House For Sale £340,000
Fore Street, Ilfracombe, North Devon, EX34

An great opportunity to purchase this freehold property, comprising of 5 self-contained flats with additional lock up shop. The property generates approximately 10% gross yield per annum and may suit as part of a pension portfolio.

Rocky Apartments Is situated in Ilfracombe’s oldest street which connects Ilfracombe’s High Street to the beautiful Harbour area with its range of restaurants and galleries.

The building itself is arranged as self-contained units, comprising 1 x 2 bedroom flat, 4 x 1 bedroom flats and lock up shop. There is also a courtyard area to the rear of the building. For many years the flats have been let on assured shorthold tenancies, with some being holiday let in the past. The property has flexibility and it may suit a purchase to look at a holiday letting business subject to relevant permissions.

Douglas and Dean have been the managing agents for this building for a number of years, we would be happy to continue fully managing the building for a new purchaser giving a turnkey operation with income stream from day one. The current gross income is approximately £2,850 per month, giving an annual income of just over £34,000 and a 10% Gross yield (when fully occupied).

EPC's
Basement Flat, 49 SQM
Flat 1, 27 SQM
Flat 2, 84 SQM
Flat 3, 33 SQM
Flat 4, 33 SQM
Agents Note:
There is a right of way through the external walkway to the left of the building and through the rear garden. Beyond is a parcel of land which is available by separate negotiation.
All flats are band 'A' council tax
Further photos will be available in early 2023