5 bed property for sale

Arthurs Court, Winner Street, Paignton TQ3

Description

Freehold investment opportunity of three self-contained properties which are all currently let with a current annual rental of £25,800.

An excellent opportunity to acquire Arthur's Court, a freehold collection of three self-contained residential properties, conveniently tucked away just off Winner Street in the heart of Paignton.

Offering a combination of two two-bedroom maisonettes and a one-bedroom ground floor apartment, the property provides an attractive investment opportunity for both established landlords and those looking to acquire a ready-made buy-to-let portfolio in a convenient town centre location.

All three properties are currently let to long term tenants producing a combined rental income of £2,150 per calendar month (£25,800 per annum), providing an immediate income stream from completion, subject to the existing tenancies.

The development is approached from Winner Street through a communal gated entrance, opening into a private central courtyard/patio area which provides access to all three properties. The courtyard offers a useful communal outside area with space for seating, plant pots and hanging washing, adding a practical outdoor amenity to the development.

Tenure: Freehold

Flat 1

Flat 1 is a two bedroom maisonette, arranged over three floors and provides well-proportioned two-bedroom accommodation.

The ground floor comprises an entrance hall, separate dining room, kitchen, downstairs WC and lounge.

The first floor provides a landing with useful storage cupboard and a double bedroom, whilst the second floor provides a further double bedroom and bathroom.

The property is currently let at £725 pcm.

Flat 2

Flat 2 is two bedroom maisonette, arranged over three floors and provides two double bedrooms.

The ground floor comprises the entrance with stairs rising to the first floor, where there is a lounge together with a kitchen/diner.

The second floor provides two double bedrooms and a bathroom.

The property is currently let at £725 pcm.

Flat 3

Flat 3 is a one bedroom, ground floor flat, conveniently arranged ground floor apartment comprising an entrance hall with useful storage cupboards, lounge, small kitchen, double bedroom and shower room.

The property is currently let at £700 pcm.

Investment Opportunity

Arthur's Court offers a particularly appealing proposition for an investor looking to acquire established rental properties within a single freehold ownership.

With all units currently occupied, the property provides an existing combined rental income of £25,800 per annum.

The properties are well maintained and in good condition, whilst also offering scope for improvement and modernisation. This provides a purchaser with the opportunity to consider future refurbishment and enhancement, potentially improving both the rental appeal and longer-term capital value of the individual properties.

The configuration of the development also makes it an interesting proposition for a range of buyers, including existing landlords seeking to expand their portfolio, first-time investors, or purchasers looking for a multi-unit freehold investment with immediate rental income.

Location

Situated just off Winner Street, Arthur's Court occupies a convenient position within Paignton. The development is tucked away from the main street behind its gated communal entrance, whilst remaining within easy and relatively level walking distance of Paignton town centre, Palace Avenue and the range of shops, cafés, restaurants and other amenities available in the town.

The combination of a central location, three separate residential units and established rental income makes Arthur's Court an appealing proposition for investors seeking a substantial freehold residential investment in a popular South Devon location.

An early internal inspection is recommended to appreciate the configuration, potential and investment opportunity offered by this unusual freehold property.

Aml Checks

By law, we are required to conduct anti-money laundering checks on all potential buyers and sellers, and we take this responsibility very seriously. In line with hmrc guidelines, our trusted partner, Coadjute, will securely manage these checks on our behalf. Once an offer is accepted (subject to contract), Coadjute will send a secure link for you to complete the biometric checks electronically. A non-refundable fee of £45 + VAT per person will apply for these checks, and Coadjute will handle the payment for this service. These anti-money laundering checks must be completed before we can send the memorandum of sale to the solicitors to confirm the sale. Please contact the office if you have any questions in relation to this

Please Note

Viewings by appointment only.

Local, Independent Lettings & Sales Agent in Torbay for over 25 years with a low fee of just 1.2% inc VAT!

For a free, no obligation valuation call today!

Disclaimer: These particulars have been prepared with care and every endeavour has been made to describe the property fairly and accurately although this cannot be guaranteed. They do not constitute part or all of an offer or contract. The measurements are supplied for guidance purposes only and prospective purchasers are advised to double check them before incurring any expense which is reliant upon their accuracy. We have not tested any apparatus, equipment, fixtures, fittings or services and purchasers must satisfy themselves as to their working condition. Under the Money Laundering Regulations purchasers will at a later stage be asked to provide identification documents. In order to make sure there is no delay in agreeing a sale, we would ask for co-operation.