Mixed Use
A freehold ideal investment opportunity located along Winner Street, Paignton benefitting from an income of £37,000 per annum and comprising five apartments (plus one single room) and two commercial units over three storeys.
The property is Situated on Winner Street, Paignton. A good trading location in the heart of Paignton. Benefits from high pedestrian and vehicular passing trade along with several national and local retailers within the vicinity. Bus and rail connections are close by. Interested parties are advised to inspect the legal pack for more information.
Ground floor (301 square feet)- currently let at £165 per calendar month
First Floor one bedroom apartment (473 square feet)- assured shorthold tenancy at £500 per calendar month
First floor one bedroom apartment (354 square feet)- assured shorthold tenancy at £500 per calendar month
Front ground floor (188 square feet) - currently let at £165 per calendar month
Ground floor studio (224 square feet) - assured shorthold tenancy at £470 per calendar month
First floor single room (134 square feet) - vacant possession
First floor two bedroom flat (520 square feet) - assured shorthold tenancy at £650 per calendar month
Second floor two bedroom flat (601 square feet) - assured shorthold tenancy at £635 per calendar month
£3,085 per calendar month/£37,020 per annum with a potential for circa £43,000 - £45,000 at full market rent (based on comparable evidence)
Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
