2 Bed Flat, Planning Permission, Torquay, TQ1 3AH, £135,000

Market Street, Torquay, TQ1 3AH - 1 views - a year ago

Leasehold
Planning
ROI: 9%
~68 m²
+9 photos

ValuationFair Value

Sold Prices£62K - £355K
Sold Prices/m²£1.3K/m² - £3.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2K/m²

Value Estimate

£135,000

 

 

End Value (After Refurb)

£123,814

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Refurb Costs

£27,612

Bridging Loan Interest

£3,544

Total Cash In

£71,905

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£123,814

Mortgage (After Refinance)

£92,861

Mortgage LTV

75%

Cash Left In

£71,905

Equity

£30,954

Rent Range

£700 - £1,435

Rent Estimate

£1,191

Running Costs/mo

£645

Cashflow/mo

£546

Cashflow/yr

£6,551

ROI

9%

Gross Yield

11%

Local Sold Prices

50 sold prices from £62K to £355K, average is £178.5K. £1.3K/m² to £3.5K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£123K02/210.09 mi19, Warberry Road West, Torquay, Torbay TQ1 1NT2
£80K10/230.16 miFlat 17, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£86K10/230.16 miFlat 30, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£68K08/230.16 miFlat 12, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£72K12/200.18 miFlat 38, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£70K10/200.18 miFlat 46, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£70K11/200.18 miFlat 30, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£75K07/210.18 miFlat 36, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£62K09/210.18 miFlat 15, Tor Haven, Abbey Road, Torquay, Torbay TQ2 5NB2
£165K03/230.21 mi63, Princes Road, Torquay, Torbay TQ1 1NW2
£120K11/220.25 mi2a, Coburg Place, Torquay, Torbay TQ2 5SU2
£215K11/220.26 miFlat 6, Ellington Court, St Lukes Road South, Torquay, Torbay TQ2 5NZ2
£188K02/210.27 miFlat 10, Hillsborough, Hillesdon Road, Torquay, Torbay TQ1 1QF2
£355K11/230.28 miEllington Court, Flat 5, St Lukes Road South, Torquay, Torbay TQ2 5NZ2
£127K04/230.29 miFlat 4, The Old Print Works, Braddons Hill Road West, Torquay, Torbay TQ1 1BA2
£195K06/230.29 miFlat 8, Bramhope, Lower Warberry Road, Torquay, Torbay TQ1 1QT2
£285K11/200.31 miApartment 17, The Bay, Cary Road, Torquay, Torbay TQ2 5DR2
£215K09/210.32 miFlat 19, Lytton House, St Lukes Road South, Torquay, Torbay TQ2 5PA2
£249K03/230.32 miFlat 21, Lytton House, St Lukes Road South, Torquay, Torbay TQ2 5PA2
£218K06/210.32 miFlat 20, Lytton House, St Lukes Road South, Torquay, Torbay TQ2 5PA2
£285K02/240.32 miLytton House, Flat 29, St Lukes Road South, Torquay, Torbay TQ2 5PA2
£230K08/210.32 mi31, Highbury Road, Torquay, Torbay TQ1 1TE2
£181K12/200.33 miFlat 8, Vernon Court, Warren Road, Torquay, Torbay TQ2 5TR2
£249.9K11/230.33 miFlat 10, Waldon Court, St Lukes Road South, Torquay, Torbay TQ2 5PB2
£210K07/210.33 miFlat 19, Waldon Court, St Lukes Road South, Torquay, Torbay TQ2 5PB2
£155K04/230.34 mi57a, Rock Road, Torquay, Torbay TQ2 5SR2
£180K06/210.34 miFlat 13, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£195K11/230.34 miFlat 26, Kingsdale Court, St Lukes Road North, Torquay, Torbay TQ2 5YG2
£192.5K04/210.34 miFlat 8, Kingsdale Court, St Lukes Road North, Torquay, Torbay TQ2 5YG2
£130K10/210.36 miFlat 1, Century House, Lower Ellacombe Church Road, Torquay, Torbay TQ1 1JH2
£180K09/230.37 miKenwood, Higher Warberry Road, Torquay, Torbay TQ1 1RY2
£290K05/230.37 miFlat 29, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£300K02/230.37 miFlat 34, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£210K02/230.37 miFlat 27, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£225K06/230.37 miFlat 38, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£280K06/230.37 miFlat 19, Ellesmere, Lower Warberry Road, Torquay, Torbay TQ1 1TR2
£170K12/200.38 miFlat 1, St Ives Court, Furzehill Road, Torquay, Torbay TQ1 3JG2
£160K10/200.38 miFlat 5, St Ives Court, Furzehill Road, Torquay, Torbay TQ1 3JG2
£172K10/210.39 miFlat 16, St Ives Court, Furzehill Road, Torquay, Torbay TQ1 3JG2
£125K06/230.39 mi127, Grange Road, Torquay, Torbay TQ1 1LE2
£124K05/230.39 mi117, Grange Road, Torquay, Torbay TQ1 1LE2
£143K03/230.39 mi125, Grange Road, Torquay, Torbay TQ1 1LE2
£165K10/200.57 miFlat 9, Torwood Court, Old Torwood Road, Torquay, Torbay TQ1 1PT2
£300K05/210.57 miFlat 2, Lisburn, Lower Warberry Road, Torquay, Torbay TQ1 1QS2
£110K09/210.61 miFlat 8, Avenue Lodge, Falkland Road, Torquay, Torbay TQ2 5JP2
£90K02/210.62 miFlat 11, Maxstoke Court, Middle Warberry Road, Torquay, Torbay TQ1 1RP2
£215K03/230.62 miFlat 7, Torwood Court, Old Torwood Road, Torquay, Torbay TQ1 1PT2
£252K09/210.63 miFlat 3, Torwood Gardens Court, Torwood Gardens Road, Torquay, Torbay TQ1 1EQ2
£177K01/210.63 miFlat 1, Greenwood, Torwood Gardens Road, Torquay, Torbay TQ1 1EQ2
£174.6K01/210.63 miFlat 1, Kilburn Hall, Torwood Gardens Road, Torquay, Torbay TQ1 1EQ2

