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2 Den Crescent 4,932 sq ft 100% Let Office Property Teignmouth TQ14 8BG £600,000 (£121.65/sq ft) 10% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Substantial town centre Grade ll Listed property
- 2 two bedroom flats above in need of modernisation
- Currently tenanted by Doctors surgery on 3 floors
EXECUTIVE SUMMARY
Offers are sought in the region of £600,000 for the freehold of this well-located premises currently producing a rental income of £68,300 per annum, and with potential to increase the rents on the flats if improvement works are completed. The premises also have redevelopment potential once the Surgery relocates into new premises. This would offer an initial gross return of around 10.5% after purchase costs. We understand that VAT is not chargeable on the sale price.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Office / Residential
Property Size
4,932 sq ft
Costar Property Class
C
Year Built
1900
Price
£600,000
Price per sq ft
£121.65
Yield
10%
NOI
£60,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
1,233 sq ft
Plot ratio
1.74
Total Plot Size
0.07 ac
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2 Den Crescent
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