5 bed block of apartments to buy in TR7

Tower Road, ,, Newquay, Cornwall, TR7 1LZ

Brochure

Starting Bid
£260,000

Bedrooms: x 5

Bathrooms: x 4

Receptions: x 1

Tenure: Freehold

Key Information

Council tax: Band C
EPC rating: E
Heating supply: Electric
Electricity: National Grid
Broadband: FTTC (fibre to the cabinet)
Mobile signal: Good
Parking: Off Street

Property features

Being sold via Secure Sale online bidding. Terms & Conditions apply
1 X 2 BED MASIONETTE
FOUR FLATS IN TOTAL
3 X 1 BED FLATS
PERFECT PORTFOLIO INVESTMENT
PARKING TO REAR FOR 2/3 CARS
PLANNING PERMISSION AND BUILDING REGULATIONS APPROVED

5 bed block of apartments to buy in TR7

. A FANTASTIC INVESTMENT OPPORTUNITY TO ACQUIRE A FREEHOLD BLOCK OF FOUR SELF-CONTAINED APARTMENTS IN A PRIME CENTRAL LOCATION BETWEEN FISTRAL BEACH AND NEWQUAY TOWN CENTRE. THIS PROPERTY IS IDEAL FOR BUY-TO-LET INVESTORS SEEKING A READY-MADE PORTFOLIO ADDITION.

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties

This superb block of modern apartments is ideally located between Fistral Beach and the town centre, a great place to attract tenants as the landlord has consistently done during their 12 years of ownership. Sold owing to retirement this is an ideal opportunity for buy to let investors to acquire this freehold block for four self contained flats.

A pretty looking period house (originally) converted and sold with planning permission granted and building regulations approved for the conversion. With three one bedroom flats and one two bedroom maisonette as well as off street parking to the rear. Sold as a going concern investment, fully let on an AST basis.

As you approach the front entrance there is a stone chipped courtyard garden with beautiful period tiled walkway. The communal entrance into the main building provides access to three of the apartments with the fourth accessed separately from the rear.

One the ground floor to the front there is a one bedroomed apartment which has bay windowed living room, good sized double bedroom, large kitchen, and shower room to the rear.

On the first floor to the rear there is a one bedroomed apartment which is a studio style having separate kitchen, bedroom/sitting room, and bathroom.

To the front on the first and second floor is the two bed maisonette with a wonderful size bay windowed lounge/diner, large fitted bathroom, galley style kitchen as well as two bedrooms on the second floor, the rear of which enjoying sea views.

To the rear of the building there is access to the final flat, a self contained one bedroom which benefits from its own private entrance. This has a good size kitchen as well as bedroom, living room and shower suite.

The property benefits from two/three off street tarmacked parking spaces to the rear, UPVC double glazing throughout and modern, eco style electric radiators.

The property is sold as an ongoing, fully let investment. Flat 1 currently lets at £560 pcm, Flat 2 at £550, Flat 3 at £435 pcm, and Flat 4 at £600 pcm. These rents include water which costs the landlord approximately £100 pcm but all other utilities are the responsibility of the tenants. The communal electricity for the hallways etc costs approximately £36 per quarter, paid by the landlord.

The vendor has enjoyed many years of letting to several of the tenants in situ including one of whom is a family member, as such we are of the opinion that these are well under the current achievable market rents for residential flats of this type in the Newquay area. Landlords could therefore look to improve the yield with rent increases to suit their needs and to meet current market values.

Open map Street view

Heating supply: Electric
Electricity supply: National Grid
Water supply: Direct mains water
Sewerage supply: Standard UK domestic
Air conditioning: No
Broadband: FTTC (fibre to the cabinet)
Mobile signal: Good

Construction

Construction materials: Brick and block
Roofing types: Slate tiles

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