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9 bedroom block of apartments for sale
Old Town Hall, Totnes Road, Paignton, TQ4 5JY
£800,000
Old Town Hall, Totnes Road, Paignton, TQ4 5JY
£800,000
Our Summary
- An attractive and well-located freehold residential investment opportunity comprising a converted former town hall arranged as nine self-contained flats, producing a total income of £76,440 per annum
Description
This property is a converted former town hall in Paignton, Devon, which has been transformed into nine self-contained flats. The property is located in a prominent position on Totnes Road, within walking distance to the town centre, shops, park, bus station, and mainline railway station, making it a highly convenient location for tenants. The flats are arranged over three floors and consist of six two-bedroom apartments and three studio apartments, each with its own separate utilities and gas-fired combi boiler heating. The property produces a total income of £76,440 per annum and is held freehold, with two units held on long 125-year leases. The property has an EPC rating of C, with the exception of one flat, which is rated B.