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£140,000
Old Mill Road, Torquay, TQ2
- 1 bed
£140,000
- 1 bed
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Estimate monthly mortgage payment:
£639 per month
Minimum deposit amount:To get a mortgage for a property you will typically need a minimum of 5% of the property value as a deposit. Our broker will be happy to talk through your options and everything else you need to secure a mortgage
To get a mortgage for a property you will typically need a minimum of 5% of the property value as a deposit. Our broker will be happy to talk through your options and everything else you need to secure a mortgage
£7,000
Property listed by:
Daniel Hobbin
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A promising investment opportunity awaits with this property, featuring a generously proportioned commercial unit situated at the forefront of the building, complemented by a potential separate residential apartment towards the rear, subject to obtaining appropriate consents and planning permissions. Offered without an onward chain, this property has seen initial refurbishment works completed. Only second fixings are needed to enable customization tailored to the prospective owner's preferences.
Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.
Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.
Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.
Tenure: Freehold
The current owner has informed us that the property is titled freehold.
Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.
Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.
Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.
Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.
Tenure: Freehold
The current owner has informed us that the property is titled freehold.
Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.
Your estimated purchase costs
Find out how much it will cost to purchase this property.
Stamp Duty tax
These figures are estimates and are provided for guidance only
Stamp Duty Land Tax (SDLT) is a tax you might have to pay if you purchase a property or land. SDLT applies to properties above a certain price threshold. The amount you'll have to pay depends on the property's value and if you already own a property, or have done so in the past. If you are a first-time buyer, or you are purchasing multiple dwellings, you may be eligible for a discount (tax relief).
£0
Mortgage and legal costs:
£999
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- Mortgage advice and application
- Conveyancing fee
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Property details
£140,000
1 bed flat for sale
Old Mill Road, Torquay, TQ2
A promising investment opportunity awaits with this property, featuring a generously proportioned commercial unit situated at the forefront of the building, complemented by a potential separate residential apartment towards the rear, subject to obtaining appropriate consents and planning permissions. Offered without an onward chain, this property has seen initial refurbishment works completed. Only second fixings are needed to enable customization tailored to the prospective owner's preferences.
Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.
Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.
Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.
Tenure: Freehold
The current owner has informed us that the property is titled freehold.
Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.
Notably, the rear portion of the residential apartment offers outdoor space, adjoining a private lane and Sherwell Park. If the necessary permissions and consents are obtained, this space may be used as an off-road parking area. In addition to its gas supply, this property offers an attractive investment opportunity for astute landlords.
Projected rental yields for the premises are promising. The commercial unit is anticipated to fetch £650 per calendar month, while the residential apartment can command £700 per calendar month. This is based on the floor plan provided.
Ideally situated within the bustling parade of old mill shops in Chelston, the property benefits from a prime location on Old Mill Road. This is characterized by substantial foot traffic. Surrounding the vicinity is a highly populated residential area, coupled with its status as a tourist hotspot. Further enhancing its appeal is its proximity to Cockington primary school, Torquay seafront, and the convenience of the nearby train station.
Tenure: Freehold
The current owner has informed us that the property is titled freehold.
Rateable value:
£4,050
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill. Please contact the local authority as you may be entitled to 100% small business rates relief.