Local Rents

50 rents from £700/mo to £1.4K/mo, average is £908/mo.

RentDateDistanceAddressBeds 
£90002/250.01 mi-2
£90003/250.01 mi-2
£90009/240.01 mi-2
£99502/240.01 mi-2
£90002/250.03 mi-2
£89502/250.07 mi-2
£89509/240.08 miUnion Street, TQ12
£80012/240.11 mi-2
£95009/240.13 miCastle Road, TORQUAY2
£95009/240.14 miUnion Street, TQ22
£85009/240.14 miUnion Street, TQ22
£85009/240.14 miUnion Street, TQ22
£95009/240.17 mi-2
£99509/240.18 mi-2
£1,00004/250.18 mi-2
£85009/240.19 miMelville Street, TORQUAY2
£1,04911/240.2 mi-2
£1,10004/250.2 mi-2
£85009/240.2 miWellington Road, Torquay, Devon2
£1,10002/240.22 mi-2
£1,12501/250.22 mi-2
£91501/250.22 mi-2
£95009/240.27 mi-2
£95009/240.27 miAsh Hill Road, Torquay, TQ12
£1,10010/240.27 mi-2
£80004/250.27 mi-2
£87509/240.28 miVictoria Road, TORQUAY2
£85009/240.3 miGable Park, Lower Ellacombe Church Road, Torquay2
£75009/240.31 miMorgan Avenue, Torquay2
£1,43501/250.34 mi-2
£1,43504/250.34 mi-2
£1,15009/240.36 mi-2
£85009/240.37 miFurzehill Road, St. Ives Court Furzehill Road, TQ12
£77509/240.38 miUpper Braddons Hill Road, Braddons Tor Upper Braddons Hill Road, TQ12
£1,20003/250.38 mi-2
£98009/240.38 miSt Ives Court, Torquay2
£85004/250.4 mi-2
£1,15009/240.42 miThe Terrace, Torquay, TQ12
£73001/250.42 mi-2
£79502/250.42 mi-2
£70009/240.43 miSouthlands Road, Torquay, TQ22
£95009/240.44 mi-2
£95010/240.44 mi-2
£90004/250.45 mi-2
£95008/240.47 mi-2
£1,25009/240.47 mi-2
£95009/240.48 mi-2
£72812/230.48 mi-2
£75001/250.49 mi-2
£82509/240.49 miMagdalene Road, Torquay, TQ12

