1 bedroom retirement property for sale

Avenue Road, Torquay, Devon, TQ2

Leasehold £69,950

Property Description

Key features

  • Invest in a suite from 69,950
  • 10% return over a ten-year commercial lease
  • Reserve from just 2,000
  • Multiple buy-back options from year 5 at 110% to year 10 at 125%
  • Hands-off investment. Fully managed
  • Income paid monthly

Full description

Tenure: Leasehold

Bancourt House is a luxury retirement resort based in the Torquay area of Devon - famously known as the English Riviera, aimed at accommodating both short-term and long-term residents.

The former Bancourt House building will be transformed to include 42 luxury studios. On site will be amenities typically associated with luxury, such as a heated swimming pool, exclusive gymnasium, fine dining and bar, private cinema and a hair and beauty salon. Over 2018 the existing building will be transformed to provide elegant socialising and relaxation areas.

Bancourt House investment summary
- Invest from £69,950
- 10% return over a ten-year commercial lease
- Reserve from just £2,000
- Multiple buy-back options from year 5 at 110% to year 10 at 125%
- Hands-off investment. Fully managed
- Income paid monthly

Why invest in luxury retirement homes in Devon?

Luxury care home investment is a relatively new phenomenon, and according to a report by CBRE, "Investors are starting to wake up to this and a 'build to rent' elderly PRS market will emerge, becoming an interesting new option for long income buyers."
Britain's over-65 population is predicted to grow four times faster than the general population over the next five years, and in England alone, the over 60s have £1,200bn in unmortgaged housing wealth. Savvy investors are recognising the lucrative nature of luxury retirement homes as many wealthy elderly people are looking to downsize, so these units sell out very fast - the last development sold out within a day of launch.

Devon is also an extremely popular county with the elderly. There are 160,400 over 65s in Devon, which makes up 21.3% of the total population - 31.5% above the national average, and by 2025 the number of over 70s in Devon is expected to increase by 28.1%.

Enquire today to avoid disappointment and find out more about the benefits of investing in retirement homes in an area with a large elderly population.


Listing History

Added on Rightmove:
13 February 2018

Nearest stations

  • Torre (0.3 mi)
  • Torquay (0.6 mi)
  • Paignton (2.6 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

One Touch Property Investment, London

288 Bishopsgate, City of London, EC2M 4QP

020 8012 4798 Local call rate

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Floorplans

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To view this property or request more details, contact:

One Touch Property Investment, London

288 Bishopsgate, City of London, EC2M 4QP

020 8012 4798 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Torre (0.3 mi)
  • Torquay (0.6 mi)
  • Paignton (2.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

One Touch Property Investment, London

288 Bishopsgate, City of London, EC2M 4QP

020 8012 4798 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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