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Outland Road, Devon PL2 14 bed detached house for sale
Outland Road, Devon PL2
£800,000
Outland Road, Devon PL2
£800,000
Our Summary
- *Upcoming Open Day Event - Viewings strictly by appointment only*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 property is a rare investment opportunity that offers immediate income generation and substantial potential for future growth. The property has 14 fully tenanted rooms and a separate semi-detached one-bedroom bungalow, generating a total annual income of £83,112 (8.31% yield) and rising to £88,608 (8.81% yield) when the advertised room is filled. The tenants are working professionals or semi-retired individuals, ensuring stability and reliable income. The property has value-added potential, with the detached bungalow offering scope for a retrospective planning application to establish it as a separate dwelling. Additionally, the property has private car parking, a generous garden, and further parking spaces, enhancing its desirability to current and future tenants. Strategically positioned for redevelopment, the property offers multiple avenues to maximize its value, including upgrading existing rooms, converting the space into self-contained flats, or redeveloping the site into a modern apartment block.