Property photos
Offers over
£1,800,000
(£287.36/sq. ft)
Block of flats for sale
The Riviera, Paignton TQ46,264 sq. ft
Local area information
Property location
Nearby amenities
- Curledge Street Academy 0.2 miles
- Paignton 0.3 miles
- Hayes School 0.5 miles
- Torquay 2.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Paignton to find out more about the local area.
Features and description
An opportunity to acquire a newly refurbished residential investment property providing specialist supported accommodation.
Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.
The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.
Comprises 6,264 sq ft gia.
Let on a new 20-year Fri lease to Inclusion Homes cic with annual cpi linked increases.
Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.
Current passing rent £131,560 per annum.
Freehold.
Proposal
Offers are sought in excess of £1,800,000 (One Million Eight Hundred Thousand Pounds) subject to contract.
A purchase as the asking price would reflect a Net Initial Yield of 6.88% assuming standard purchasers costs of 6.22%. This equates to a very low Capital Value of £287 per sq ft.
Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.
The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.
Comprises 6,264 sq ft gia.
Let on a new 20-year Fri lease to Inclusion Homes cic with annual cpi linked increases.
Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.
Current passing rent £131,560 per annum.
Freehold.
Proposal
Offers are sought in excess of £1,800,000 (One Million Eight Hundred Thousand Pounds) subject to contract.
A purchase as the asking price would reflect a Net Initial Yield of 6.88% assuming standard purchasers costs of 6.22%. This equates to a very low Capital Value of £287 per sq ft.
Floor plans and tours
Floor plans (3)
3 floor plans available
View the floor plans to understand the space and layout of this property.
More information
Listed by
Estate Office
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