Paignton, Devon

Situated on Torbay Road, lovingly referred to as ‘Paignton’s Golden Mile’ which connects Paignton town centre to the seafront, this property enjoys the best of both Paignton's busy retail centre and the more tourist focussed area of town. Walking distance to Paignton’s Sea Front, Town Centre and rail & coach station. This area is a highly sought after residential and commercial location in Paignton.   



Queens Park Road is located to the rear of Torbay Road and is a quiet back lane with on street parking and a fabulous outlook over Paignton’s Bowls, Rugby and Cricket clubs.   



Forming part of a stunning period, Grade II listed terrace. The exterior of the terrace is beautifully presented, and construction is dated from the 1890-1900’s. The property itself consists of 3 self-contained, 2-bedroom flats on the upper floors and a commercial unit on the ground floor.   



The commercial unit is currently let to a pasty shop franchise, at a rent of £11,000 per annum until 31st December 2028.



The residential accommodation is accessed via an external staircase at the rear of the property. The three spacious 2-bedroom flats are arranged over first, second and third floor levels, with high ceilings and views over the Paignton’s Bowls, Rugby and Cricket clubs towards Roundham. Two of the three flats also benefit from balcony areas.  The flats are let on ASTs, generating a gross rental return of £20,160 per annum.   



To the rear of the property is off road parking for 4 vehicles. The landlord currently rents out one of these spots to a private individual at circa £44 per calendar month. 



The current set up lends itself perfectly to either retaining under one freehold as a mixed-use investment or, to split the units on separate titles to realise a potential capital uplift.