Local Area Statistics

Population in TQ1

31,207

Population in Torquay

65,319

Town centre distance

1.02 miles away

Nearest school

0.30 miles away

Nearest train station

0.80 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-3%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Listed for £135,000

April 30, 2024

Floor Plans

Description

  • TWO BED FLAT +
  • 3RD FLOOR +
  • DOUBLE GLAZING AND CENTRAL HEATING +
  • MODERN KITCHEN +
  • PARKING +

Main Description Located in the heart of Torquay town centre and is convenient for all the shops, restaurants harbour and beach areas is this two bedroom third floor flat tucked away in a quiet position within the building. This light and airy property offers a good sized open plan kitchen/lounge with the kitchen having a built-in oven and hob and a range of Shaker style wall and base units. There are two good size double bedrooms plus a large bathroom with white suite having a bath with shower over, all with double glazing and gas central heating. This property is located at the end of the building and therefore has no passing neighbours and use of a balcony area with a pleasant outlook. There is a lift and staircase to all floors plus there is an allocated parking space all of which is access to via a secure gated entrance. Early Viewing is strongly recommended. Central arched driveway with electronic gates lead to the development. Lift or stairs to 3rd floor.  Hallway Double glazed front door. Entry intercom. Radiator.  Lounge/Kitchen Lounge area 4.0 m x 3.6 m ( 13'1" in x 11'"9 ) at widest points. A good sized lounge with large double glazed window to the front enjoying an open outlook. TV point. Radiator. Open to.: Kitchen area 2.4 m x 2.1 m ( 7'10" x 6'10") at widest points. Fitted with a range of cream Shaker style wall and base units with black work surfaces over. Built in stainless steel gas hob with matching cooker hood over and oven below. Plumbing for washing machine, space for upright fridge freezer. Metro tiling to the walls and spotlights to the ceiling. Bedroom One - 4m x 3.4m (13'1" x 11'1") at widest points A generous double bedroom having a double glazed window and radiator with pleasant outlook to the front aspect. Bedroom Two - 3.7m x 3.3m (12'1" x 10'9") at widest points Again, a generous double bedroom with double glazed window and a pleasant open outlook. Radiator. Built in cupboard housing Alpha gas boiler for central heating and hot water. Bathroom A large bathroom with a modern white suit comprising panelled bath with Bristan mains shower fitment over and glass splash screen. Pedestal wash hand basin and matching close couple WC with dual flush. Tiled walls. Double glazed window. Chrome ladder radiator. Spotlights to ceiling. Outside Due to the location of this property being at the end of the building the balcony approach is used by the current owners for sitting out on warm evenings and enjoying the cliff and open aspect. Whilst this area does not belong to the flat and is communal it is not used by other residents. Parking There is an allocated parking space within the car park. **Material information ** Leasehold Approximately 116 years remain. Service charge £1344 per year Ground rent £150 per year Review dates for the above charges are yet to be confirmed. AGENTS NOTES These details are meant as a guide only. Any mention of planning permission, loft rooms, extensions etc, does not imply they have all the necessary consents, building control etc. Photographs, measurements, floorplans are also for guidance only and are not necessarily to scale or indicative of size or items included in the sale. Commentary regarding length of lease, maintenance charges etc is based on information supplied to us and may have changed. We recommend you make your own enquiries via your legal representative over any matters that concern you prior to agreeing to purchase.

Agent Details

Taylors (Torbay) Ltd, Torquay

01803 201904

Next Steps?

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