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CONFIDENTIAL SALE
FOR SALE
19/12/23
604084
WarrenHillFlats / Rightbiz
A centrally located residential investment is for sale, comprising 6 apartments, all let on AST agreements and successfully owner-managed. The property is situated in a terraced two-storey residential area of Torquay, Devon, only a short walk from the town centre, harbour, and beachfront. The income is constant, and occupancy is very high. The overall condition of the interior of the property needs upgrading, which would increase the overall freehold value and subsequent income. Actual trading accounts will be available after a successful formal viewing.
The property is in the heart of Torquay, Devon, ideally situated for the bus and mainline railway station. The main beach, harbour, and local restaurants are just a short walk away. Torquay is currently one of the most popular seaside holiday destinations in the UK and has excellent road links to the M5 motorway connecting all parts of the UK. Nearby, there is an international airport offering flights to European and worldwide destinations, not forgetting Dartmoor National Park, which is only a short drive away.
The investment has been successfully owner-operated for many years, with high occupancy and impressive income. Although the investment is owner-operated, this could easily be subcontracted to a local letting agent. With a gross income of over £34,000, which would increase with a refurbishment.
ACCOMMODATION COMPRISES
1, 1, Warren Hill
Ground Floor, Own entrance, living room/kitchen, bedroom & shower room.
2, 1, Warren Hill
First Floor, Own entrance, living room, separate kitchen, bedroom & shower room.
1, 2, Warren Hill
Ground Floor, living room/kitchen, bedroom & shower room.
2, 2, Warren Hill
First Floor, living room, separate kitchen, bedroom & shower room.
3, 2 Warren Hill
Second Floor, living room/kitchen, bedroom & shower room.
4, 2 Warren Hill
Second Floor, living room, separate kitchen, bedroom & shower room.
GROSS INCOME
Flat 1,1 £500 pcm
Flat 2,1 £500 pcm
Flat 1,2 £500 pcm
Flat 2,2 £450 pcm
Flat 3,2 £450 pcm
Flat 4,2 £450 pcm
FIXTURES AND FITTINGS
All trade fixtures and fittings, except for our vendor’s private inventory, will be included in this sale. A full inventory will be provided prior to the exchange of contracts. All stock will be sold at valuation on completion. No testing of these fixtures or any appliance has been undertaken by the agents, Ware Commercial.
SERVICES
Mains gas, electricity, water, broadband, and drainage are all connected. No testing of these services has been undertaken by the agents, Ware Commercial.
BUSINESS RATES / COUNCIL TAX
Please make enquiries on the local valuation website (VOA) at www.voa.gov.uk www.voa.gov.uk
TENURE
Freehold
VIEWINGS
All viewings and enquiries are to be made through the agents, Ware Commercial.
TEL. 01803 328880 or 01392 462266
mailto:[email protected]
www.warecommercial.com
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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