Block of apartments for sale

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Block of apartments for sale

Polsham Park, Paignton
£590,000

Our Summary

  • An ideal home and income or investment purchase with potential to increase the yield
  • Planning permission (now lapsed) was obtained in 2013 (P/2013/1274) for an extension to the rear to make two of the flats (29 and 29B) into 2 bedroom flats and make flat E bigger

Description

This substantial detached house is arranged as five self-contained apartments, currently let on assured shorthold tenancies, with the ground floor flat occupied by the owner and featuring an attractive garden. The property offers parking for all apartments and is situated in a sought-after central location, close to Victoria Park and the town centre. Each apartment has a 999-year lease, separate meters for electricity and water, and individual council tax accounts. The property has potential to increase its yield, with planning permission previously granted for an extension to create larger flats. The current rental income from the five apartments, including the owner's flat, is £38,880 per annum.
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