COMMERCIAL
SUMMARY
An Outstanding Investment Opportunity - Three Flats & Commercial Shop Premises - 13.54% Yield. The combination of residential and commercial accommodation, established occupiers and a convenient location creates an appealing investment proposition. Connells highly recommend an early viewings
DESCRIPTION
An Outstanding Investment Opportunity - Three Flats & Commercial Shop Premises - 13.54% Yield
Connells are delighted to bring to the market this fantastic mixed-use investment opportunity, comprising three residential flats and a commercial shop premises, all generating an established rental income. With tenants already in situ and an impressive advertised yield of approximately 13.54%, this is an exciting opportunity for investors looking to acquire a property with an existing income stream and excellent potential.
Situated in the popular and convenient area of Paignton, the property enjoys a desirable position close to a range of local shops, transport links and everyday amenities. The location offers excellent convenience for both residential tenants and commercial occupiers, making it an appealing proposition for those seeking a well-positioned investment within the South Devon property market.
Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.
The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.
The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.
Established Rental Income
Established Rental Income
One of the most attractive features of this investment is the existing rental income being generated from the property.
The commercial shop premises are already occupied, whilst each of the three residential flats is also producing an income. This provides a purchaser with the opportunity to acquire an investment that is already operational, rather than facing the initial challenges associated with finding tenants and establishing rental income.
The property is being marketed with an impressive yield of approximately 13.54%, making it an opportunity that is likely to attract considerable interest from investors seeking a strong gross rental return.
For those looking to build a property portfolio, the combination of residential and commercial income can offer an appealing balance, with the potential to benefit from different types of occupiers and rental arrangements.
The established income also provides an opportunity for investors to assess the property's performance using the current rental figures, allowing them to consider the investment in line with their own financial objectives.
Prospective purchasers are encouraged to make their own enquiries regarding the current rental income, tenancy agreements, commercial lease, outgoings and any associated management costs to establish the net return available.
Location
The property is situated in the popular coastal town of Paignton, an established residential and commercial location within the heart of the English Riviera.
Paignton offers a wide range of local amenities, including shops, supermarkets, cafés, restaurants and other everyday facilities. The town also benefits from transport links connecting residents to surrounding areas, making it a convenient location for those living and working locally.
The property's position close to local shops and amenities is particularly appealing for residential tenants, offering the convenience of having everyday facilities within easy reach.
Paignton is also well known for its attractive coastline, sandy beaches and vibrant town centre, providing an appealing lifestyle for residents. The wider Torbay area offers a wealth of attractions, from the picturesque harbour at Brixham to the coastal scenery and countryside surrounding the English Riviera.
The combination of local convenience, transport connections and coastal appeal makes Paignton an established location for both residential and commercial property.
Opportunity For Investors
An Opportunity for Investors
This mixed-use property offers an exciting opportunity for investors seeking an established income-producing asset in a convenient South Devon location.
With three residential flats and a commercial shop premises, the property provides multiple income streams within one investment. The existing tenants offer the benefit of rental income from the outset, whilst the impressive advertised yield of approximately 13.54% makes this a particularly noteworthy opportunity.
Whether you are an experienced landlord looking to expand your portfolio, a commercial investor seeking a mixed-use property, or a buyer looking for an investment with an established income, this property offers plenty to consider.
The combination of residential and commercial accommodation, established occupiers and a convenient location creates an appealing investment proposition.
1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.
Palace Avenue, Paignton
Guide Price
£280,000
- PROPERTY TYPE
Commercial Property
- BEDROOMS
6
- BATHROOMS
3
- SIZE
Ask agent
Key features
- Sale by Modern Auction (T&Cs apply)
- Subject to an undisclosed Reserve Price
- Buyers fees apply
- **** GREAT INVESTMENT****
- IMPRESSIVE 13.54% YIELD
- THREE FLATS & COMMERCIAL PREMISES
- TOWN LOCATION
- TENANTS IN SITU
Description
SUMMARY
An Outstanding Investment Opportunity - Three Flats & Commercial Shop Premises - 13.54% Yield. The combination of residential and commercial accommodation, established occupiers and a convenient location creates an appealing investment proposition. Connells highly recommend an early viewings
DESCRIPTION
An Outstanding Investment Opportunity - Three Flats & Commercial Shop Premises - 13.54% Yield
Connells are delighted to bring to the market this fantastic mixed-use investment opportunity, comprising three residential flats and a commercial shop premises, all generating an established rental income. With tenants already in situ and an impressive advertised yield of approximately 13.54%, this is an exciting opportunity for investors looking to acquire a property with an existing income stream and excellent potential.
Situated in the popular and convenient area of Paignton, the property enjoys a desirable position close to a range of local shops, transport links and everyday amenities. The location offers excellent convenience for both residential tenants and commercial occupiers, making it an appealing proposition for those seeking a well-positioned investment within the South Devon property market.
Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.
The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.
The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.
Established Rental Income
Established Rental Income
One of the most attractive features of this investment is the existing rental income being generated from the property.
The commercial shop premises are already occupied, whilst each of the three residential flats is also producing an income. This provides a purchaser with the opportunity to acquire an investment that is already operational, rather than facing the initial challenges associated with finding tenants and establishing rental income.
The property is being marketed with an impressive yield of approximately 13.54%, making it an opportunity that is likely to attract considerable interest from investors seeking a strong gross rental return.
For those looking to build a property portfolio, the combination of residential and commercial income can offer an appealing balance, with the potential to benefit from different types of occupiers and rental arrangements.
The established income also provides an opportunity for investors to assess the property's performance using the current rental figures, allowing them to consider the investment in line with their own financial objectives.
Prospective purchasers are encouraged to make their own enquiries regarding the current rental income, tenancy agreements, commercial lease, outgoings and any associated management costs to establish the net return available.
Location
The property is situated in the popular coastal town of Paignton, an established residential and commercial location within the heart of the English Riviera.
Paignton offers a wide range of local amenities, including shops, supermarkets, cafés, restaurants and other everyday facilities. The town also benefits from transport links connecting residents to surrounding areas, making it a convenient location for those living and working locally.
The property's position close to local shops and amenities is particularly appealing for residential tenants, offering the convenience of having everyday facilities within easy reach.
Paignton is also well known for its attractive coastline, sandy beaches and vibrant town centre, providing an appealing lifestyle for residents. The wider Torbay area offers a wealth of attractions, from the picturesque harbour at Brixham to the coastal scenery and countryside surrounding the English Riviera.
The combination of local convenience, transport connections and coastal appeal makes Paignton an established location for both residential and commercial property.
Opportunity For Investors
An Opportunity for Investors
This mixed-use property offers an exciting opportunity for investors seeking an established income-producing asset in a convenient South Devon location.
With three residential flats and a commercial shop premises, the property provides multiple income streams within one investment. The existing tenants offer the benefit of rental income from the outset, whilst the impressive advertised yield of approximately 13.54% makes this a particularly noteworthy opportunity.
Whether you are an experienced landlord looking to expand your portfolio, a commercial investor seeking a mixed-use property, or a buyer looking for an investment with an established income, this property offers plenty to consider.
The combination of residential and commercial accommodation, established occupiers and a convenient location creates an appealing investment proposition.
1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.
Brochures
Full DetailsEnergy Performance Certificates
EPCPalace Avenue, Paignton
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Paignton Station0.2 miles
- Torquay Station2.1 miles
- Torre Station2.8 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference PGN313510. 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 Connells, 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.
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 Connells, Paignton on 01803 222258.
*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.”