East Street, Newton Abbot, TQ12 2JP

An attractive multi unit residential investment comprising three separately let units, currently producing a combined rental income of £24,000 per annum. The property benefits from a 999 year lease commencing in 2022 and is offered subject to the existing assured periodic tenancies.

The accommodation comprises a mix of one and two bedroom units, providing a diversified rental profile and broad appeal within the local rental market. The existing tenancies provide an established income stream for the incoming investor, with potential for future rental growth subject to market conditions, tenancy arrangements and any necessary consents.

ACCOMMODATION

55A: A self contained one bedroom unit comprising a kitchen/living room, bedroom and bathroom/WC.

55B: A self contained two bedroom unit comprising an entrance hallway, kitchen/living/dining room, two bedrooms and bathroom/WC.

53A: A self contained one bedroom unit comprising a kitchen/living/dining room, bedroom and shower room/WC.

TENANCY INFORMATION

55A: Let on an assured periodic tenancy at a current rent of £7,200 per annum.

55B: Let on an assured periodic tenancy at a current rent of £9,000 per annum.

53A: Let on an assured periodic tenancy at a current rent of £7,800 per annum.

The three units currently produce a combined rental income of £24,000 per annum, providing the incoming investor with an established rental income stream from completion, subject to the existing tenancy arrangements.

TENURE

Leasehold with a 999 year lease commencing in 2022, subject to the existing tenancies.