A high-yielding investment property in Barnstaple, Devon, is being auctioned by Clive Emson Auctioneers with a freehold guide price of £475,000 to £525,000. (WED JULY 24)
Located in the town centre at 87 Boutport Street, the property’s ground floor is currently let out for use as a bar.
Its three upper floors are used as a house of multiple occupancy (HMO) and there is a separate one-bedroom flat to the rear.
Currently fully let, the components of the property together deliver a return of £99,600 per annum.
The property is among 165 lots listed in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
Auctioneer David Henwood said: “This is a prominent double-fronted property in the centre of north Devon’s largest town.
“It is a high-yielding property which comes to auction fully let and generating a strong annual income.
“This property offers an immediate return on investment for the purchaser but there is also long-term potential to convert the upper floors into self-contained flats, subject to the necessary consents.”
The bar is let on a five-year commercial lease from September 2023. There are a total of 11 rooms in the HMO. The self-contained flat is let on an assured shorthold tenancy agreement.
It is being auctioned in arrangement with Midwinter Koval of Barnstaple.
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Flat opportunity in Plymouth, Devon
A purpose-built flat in Plymouth city centre is also in the same auction. The two-bedroom, second floor property in Belgrave Lane has a leasehold guide price of £95,000.
Auction Appraiser James Lofthouse said: “This is a spacious flat in a purpose-built block with allocated parking in an underground car park.
“It offers open plan living in a city centre location close to local facilities and amenities.”
The property is currently let on an assured shorthold tenancy agreement of £735pcm (£8,820 per annum).
It is being sold with the remainder of a 125-year lease from January 2008.
In Calstock, a three-bedroom, semi-detached house has a freehold guide of £130,000 to £140,000.
Located in a cul-de-sac, it has front and rear gardens along with off-road parking for three vehicles.
Watch the video: https://www.cliveemson.co.uk/properties/251/160/
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Flats set to appeal to investors in Devon
Four recently refurbished flats in Exmouth are set to draw interest from investors at the Clive Emson auction on 24th July.
The apartments – arranged over three floors in a property in Victoria Road – are already let to tenants at £38,700 per annum.
Senior Auction Appraiser Audrey Smith said: “This recently refurbished, spacious property is expected to appeal to investment landlords at auction.
“It comes to auction with existing tenants, giving the purchaser an immediate return on their investment.”
Three of the flats have one bedroom, while the fourth has two bedrooms.
Watch the video: https://www.cliveemson.co.uk/properties/251/29/
In Seaton, a ground-floor flat has a leasehold guide of £65,000 plus. The one-bedroom property at Highclyffe Court in Highcliffe Close is set above Seaton Hole on the Jurassic Coast.
It is being auctioned with the remainder of a 999-year lease from January 1986.
Watch the video: https://www.cliveemson.co.uk/properties/251/91/
Near Exeter, a top-floor flat in a period property in the village of Kenn has a leasehold guide of £90,000 plus.
The two-bedroom apartment at Trehill House has the remainder of a 999-year lease from 1986.
Warch the video: https://www.cliveemson.co.uk/properties/251/143/
In Exeter, a studio flat in Lansdowne, Woodwater Lane, has a leasehold guide of £70,000 plus.
With one bedroom, it is being sold with the remainder of a 999-year lease from 1981.
Watch the video: https://www.cliveemson.co.uk/properties/251/23/
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Devon Property has planning permission for dozen flats
A ‘substantial residential development’ with ‘outstanding views’ in Torquay is coming to auction with planning permission for 12 apartments.
With a freehold guide price of £780,000, it comprises three properties at 48-50 The Terrace and 5 Montpellier Road.
The property currently has a range of offices, store rooms and conference rooms over its five floors but also has listed building consent for change of use and planning permission for flats.
It is among 165 lots listed in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
Senior Auction Appraiser Audrey Smith said: “This is a substantial residential development opportunity comprising three properties.
“To the front of the development at 48-50 The Terrace are two substantial bow-shaped, south facing terraced properties arranged over five storeys which have many original period features.
“At the rear of the building is the adjoining 5 Montpellier Road, which also forms part of the development.
“The terrace is situated in an elevated position in Torquay town centre with outstanding views overlooking the harbour and to the sea.”
Plans for the development show five one-bedroom flats, six two-bedroom flats and one three-bedroom flat.
Watch the video: https://www.cliveemson.co.uk/properties/251/67/
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Mixed-use site for investment
Investment buyers are expected to show keen interest in a mixed-use property in Tiverton town centre.
The building in Bampton Street comprises two ground floor retail units and three self-contained flats above. They are all fully let at a total of £32,799 per annum.
With a freehold guide price of £250,000 plus, it is among 165 lots listed in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
Auction Appraiser Steve Appleby said: “This property is expected to be an attractive proposition for investors at auction.
“In a prominent town centre location, it is already fully let and offers an immediate return on investment.”
One of the ground floor units is used as a barber’s and nail technician, while the other is a clothes shop. Each of the flats has one bedroom.
Watch the video: https://www.cliveemson.co.uk/properties/251/60/
Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.
Bidding for the current auction, the fifth of the year, goes live on Monday July 22 and ends on Wednesday July 24.
See https://www.cliveemson.co.uk for more details.