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Outland Road, Plymouth PL2 14 bed detached house for sale
Outland Road, Plymouth, Devon, PL2
£800,000
Outland Road, Plymouth, Devon, PL2
£800,000
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 offers a unique combination of immediate income generation and 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 (10.31% yield) with room for increase. The tenants are stable working professionals and semi-retirees, ensuring reliable income. The property also boasts value-added potential, with the bungalow offering scope for a retrospective planning application to establish it as a separate dwelling, and the possibility to upgrade existing rooms, convert space into self-contained flats, or redevelop the site into a modern apartment block. With its steady income, valuable amenities, and range of redevelopment options, this property stands out as an exceptional investment opportunity in today's market.