This property presents a unique opportunity for investors and those interested in renovation projects, situated in the central Torre area of Torquay. Currently licensed as an eight-person House in Multiple Occupation (HMO), the property is presently accommodating five tenants, which yields an annual income of approximately £17,820. However, there are two additional ground floor rooms that are in need of refurbishment, offering significant potential for increased rental income once improvements are made.
The location is notable for its proximity to essential amenities including the Torquay police station, local retail outlets, Torbay Hospital, as well as easy access to public transport via Torre train station and nearby bus routes. This central positioning not only enhances tenant appeal but also positions the property well within a market known for steady rental demand.
Architecturally, this period semi-detached house spans three floors and has a current licensing agreement from Torbay Council that allows for a maximum occupancy of eight individuals across five units. The previous owners occupied the ground floor and indicated that current rents may be below market value. By optimizing occupancy potential and exploring the possibility of obtaining council approval to license two separate units instead of one on the ground floor, there is a projected increase in revenue potential to about £27,360 per annum.
The accommodation layout includes two rooms with a conservatory on the ground floor—ideal candidates for renovation—which leads to a communal kitchen with access to an outdoor patio area housing laundry facilities. The first floor hosts several rented rooms with established monthly agreements ranging from £320 to £440. On the second floor, additional rooms continue to offer rental opportunities.
As part of due diligence, interested parties are encouraged to assess both current and projected rental income based on their specific investment strategies. Each tenancy is structured under Assured Shorthold Tenancy Agreements with all existing tenants currently employed.
This property not only offers immediate income through existing tenancies but also holds considerable long-term investment potential through renovations and maximizing occupancy options in a desirable location.
