8 Bedroom Investment Property For Sale, Teignmouth Road, Torquay, TQ1

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8 Bedroom Investment Property For Sale, Teignmouth Road, Torquay, TQ1

INVESTMENT OPPORTUNITY.  Set in a convenient location close to St Marychurch, this PERIOD RESIDENCE is arranged as FIVE SELF CONTAINED FLATS with extensive car park providing parking for all units and additional space. Owned by our clients circa 22 years and currently fully let with conservative rental levels to established tenants, generating circa £30,160 gross per annum with several tenants being in occupation approximately 12 years. The property presents an established investment as an ongoing concern, or owner occupier to live in part whilst generating some rental income.  Alternatively, there is potential to revert or redesign the building to meet an individual buyer’s requirements. 

The property stands on the periphery of St Marychurch with vibrant pedestrianised shopping precinct, medical centres, dentist, Churches, and selection of schools nearby. Torquay Golf Club is within a mile distance, with picturesque South West Coast Path and beaches equally accessible. offers a lifestyle as much as a character property.

LANDLORDS INSIGHT “We purchased the investment back in 2001 knowing we had a bit of a project to get it running the way we wanted, and in the early years we had to make quite a few changes to ensure we had respectful tenants. Three of our tenants have now been with us for twelve years, and the most recent is a returning tenant who chose to come back, so we hope this gives a new owner the comfort that the block is harmonious.

Now we are retired, the flats have done their intended longer term investment for us, and it is time to relinquish the lettings and enjoy the cash we have invested.”

THE FLATS The development is arranged over three levels.
FLAT 1 – Positioned at entrance level from Teignmouth Road, and one level up from the parking being a 2 BEDROOM design.
FLAT 2 – Positioned at entrance level from Teignmouth Road, and one level up from the parking being a 1 BEDROOM design.
FLAT 3 – Positioned at first floor level from Teignmouth Road, and two levels up from the parking being a 2 BEDROOM design.
FLAT 4 – Positioned at first floor level from Teignmouth Road, and two levels up from the parking being a 1 BEDROOM design.
FLAT 5 – The only flat positioned at parking level, being a 1 BEDROOM design with private patio area.

OUTSIDE A large private car park to the rear provides ample space for each of the five flats to have one car space. The car park is accessed via a vehicular lane between Teignmouth Road and Coombe Lane.

ADDITIONAL INFORMATION GENERAL – We understand from our client that all flats are on standard assured shorthold tenancy agreements, with three of the tenants have been in occupation circa 12 years, and the most recent tenant returning to the development.

UTILITIES & BILLS: Tenants are responsible for their own utility bills (electric, gas and water) and council tax with all flats being band ‘A’ (Torbay Council). There is a separate landlord electric supply for the communal areas. All flats have gas central heating.

OUR AREA Torquay is nestled on the warm South Devon coast being one of three towns along with Paignton and Brixham which form the natural east facing harbour of Torbay, sheltered from the English Channel. Torbay’s wide selection of stunning beaches, picturesque coastline, mild climate and recreational facilities reinforce why it has rightfully earned the renowned nickname of the English Riviera.

TORQUAY IS WELL CONNECTED By Train: Torquay Train Station has some direct lines to London Paddington and Birmingham and is just one stop from the main line Newton Abbot.
By Air: Exeter Airport provides both UK and international flights.
By Sea: Torquay Marina provides a safe haven for boats in all weathers, sheltered from the prevailing south-westerly winds. Regional Cities of Exeter & Plymouth approximately 22 miles and 32 miles respectively. Magnificent Dartmoor National park approximately 12 miles.

DIRECTIONS SAT NAV: TQ1 4RW. WHAT3WORD: glare.crib.direct (front of property), unable.toast.rocky (takes you to parking at the rear). From our office in St marychurch turn left at the traffic lights onto Fore Street, continuing through the next set of traffic lights onto St marychurch Road. At the roundabout continue straight ahead remaining on St marychurch Road (keeping Torquay golf course on your right). At the next roundabout turn left onto Teignmouth Road. Progress through the traffic lights and the front of the property is on your right hand side. To access the parking, continue down the hill and turn right into Coombe Lane, passing Winstone Avenue. Before the road narrows, turn right (opposite 82 Coombe Lane) and right again into the service lane running behind Teignmouth Road and the parking will be found on your left.