Moorcot, Kents Road, Torquay, Devon, TQ1 2NN
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Read more Read moreA substantial Victorian Villa (approximately 4,327 sq.ft.) currently arranged as 6 apartments plus large 3 bedroom owners accommodation, part let currently producing £23,820 per annum, estimated rental value £70,020, set on a plot of 0.288 acres, development potential Moorcot is situated in one of Torquay's most desirable residential locations and offers the potential for immediate rental uplift as well as other possibilities including holiday letting or further development, subject to planning. Once fully let at current market rents, Moorcot Flats should achieve a rent of £70,020 per annum, compared with the present total of £23,820 per annum. 5 of the flats are let on Assured Shorthold Tenancies, all in Periodic Status.. The current rental schedule is as follows: • Flat 1 – 2-bedroom self-contained maisonette over two floors – let at £500.00 pcm • Flat 2 – self-contained 2-bedroom bungalow – let at £600.00 pcm • Flat 3 – 1-bedroom flat – currently vacant, previously let at £625.00 pcm • Flats 4 & 5 – two 1-bedroom flats, combined and let to a sole tenant – £535.00 pcm (combined) • Flat 6 – 1-bedroom self-contained flat – let at £350.00 pcm • Flat 7 – large 3-bedroom self contained flat – vacant, previously used as owners' accommodation
