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6 bedroom apartment for sale
George Street, Plymouth PL1
£360,000
George Street, Plymouth PL1
£360,000
Our Summary
- Whilst the building is being sold as an ongoing investment opportunity with tenants in situ, there is still further development potential to increase the value (subject to consents)
- The breakdown is as follows - Flat 1 £650 PCM Flat 2 £725 PCM Flat 3 £650 PCM Flat 4 £500 PCM Flat 5 £545 PCM Flat 6 £490 PCM The property has a variety of options including but not limited to, conversion into a House of Multiple Occupancy (Ideally located outside of the Article 4 Directive) or further development by converting the loft space or basement to create extra apartments as well as Flat 2 which can be split into two individual - all subject to necessary consents
- VIEWINGS - Regular block viewing sessions will be provided in the lead up to the auction
- Please telephone Auction House South West T:[use Contact Agent Button] to request a viewing
- Legal Pack - Part of the auction legal pack is available to download
- NOTICE TO BIDDER - Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction
Description
This block of six apartments is a freehold investment property located in the Devonport regeneration area, close to the water's edge and transport links to Plymouth city center. The property is a grade 2 listed building that was originally the Admiral's Quarter, and it offers a unique opportunity to acquire a freehold investment with tenants in situ. The property is currently producing a gross annual income of £42,720 and has a variety of options for further development, including converting the loft space or basement to create extra apartments, subject to necessary consents. The property has a mix of one and two-bedroom apartments, with a breakdown of rent as follows: Flat 1 - £650 PCM, Flat 2 - £725 PCM, Flat 3 - £650 PCM, Flat 4 - £500 PCM, Flat 5 - £545 PCM, and Flat 6 - £490 PCM. Viewings are available by appointment, and the property is being sold through Auction House South West.