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East Street, Newton Abbot

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Key features

  • Sold by Traditional Auction
  • Great Investment Opportunity
  • Three Flats
  • Two One Bedroom Flats
  • One Two Bedroom Flat
  • Yearly Income of £24,000
  • Town Centre Location
  • Long Lease
  • Excellent Yield
  • Auction Ends 4th September 2026 12.00 noon

Description

An attractive multi unit residential investment comprising three separately let units, currently producing a combined rental income of £24,000 per annum. The property benefits from a 999 year lease commencing in 2022 and is offered subject to the existing assured periodic tenancies.

The accommodation comprises a mix of one and two bedroom units, providing a diversified rental profile and broad appeal within the local rental market. The existing tenancies provide an established income stream for the incoming investor, with potential for future rental growth subject to market conditions, tenancy arrangements and any necessary consents.

ACCOMMODATION

55A: A self contained one bedroom unit comprising a kitchen/living room, bedroom and bathroom/WC.

55B: A self contained two bedroom unit comprising an entrance hallway, kitchen/living/dining room, two bedrooms and bathroom/WC.

53A: A self contained one bedroom unit comprising a kitchen/living/dining room, bedroom and shower room/WC.

TENANCY INFORMATION

55A: Let on an assured periodic tenancy at a current rent of £7,200 per annum.

55B: Let on an assured periodic tenancy at a current rent of £9,000 per annum.

53A: Let on an assured periodic tenancy at a current rent of £7,800 per annum.

The three units currently produce a combined rental income of £24,000 per annum, providing the incoming investor with an established rental income stream from completion, subject to the existing tenancy arrangements.

TENURE

Leasehold with a 999 year lease commencing in 2022, subject to the existing tenancies. 
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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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East Street, Newton Abbot

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Affordability

Monthly repayments£1,129
Property: £ 225,000
Deposit: £ 22,500
Interest rate: 5.33%
Term: 30 years
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About Complete, Newton Abbot

79 Queen Street, Newton Abbot, Devon, TQ12 2AU
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We are a well-established and independent business that has a reputation for achieving the best possible price for our sellers by using exceptional marketing, combined with a pro-active approach from an experienced team.

To us 'Complete' is more than just a name. It's a whole way of thinking and working that ensures our service is as thorough as it possibly can be. For example, we're unusual in that we don't ever conduct a viewing without the negotiator having visited your home to absorb everything about it and to fully understand a property first. And when it comes to launching your property to the market we believe that the way we can help you achieve the best price is by ensuring we expose your property to the widest possible audience across a number of channels. Nor do we down-tools when an offer is accepted. Instead our Sales Progression Manager picks up your sale, to make sure it goes through smoothly and on time.

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Disclaimer - Property reference 101182025800. 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 Complete, Newton Abbot. 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.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Complete, Newton Abbot on 01626 362246.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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