A Profitable, Hands Off Investment For Sale
Paignton, Devon
A fabulous investment opportunity where you are completely hands-off for the next 22 years! With automatic, upwards-only rent increases, a blue-chip tenant, and additional security, it doesn't get much better than this. This bespoke complex of 11 self-contained apartments has been newly developed and is being leased to a specialist mental health provider on a fully repairing and insuring binding lease. Move away from a residential portfolio and eliminate all hassle and stress with this simple but profitable investment, starting with an income, just over £130,000 per annum. Early viewings are highly recommended.
This investment is ideally located close to the Esplanade and within a short walking distance of local amenities, including the seafront, harbour, and town centre. The property is situated in a sought-after part of Paignton, near Goodrington Sands, with its beautiful flat sandy beaches. Paignton is part of ‘The English Riviera’, which consists of three main towns: Paignton, Brixham, and Torquay. The property is ideally located within a short drive of Brixham, Dartmouth, and Torquay, with excellent public transport links if you prefer not to drive. Nearby are the main train and bus stations, with easy access to motorways linking all parts of the UK.
ACCOMMODATION
The property has been developed from an existing care home establishment to create 11 self-contained supported living units (Use Class C3b).
USE OF PROPERTY
This blue-chip tenant is a specialist support provider, offering a staffed service at this property for people with Autism, Learning Disabilities, Mental Health needs, and Acquired Brain Injuries.
PLANNING AUTHORITY
Torbay Council
Town Hall
Castle Circus
Torquay
TQ1 3DR
Email: [email protected]
Tel: 01803 207801
PLANNING REF NO
P/2024/0042, P/2023/0673, P/2023/0028
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
Please make enquiries on the local valuation website (VOA) at www.voa.gov.uk
TENURE
Freehold
VIEWINGS.
All viewings and enquiries are to be made through the agents Ware Commercial.
TEL. 01803 328880 Email. [email protected] www.warecommercial.com
Misrepresentation Act
Misrepresentation Act 1967. The Particulars are not considered a formal offer, they are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract nor be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, no liability can be accepted for their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars.
A Profitable, Hands Off Investment For Sale
Paignton
£1,995,000 Freehold7-9 The Riviera, Paignton, Devon, TQ4 5EX
A fabulous investment opportunity where you are completely hands-off for the next 22 years! With automatic, upwards-only rent increases, a blue-chip tenant, and additional security, it doesn't get much better than this. This bespoke complex of 11 self-contained apartments has been newly developed and is being leased to a specialist mental health provider on a fully repairing and insuring binding lease. Move away from a residential portfolio and eliminate all hassle and stress with this simple but profitable investment, starting with an income, just over £130,000 per annum. Early viewings are highly recommended.
This investment is ideally located close to the Esplanade and within a short walking distance of local amenities, including the seafront, harbour, and town centre. The property is situated in a sought-after part of Paignton, near Goodrington Sands, with its beautiful flat sandy beaches. Paignton is part of ‘The English Riviera’, which consists of three main towns: Paignton, Brixham, and Torquay. The property is ideally located within a short drive of Brixham, Dartmouth, and Torquay, with excellent public transport links if you prefer not to drive. Nearby are the main train and bus stations, with easy access to motorways linking all parts of the UK.
ACCOMMODATION
The property has been developed from an existing care home establishment to create 11 self-contained supported living units (Use Class C3b).
USE OF PROPERTY
This blue-chip tenant is a specialist support provider, offering a staffed service at this property for people with Autism, Learning Disabilities, Mental Health needs, and Acquired Brain Injuries.
PLANNING AUTHORITY
Torbay Council
Town Hall
Castle Circus
Torquay
TQ1 3DR
Email: [email protected]
Tel: 01803 207801
PLANNING REF NO
P/2024/0042, P/2023/0673, P/2023/0028
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
Please make enquiries on the local valuation website (VOA) at www.voa.gov.uk
TENURE
Freehold
VIEWINGS.
All viewings and enquiries are to be made through the agents Ware Commercial.
TEL. 01803 328880 Email. [email protected] www.warecommercial.com
Misrepresentation Act 1967: The Particulars are not considered a formal offer, they are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract nor be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, no liability can be accepted for their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars.