale Freehold, subject to the existing Assured Shorthold Tenancies on each flat and the long leasehold interests on Flats 1 & 2.

RENT SCHEDULE

• Flat 3: £650 pcm.
• Flat 4: £375 pcm.
• Flat 5: £500 pcm.

Current total confirmed income: £1,150 pcm (with Flat 4 TBC).

SALE PRICE

An asking price of £200,000.

LEGAL COSTS

Each party will be responsible for their own legal costs incurred in the transaction.

COUNCIL TAX

All three flats are rated Council Tax Band A.

EPC RATINGS

Flat 3: Rating E.
Flat 4: Awaited.
Flat 5: Rating C.

VIEWING

Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.

Brochures

Property BrochureFull Details
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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About Bettesworths, Devon

Fleet Street, Torquay, TQ1 1BB

Bettesworths is an independent family business, owned and run by the third generation Chartered Surveyor Directors, Matt & Paul.

We have an experienced team, highly skilled and expert in delivering a broad range of services to clients looking for the very best results.

Our breadth of experience across all property sectors, the depth of our day to day involvement and our technical knowledge gives Bettesworths an unrivalled platform from which to provide advice to meet our clients’ needs.

Our clients range from private individual property owners and occupiers to PLC institutions. We ensure each and every one is best supported with a service with which to meet the challenges and changes in the market and their own circumstances.

We offer free initial consultations without obligation, so please contact a member of our team to discuss your requirements.

Your mortgage

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Disclaimer - Property reference 12703470. 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 Bettesworths, Devon. 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.

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