Studio flat for sale

Attractive Period Block of 8 Flats. Arranged Over 6 Storeys with Original Period Features.

Belvic Court occupies a prime, elevated position on Orchard Gardens, a residential road in the heart of Teignmouth. The property is within the town centre, with close proximity to the seafront promenade, and train station, making it highly attractive to tenants. Teignmouth is a thriving coastal town on the South Devon coast, popular with both residents and tourists due to its beaches, local amenities, and strong transport links including direct rail services to Exeter and London Paddington.This location would particularly appeal to investors looking to attract long-term tenants, young professionals, or those exploring holiday lets subject to necessary consents. Belvic Court is an early 20th century block of eight self-contained flats arranged over six floors. The property retains many elegant features including ornate plasterwork, wide staircases, and high ceilings. The configuration includes seven one-bedroom flats and one two-bedroom flat, with access via a communal hallway and stairwell. Externally, the front elevation has recently undergone repainting and is in good condition. There is a private garden and access pathway to the rear, where a modern detached brick-built unit (housing two of the flats) is located. While the flats are generally in lettable condition, several would benefit from modernisation, presenting a strong opportunity to uplift rental values. All units have separate electric meters, with a mix of water meters and water rates.

ACCOMMODATION
The accommodation is arranged:

FLAT 1 – BASEMENT
A 1 bedroom flat. Accessed via external stairs at front of the property.

LOBBY & COMMUNAL HALLWAY
With original staircase leading up to the top floor.

FLAT 2 – GROUND FLOOR
A 1 bedroom flat with bay window at front.

FLAT 4 – GROUND FLOOR
A 1 bedroom flat, located at the rear of the property and accessed via the rear garden.

FLAT 5 – FIRST FLOOR
A 1 bedroom flat, located at the front of the property and benefitting from a bay window.

FLAT 7 – FIRST FLOOR
A 2-bedroom flat, located at the rear of the property.

FLAT 8 – SECOND FLOOR
A 1 bedroom flat, located at the front of the property.

FLAT 9 – THIRD FLOOR
A 1 bedroom flat, located at the front of the property, with sea glimpses.

FLAT 10 – FOURTH FLOOR
A 1 bedroom flat, located at the front of the property, with sea views.

TENURE
Freehold, subject to existing residential tenancy agreements. The flats are let to a mix of long-term tenants, with rents understood to be historically low, presenting potential for future uplift.

RENT SCHEDULE
The property generates a gross rental income of approximately £49,300 per annum. There is opportunity to increase this through refurbishment and reletting at market rates. FLATRENT (PCM)RENT (PA)LENGTH OF TENANCY FLAT 1 - £560 pcm - £6,720 pa - 8 Years. FLAT 2 - £498.33 pcm - £5,980 pa - 25+ Years. FLAT 4 - £500 pcm - £6,000 pa - 8 Years. FLAT 5 - £480 pcm - £5,760 pa - 25+ Years. FLAT 7 - £515 pcm - £6,180 pa - 12 Years.FLAT 8 - £515 pcm - £6,180 pa - 8 Years. FLAT 9 - £520 pcm - £6,240 pa - 25+ Years. FLAT 10 - £520 pcm - £6,240 pa - 25+ Years.

ASKING PRICE
£800,000 exclusive.

EPC RATINGS
Flats 1, 8 & 9 - E. Flats 2 & 10 - E. Flats 4, 5 & 7 - C.

COUNCIL TAX
Each flat is individually banded for Council Tax purposes and tenants are responsible for their own council tax bills.

LEGAL COSTS
Each party will be responsible for their own legal costs unless expressly agreed otherwise.

VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths

Tenure: Freehold