Guide price
£1,550,000
(£239.46/sq. ft)
Block of flats for saleThe Riviera, Paignton TQ4
6,264 sq. ft
About this property
An opportunity to acquire a newly refurbished residential investment property providing specialist supported accommodation.
Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.
The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.
Comprises 6,264 sq ft gia.
Let on a new 20-year Fri lease to Inclusion Homes cic with annual cpi linked increases.
Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.
Current passing rent £131,560 per annum.
Freehold.
Proposal
Offers are sought in excess of £1,550,000 (One Million Five Hundred and Fifty Thousand Pounds) subject to contract.
A purchase as the asking price would reflect a Net Initial Yield of 8% assuming standard purchasers costs. This equates to a very low Capital Value of £247 per sq ft.
Ideally located close to the Esplanade and within a short walking distance to local amenities, including the seafront, harbour, and town centre.
The building is arranged as 11 self-contained supported living units (Use Class C3), including communal areas, staff rooms and large garden areas.
Comprises 6,264 sq ft gia.
Let on a new 20-year Fri lease to Inclusion Homes cic with annual cpi linked increases.
Inclusion Homes is a dedicated support provider specialising in staffed services for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries.
Current passing rent £131,560 per annum.
Freehold.
Proposal
Offers are sought in excess of £1,550,000 (One Million Five Hundred and Fifty Thousand Pounds) subject to contract.
A purchase as the asking price would reflect a Net Initial Yield of 8% assuming standard purchasers costs. This equates to a very low Capital Value of £247 per sq ft.
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