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Description

INVESTMENT OPPORTUNITY - Grade II Listed property arranged as 6 self-contained apartments, located between the Harbourside and Wellswood

Tenure: Freehold

Investment opportunity - Grade II Listed Property arranged as 6 self contained apartments, located between the Harbourside and Wellswood.

The property is in a row of 9 four storey Grade II listed terraced houses in a convenient location between the harbourside area of Torquay and village shops and cafe scene at Wellswood, with other local shops at the foot of the hill.  2 Lisburn Crescent has been converted into 6 apartments, all except flat 6 have gas fired central heating. Each flat pays council tax and has coin meters for electric and gas useage, although Flat 4 has it's own gas meter.  The landlord pays the water bill and buildings insurance.  There is an entry phone system linked to each flat as well as a fire detection system in place and extinguishers in each flat.  

The building produces an annual income of approximately £38,880 per annum.

Entrance hall
With cupboards housing meters, fire detection control box. Stairs to other flats and:
 
Flat 1
£560 pcm.
Big Lounge 15'3" x 15'10" into alcoves flanking original fireplace. 2 windows to the front.
Bedroom 13'10" x 12'2". Original fireplace, window to rear.
Kitchen 11'0" x 6'0". Wall and floor units, gas cooker. One and a half bowl sink unit, gas boiler supplying central heating and hot water. Doors to shared rear courtyard and
Shower room/ WC 7'1" x 6'0". Corner shower cubicle, close couple W.C., pedestal wash basin, radiator, fan/heater, extractor fan, small window.
Courtyard 11'7" x 8'0" shared with Flat 2.

Flat 2
£125 per week.
Hall Radiator, 2 store/meter cupboards.
Kitchen 13'0" x 8'0". Wall and floor units, gas cooker, one and a half bowl sink unit, radiator.
Inner Hall with door to courtyard, shared with Flat 1.
Shower Room/WC 7'1" x 4'8". Shower cubicle, close couple W.C., pedestal wash basin, window, radiator under.
Lounge 12'7" x 16'0". Beamed ceiling, feature brick fireplace, door to rear access path.
Study/Store 7'4" x 10'6" into alcove. Radiator.
Bedroom 9'0" x 8'10" plus 1'6" deep alcove. Beamed ceiling, radiator, window to rear.
Stairs to Half Landing
Radiator, window to rear.

Flat 3
£120 per week.
Hall with radiator, deep store recess with a built-in bunk bed.
Bathroom 8'6" x 4'11". Bath with shower fitting, pedestal wash basin, close couple W.C., radiator, window. 6 steps up to:
Lounge/Diner 16'4" x 13'8" plus alcove. Beamed ceiling, 2 windows to rear and overlooking courtyard, corner fireplace. Doors off to
Kitchen 7'9" x 7'0". Beamed ceiling, window to rear, wall and floor units, gas cooker, gas boiler supplying central heating and hot water.
Bedroom 9'0" x 9'0". Beamed ceiling, radiator, window to rear.
Stairs to Landing with radiator, 2 doors (one's not in use) to:

Flat 4
£560 pcm.
Kitchen 15'5" x 7'2". Window to front with views to bay, wall and floor units, gas cooker, radiator, space for table and chairs.
Lounge 15'6" x 14'0" into alcoves. High ceiling, marble fireplace, 2 windows to the front with views to the bay, radiator, picture rail.
Inner Hall with door to Landing. Off are:
Bedroom 12'1" x 10'6" narrowing to 7'9". Window to rear.
Shower Room/WC 6'10" x 6'0". Corner shower cubicle, close couple W.C., pedestal wash basin, radiator, gas boiler in cupboard.
Stairs to 2nd Floor with radiators on landings and window to rear.

Flat 5
£560 pcm.
Hall off are:
Cloakroom Close couple W.C., pedestal wash basin.
Kitchen 12'5" x 7'3". Window to front with views to the bay, wall and floor units, gas cooker, space for table and chairs, radiator, door to lounge.
Lounge 15'10" x 14'3" into alcoves. 2 windows to the front with secondary double glazing and views to the bay, 2 radiators.
Bedroom 12'3" x 10'0" plus alcove with door to landing. Window to rear, radiator.
Shower Room 3'9" x 5'6" plus shower cubicle, pedestal wash basin, radiator.
Stairs to Top Floor with gas boiler on half landing for Flat 5, window to rear, gas boiler providing hot water to Flat 6.

Flat 6
£520 pcm.
Hall entry phone.
Shower Room/ WC  6'9" x 4'5". Corner shower cubicle, close couple W.C., pedestal wash basin.
Kitchen 8'5" x 7'5". Window to rear with views to the bay, floor units, gas cooker.
Lounge/ Diner 14'0" x 11'1". Part sloped ceiling, window to front with view to the bay, electric panel heater.
Bedroom 14'4" x 10'4". Part sloped ceiling, window to rear, electric panel heater, built in wardrobe.

Outside
To the front of the property, there is a lawned area.

General
EPC: Exempt as the property is Grade II listed, however there are EPC's available for Flats 1 and 4.
Trade: Full details of the Trading Accounts will be made available to Bona Fide applicants.
An inventory of contents to be included in the sale will be prepared before exchange of contracts.

Income:
Flat 1 £560 pcm
Flat 2 £125 per week
Flat 3 £120 per week
Flat 6 £520 pcm
Flat 4 £560 pcm
Flat 5 £560 pcm
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Total= £39,140 per annum
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Council Tax Bands
Flat 1 'A'
Flat 2 'A'
Flat 3 'B'
Flat 4 'B'
Flat 5 'B'
Flat 6 'B'

Consumer Protection from Unfair Trading Regulations 2008 The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property. Please inform us of any particular requirements that are important to you prior to viewing.