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Outland Road, Devon PL2 14 bed detached house for sale
Outland Road, Plymouth, Devon, PL2
£1,000,000
Outland Road, Plymouth, Devon, PL2
£1,000,000
Our Summary
- This property is a rare investment opportunity that combines immediate income generation with substantial potential for future growth
- The detached bungalow, with its own entrance and courtyard, has been continuously let since December 2017, and offers scope for a retrospective planning application to establish it as a separate dwelling
- Strategically positioned for redevelopment, the property offers multiple avenues to maximize its value
- Whether it's upgrading existing rooms with en-suite facilities, converting the space into self-contained flats, or redeveloping the site into a modern apartment block with the potential for a dozen or more units, the possibilities are both lucrative and varied
- This is more than just a property—it's a high-yielding investment with untapped potential for even greater returns
Description
This rare investment opportunity combines immediate income generation with substantial potential for future growth. The property features 14 fully tenanted rooms and a separate one-bedroom bungalow, generating a total annual income of £83,112 (8.31% yield) with potential to increase to £88,608 (8.81% yield) when the advertised room is filled. The property is already a strong performer, with working professionals and semi-retired individuals as tenants, ensuring stability and reliable income. Additionally, the bungalow has potential for a retrospective planning application to establish it as a separate dwelling, and the property offers multiple avenues for redevelopment, including upgrading rooms, converting space into self-contained flats, or redeveloping the site into a modern apartment block. With steady income, valuable amenities, and redevelopment options, this property stands out as an exceptional opportunity in today's market.