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Our Summary
- POTENTIAL FOR FURTHER DEVELOPMENT ON PLOT (STPP)
- For sale by Online Auction
- UNBROKEN BLOCK OF 7 APARTMENTS - GENERATING £67,200PA Description This well managed and maintained unbroken block of 7 apartments is to be sold at auction on 30TH July 2026 PLEASE REGISTER ON AUCTIONEERS WEBSITE FOR LEGAL PACK AND VIEWING INFO The property has 7 apartments
- It is a conversion which had full planning permission and Build Regs certs
- A fantastic investment opportunity to buy this 3 storey Detached building with incredible coastal views from the front of the property and the rear enjoying views of the surrounding mountains
- There is land adjacent to the lower level parking area that is considered suitable for an additional bungalow (subject to planning) The vendors did submit a planning application for an additional bungalow in 2022 but did not pursue the process in order to complete the apartment renovations All the apartments are fully let and Rental income is currently £5600 PCM ie £67,200 P/A
- FINANCIAL BREAKDOWN Buildings insurance is £1,300 P/A Cleaning of common parts is £360 P/A Fire alarm and Sprinkler system service costs £400 P/A Maintenance of Garden and Car park £600 P/A Landlords common parts electricity is circa £400 P/A WE ARE ADVISED ALL TENANCY COMPLIANCE DOCUMENTS AND CERTIFICATES ARE IN PLACE AND WILL BE PROVIDED IN THE LEGAL PACK Legal Pack A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction
- Auction Information To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa
- The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated)
- Pre Auction Offers Are Considered The seller of this property may consider a pre-auction offer prior to the auction date
- All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit
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Description
The property is a 3-storey detached building with 7 apartments, including 4 two-bedroom and 3 one-bedroom units. It is located conveniently near the town center, with coastal views from the front and mountain views from the rear. The property has an allocated car parking space for each apartment, plus visitor parking and external storage spaces.
The building has been converted with full planning permission and building regulations certification, completed in 2022. The property has an internal sprinkler system and fire alarm with a contracted maintenance arrangement, and all apartments are fully let with rental income of £5,600 per month, generating £67,200 per year. There is also a large car park and adjacent land considered suitable for an additional bungalow (subject to planning), and the property's appliances and services are up to date.