Property Portfolio in Taunton

Taunton

£3,995,000 Freehold

A unique private residential portfolio with 54 let dwellings for sale which are administered successfully through an onsite office. This highly profitable investment comprising of 6 properties is situated in a central location within the sought-after town of Taunton, Somerset. Taunton is a rapidly growing area of the UK with rental and regeneration not keeping up with demand of late. This portfolio has been nurtured and finetuned with its own rental website portal and main road presence attracting tenants, which is highly cost effective and prevents any void periods. A rolling programme of upgrade / refurbishment takes place on a regular basis to ensure the properties are presented to a high standard and a development opportunity is also ex

LOCATION

This investment is across six houses with five situated on Park Street and one property on Holway Green Taunton, Somerset. They are all centrally situated and are attractive to workers because of their location, quality and convenience and walking distance to town, there is also ample parking available.  All local amenities, main arterial road links, bus and main-line rail stations are nearby. The town has a population of approx. 70,000 and is situated between Bristol and Exeter off the M5 motorway and there are two International airports a short drive away. The town of Taunton benefits from a wonderfully vibrant town centre with several under-cover shopping parades attracting all year-round trade even during the winter months. The town has ample affordable parking and is serviced by an integrated transport system.

 

BUSINESS

The investment is administered by an office on the ground floor of one of the buildings and operates successfully with tenants able to visit during daytime office hours. This has proved a resounding success, as having a roadside advertising presence all year round has meant that expensive agency fees for tenant-find or management are not required. The sale comes with a full hand over to ensure continued success and a computer software system to manage the day to day operation. Over the years this has provided our clients with an enviable lifestyle / income security and is only now being placed onto the open market due to retirement abroad. Accounts will be made available to a serious interested buyer.

 

INCOME

The income from all letting units without void periods is approx. £330,000 / £340,000 per annum.

 

PROPERTY PORTFOLIO COMPRISES

No 19 Park Street, Taunton, Somerset

This building is on four levels (lower ground, ground, 1st floor, 2nd floor) and contains 8 letting units. On the lower ground floor there is access to the communal laundrette.

On the lower ground floor of this building one of the units is the administration office and the lower ground floor is where the laundrette is situated.

 

No 21 Park Street, Taunton, Somerset

This building contains five levels (lower ground, ground, 1st floor, 2nd floor, attic) and contains 8 letting units. On the ground floor of this building one of the units is the administration office together with the lower ground floor where the laundrette is situated.

 

No 22 Park Street, Taunton, Somerset

This building contains five levels (lower ground, ground, 1st floor, 2nd floor, attic) and contains 9 letting units. On the lower ground floor there is access to the communal laundrette.

 

No 23 Park Street, Taunton, Somerset

This building contains five levels (lower ground, ground, 1st floor, 2nd floor, attic) and contains 9 letting units. On the lower ground floor there is access to the communal laundrette and at the rear is a large store with a pitched roof, Velux windows which would ideally be converted to a 2-bedroom dwelling, subject to the normal permissions.

 

No 24 Park Street, Taunton, Somerset

This building contains five levels (lower ground, ground, 1st floor, 2nd floor, attic) and contains 10 letting units. On the lower ground floor there is access to the communal laundrette.

 

Holway House, Holway Green, Taunton, Somerset

This building contains four levels (lower ground, ground, 1st floor, 2nd floor) and contains 10 letting units. This location is slightly more rural than the other five but a more tranquil location. There is a lapsed planning permission for 2 x 4bed house at the rear of the property and a very large rear conservatory. The garden and parking to the rear of these premises are substantial.

 

OUTSIDE

All the properties on both Park street and at Howay Green have parking spaces to the rear together with a purpose-built secure storage building for bicycles which benefits from CCTV.

 

CERTIFICATION

The portfolio will be sold with gas, electrical and fire & safety certification

 

TENNANCY AGRREMENTS

All tenants are on AST agreements, which will be made available for inspection to a serious interest buyer.

 

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 exchange of contracts. 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 available. No testing of these services has been undertaken by the agents, Ware Commercial.

 

RATEABLE VALUE

Please make enquiries on the local valuation website (VOA) at www.voa.gov.uk

 

TENURE

All the properties are freehold

 

VIEWINGS

All viewings are to be conducted strictly by appointment via the agents Ware Commercial

Contact:

Tel.: Exeter 01392 462266  Torquay 01803 328880,

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.