7 Apartments at Meadow Road, Seaton
£850,000
Guide price
Guide price
Bedrooms: 7
Fantastic investment property. Seven light and airy let apartments with parking in a quiet residential area. Yield about 5.5% gross. Freehold. Council Tax Band A. EPC C.
SITUATION
Located between the ancient harbour of Axmouth and the white cliffs of Beer, Seaton is part of the world-renowned Jurassic Coast, with a mile-long beach, picturesque streets and a range of facilities including supermarket, Post Office, doctors surgery, restaurants, inns, independent shops and the Jurassic Coast Visitor Centre. Colyton Grammar School is located just 1 mile away. The nearby historic fishing villages of Beer and Branscombe are nestled in the hills between Seaton and Sidmouth, whilst the picturesque Dorset town of Lyme Regis, with its famous Cobb, is within easy reach.
The market towns of Honiton and Axminster have an additional range of facilities, including rail services to London Waterloo and Exeter. Exeter is 22 miles to the west and offers a wide range of services with plenty of retail, leisure and cultural amenities as well as an international airport, together with M5 access.
DESCRIPTION
Converted and extended from a former residential care home about 10 years ago, this impressive building is split into 7 light and airy apartments in this lovely quiet residential area of Seaton.
All let on assured short hold tenancies the property is let to a range of tenants, many of whom have been in the property for a number of years. Current rent in the region of £44,000 pa. The current gross rent for 100% occupancy is £46440 Representing a near 5.5% gross return.
Flat 1 - Ground floor apartment in the main building
Flat 2 and 3 - First floor apartments in the main building
Flat 4 - Ground floor apartment with direct access to front and side.
Flats 5 and 6 - Ground floor apartments with direct access to front and garden to the rear.
Flat 7 - a maisonette apartment with a direct access to the side.
OUTSIDE
To the front of the property are five off-road tarmac parking spaces with access down both sides. To the rear is a near level garden with lawn and drying area. There is also ample bin storage.
SERVICES
Mains water, drainage and electric. Efficient modern electric heating.
DIRECTIONS
At Colyford of the A3052 turn south on to Harepath Road and after about a mile turn left into Court Lane and in about 250 yards right onto Meadow Road. The property will be on your left after approximately 100 yards.
RESIDENTIAL LETTINGS
If you are considering investing in a Buy To Let or letting another property and require advice on current rents, yields or general lettings information to ensure you comply, please contact a member of our lettings team on 01404 42553.
SITUATION
Located between the ancient harbour of Axmouth and the white cliffs of Beer, Seaton is part of the world-renowned Jurassic Coast, with a mile-long beach, picturesque streets and a range of facilities including supermarket, Post Office, doctors surgery, restaurants, inns, independent shops and the Jurassic Coast Visitor Centre. Colyton Grammar School is located just 1 mile away. The nearby historic fishing villages of Beer and Branscombe are nestled in the hills between Seaton and Sidmouth, whilst the picturesque Dorset town of Lyme Regis, with its famous Cobb, is within easy reach.
The market towns of Honiton and Axminster have an additional range of facilities, including rail services to London Waterloo and Exeter. Exeter is 22 miles to the west and offers a wide range of services with plenty of retail, leisure and cultural amenities as well as an international airport, together with M5 access.
DESCRIPTION
Converted and extended from a former residential care home about 10 years ago, this impressive building is split into 7 light and airy apartments in this lovely quiet residential area of Seaton.
All let on assured short hold tenancies the property is let to a range of tenants, many of whom have been in the property for a number of years. Current rent in the region of £44,000 pa. The current gross rent for 100% occupancy is £46440 Representing a near 5.5% gross return.
Flat 1 - Ground floor apartment in the main building
Flat 2 and 3 - First floor apartments in the main building
Flat 4 - Ground floor apartment with direct access to front and side.
Flats 5 and 6 - Ground floor apartments with direct access to front and garden to the rear.
Flat 7 - a maisonette apartment with a direct access to the side.
OUTSIDE
To the front of the property are five off-road tarmac parking spaces with access down both sides. To the rear is a near level garden with lawn and drying area. There is also ample bin storage.
SERVICES
Mains water, drainage and electric. Efficient modern electric heating.
DIRECTIONS
At Colyford of the A3052 turn south on to Harepath Road and after about a mile turn left into Court Lane and in about 250 yards right onto Meadow Road. The property will be on your left after approximately 100 yards.
RESIDENTIAL LETTINGS
If you are considering investing in a Buy To Let or letting another property and require advice on current rents, yields or general lettings information to ensure you comply, please contact a member of our lettings team on 01404 42553.
01404 758007
Stags - Honiton Sales
Bank House, 66 High Street, Honiton, Devon, EX14 1PS
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