A substantial mid-terraced licenced HMO residential property close to Torquay town centre, harbour and seafront. The premises are well presented and have been in the current ownership over 10 years and are now being sold due to our clients’ consolidation of their property portfolio. Room 1 has an en-suite shower and wash hand basin and all other rooms except room 4 have shower cubicles and wash hand basins.
Planning and Licencing
The premises were granted a Certificate of Lawful Use on 28 May 1998. The premises hold a current licence from Torbay Council commencing 28 June 2019 for 5 years for 6 persons over 6 rooms.
The premises are fully let and currently produces £490 per week, £25,480 per annum gross. The vendor believes the rentals to be modest for this type of accommodation. The vendor also only lets to working persons. We are awaiting details of running costs but understand that a guide of 15% of turnover is realistic.
Please see attached floor plans. To the rear is a small garden/amenity area.
Close to Torquay town centre, harbour and seafront.