Superbly managed mixed commercial and residential investment property
- Credit: Archant
In a time when many of us are looking to property investment to give a better return on our money than the meagre savings rates on offer, Bettesworths are marketing for sale an excellent opportunity in the heart of Kingskerswell.
Number 3-5 Fore Street, Kingskerswell, provides a substantial income of £30,200 per annum (with scope for rental growth) and is offered for sale at £375,000. A fantastic yield of eight per cent.
The property presents an attractive opportunity to acquire a large and diverse investment in a popular location – being on core part of Fore Street which hosts a mixture of independent occupiers including professional services, retail and motor trade with a Co-Operative supermarket and public car park nearby.
Converted from what was formerly the Kingskerswell Post Office, 3-5 Fore Street comprises two ground floor shops, two two-bed duplex apartments and a garage to the rear.
The sellers would like to rent the garage after the sale, providing immediate additional income.
The investment is immaculately presented, has been recently externally redecorated and has generally been very well managed by the current owner.
The two shops are occupied by an independent financial advisor for ten years and a barber for six years, both on formal commercial leases.
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- 2 Aldi, KFC and Costa Coffee plan approved for 'Gateway to Torquay'
- 3 Turning our season around
- 4 Underdog mindset for the Gulls
- 5 Ticket price offer for Torquay United's FA Cup tie
- 6 £1million grants to give Bay new housing boost
- 7 Paignton pub The Isaac Merritt to go up for auction
- 8 Blooming marvellous Torbay winners
- 9 Norrms McNamara: The loneliness of dementia
- 10 Rotary Round-up: Santa will be coming to town
Both of the two-bedroom apartments have been refurbished within the last two years and are let on assured shorthold tenancies.
Both comprise a large lounge with countryside views and large, fully fitted kitchen, second bedroom, shower room and toilet on the lower floor, with the master bedroom on the upper floor.
Flat number two also benefits from a large external patio space.
The apartments are carpeted throughout with high-quality carpet except bathrooms and kitchens, which have industrial grade vinyl flooring.
All four elements of the property have independent electric, gas and water supplies and meters.
Bettesworths recommend this tidy and easily managed, high-yielding investment.
Interested parties should contact Paul Bettesworth on 01803 212021 for further information and viewing.