The property comprises a substantial Victorian terraced property, located in a central position close to Paignton Town Centre and other amenities.
The property has recently undergone extensive refurbishments and alterations to create an 8 room HMO, with planning permission (Reference P/2018/0865).
The property has been let as a whole on a Letting Agreement dated the 15th March 2019 to CSM Independence Ltd, for a term of 4 years, until the 1st April 2023 at a rent of £48,000 per annum. The Landlord holds a rent deposit of £2,500. This contains an option for the tenant to break the agreement on the second anniversary and annually thereafter.
The tenant is responsible to keep the interior of the property in clean, tidy and the same or better condition at the start of the tenancy (expect for fair wear and tear) and to keep the fixtures, fillings and effects in good clean condition. A copy of the Corporate Letting Agreement is available from the Agents.
The property offers a high yielding investment opportunity for further details contact the Agents.