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Outland Road, Devon PL2 14 bed detached house for sale
Outland Road, Devon PL2
£900,000
Outland Road, 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 rare investment opportunity offers a unique combination of immediate income generation and substantial potential for future growth. The property boasts 14 fully tenanted rooms and a separate one-bedroom bungalow, generating a total annual income of £83,112 (8.31% yield) with the potential to increase to £88,608 (8.81% yield) when the remaining room is filled. The tenants are working professionals and semi-retired individuals, ensuring stability and reliable income. The property also offers value-added potential, including the possibility of redeveloping the detached bungalow into a separate dwelling or upgrading existing rooms with en-suite facilities. Strategically positioned for redevelopment, the property presents multiple avenues to maximize its value, making it an exceptional investment opportunity in today's market.