10 bedroom block of apartments

SIX FLAT INVESTMENT PROPERTY

This remarkable investment opportunity presents a six-flat residential property, with current rents reserved of £38,976 per annum, being located in the charming coastal town of Teignmouth, known for its picturesque views and vibrant community.

Situated in a sought-after area, this three-storey detached Victorian villa offers an ideal investment for individuals seeking a steady rental income or for the more professional of landlords looking to expand their property portfolio.

Interest is drawn to the fact that all 6 flats are held on their own land registry title so this highlights the graphic potential for the formal break-up and sale of the individual units in the future.

TENURE
Freehold subject to tenancies.

TENANCIES
Flat 1: Let on Assured Short-hold Tenancy with current rents reserved of £455per calendar month.
Flat 2: Let on Assured Short-hold Tenancy with current rents reserved of £577per calendar month.
Flat 3: Let on Assured Short-hold Tenancy with current rents reserved of £603per calendar month.
Flat 4: Let on Assured Short-hold Tenancy with current rents reserved of £603per calendar month.
Flat 5: Let on Assured Short-hold Tenancy with current rents reserved of £650per calendar month.
Flat 6: Let on an Assured (therefore protected) Tenancy with current rents reserved of £360per calendar month.
TOTAL RENTS RESERVED CURRENTLY: £38,976

EPC
Ratings:
Flat 1: Commissioned.
Flat 2: Commissioned.
Flat 3: Commissioned.
Flat 4: Commissioned.
Flat 5: Commissioned.
Flat 6: Commissioned.

Lower ground floor: Access via Flat 1 and briefly comprises two unused rooms with hallway. Some applicants may envisage separate or additional accommodation subject to all necessary consents being obtainable..

Ground floor: Reception hallway leading to flats: Flat 1: Kitchen, living room, two bedrooms, bathroom/WC. Flat 6: Studio style comprising kitchen/living/bedroom, shower room/WC. Flat 2: Kitchen, bathroom, living room, two bedrooms.

First floor: Landing with access to Flat 3: Kitchen/breakfast room, living room, large double bedroom, bathroom/WC. Flat 4: Kitchen, living room, two bedrooms and bathroom/WC.

Second floor: Flat 5: Hallway with storage area and stairs leading to: Living room, dining area, kitchen, three bedrooms, bathroom/WC.

Outside: Gardens to the front and rear and have been allocated to the flats as per the lease plans in the legal pack and documents section. Parking area providing off street for 5 spaces and separate lower driveway area.

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.

Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. It is the purchaser’s responsibility to make all necessary legal and finance enquiries prior to the auction.

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve price (a figure below which the Auctioneer cannot sell the Lot during the Auction). This reserve figure cannot be higher than 10% above a single figure guide.

Please check our website regularly at or contact us on[use Contact Agent Button] for up to date information.

Following the fall of the hammer contracts are exchanged and there is no going back!

†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.

Pricing information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and 247 Property Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.

Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions.All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.

These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.