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14 bedroom detached house for sale
Outland Road, Plymouth, Devon, PL2
£900,000
Outland Road, Plymouth, Devon, PL2
£900,000
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. With 14 fully tenanted rooms and a separate one-bedroom bungalow, the property generates a total annual income of £83,112, rising to £88,608 when the advertised room is filled. The tenants are working professionals or semi-retired individuals, ensuring stability and reliable income. The property also has value-added potential, with the detached bungalow offering 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, including upgrading rooms, converting space into self-contained flats, or redeveloping the site into a modern apartment block. With steady income, valuable amenities, and a range of redevelopment options, this property stands out as an exceptional opportunity in today's market.