House For Sale £395,000
Hillsborough Terrace, Ilfracombe, Devon, EX34

5 Hillsborough Terrace is a substantial Georgian Grade II Listed terraced residence with very spacious accommodation arranged over 5 floors (including a basement). The property has been arranged as 4 self-contained flats for many years which are all currently tenanted on assured shorthold tenancies achieving a gross annual income of circa £22,000.

There are outstanding views over the neighbouring St. James Park gardens and across the picturesque harbour and quay taking in Lantern Hill, the pier with world renowned artist Damien Hirst's 'Verity' statue, Hillsborough, the Bristol Channel and across to the distant Welsh coastline. The convenient location is handy for all of the local amenities with the High Street being just 500 metres away and the seafront and harbour being just a short stroll through the park gardens opposite. There are schools for all ages, local supermarkets, beaches and plenty of walking on nearby Hillsborough.

The building is in need of modernisation and updating throughout and there is huge scope and potential. The property could be developed and sold off as individual flats (subject to all necessary consents) or be refurbished as one large family home. The flats could be continued to be let out as they are and as previously mentioned they currently produce a gross annual income in the region of £22,000. The property is being sold with the tenants in situ.

The property was built in the late Georgian grand terrace tradition and is thought to date back to the early 1800's. There is a flat on each of the main four floors of the building. The floor plans within these sales details show the configuration of each floor and how the flats can be arranged. The basement is accessed via a staircase from the ground floor and is currently being utilized as a workshop.

Outside to the front of the property there is an area that the current vendor has used to park on exclusively for many decades. To the rear of the property there is a small courtyard that can be accessed from the kitchen. To the rear of the courtyard, steps lead up to a gate that leads out on to Hillsborough Mews.

There are all mains services connected to the building. The electricity, water and gas is separately metered to each of the 4 flats. All of the flats are separately rated and have individual council tax.

5 Hillsborough Terrace represents and rare opportunity to own an entire freehold property on this terrace and is an excellent investment purchase.

EPC

Flat 1 – D

Flat 2 – D

Flat 3 – C

Flat 4 - D
Applicants are advised to proceed from our offices in an easterly direction along the High Street. Follow the road on into Portland Street and continue up the hill for approximately 450 metres. Turn right into driveway to Hillsborough Terrace which is opposite Lantern Court (McCarthy & Stone) and just before the traffic lights. Follow the drive up and No 5 Hillsborough Terrace will be found towards the right hand end of the terrace.