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11 Orchard Gardens, Teignmouth TQ14 Block of apartments for sale
11 Orchard Gardens, Teignmouth TQ14
£800,000
11 Orchard Gardens, Teignmouth TQ14
£800,000
Our Summary
- This location would particularly appeal to investors looking to attract long-term tenants, young professionals, or those exploring holiday lets subject to necessary consents
- While the flats are generally in lettable condition, several would benefit from modernisation, presenting a strong opportunity to uplift rental values
- The flats are let to a mix of long-term tenants, with rents understood to be historically low, presenting potential for future uplift
- There is opportunity to increase this through refurbishment and reletting at market rates
- Scope to Add Value Via Refurbishment, Rent Increases & Potential Title Split
Description
Belvic Court is a charming period block of eight self-contained flats located in the heart of Teignmouth, a thriving coastal town in South Devon. The property retains many original features, including ornate plasterwork, wide staircases, and high ceilings, and is arranged over six floors. The flats are let to a mix of long-term tenants, with rents understood to be historically low, presenting potential for future uplift. The property generates a gross rental income of approximately £49,300 per annum, with opportunity to increase this through refurbishment and reletting at market rates. The flats are in generally lettable condition, but several would benefit from modernisation. The property is being sold for £800,000 exclusive, with each party responsible for their own legal costs unless agreed otherwise. Viewings are highly recommended and can be arranged by prior appointment with the agents.