1-bedroom flat · TQ2 5LU
For saleReduced £20k (−28.6%) on 15 OctListed 286 days
Opportunity summary
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About
A one bedroom retirement apartment located on the first floor. Homequay House was constructed by McCarthy & Stone Development and comprises of 37 properties over 4 floors, each served by a lift.
There is a development manager who can be contacted in case of an emergency. The property comprises entrance hall, lounge, kitchen, one bedroom and bathroom.
Lounge - 6.92m x 3.23m (22'8" x 10'7") A good sized lounge/diner with sliding doors out to the balcony.
Kitchen - 2.18m x 1.64m (7'1" x 5'4") A modern kitchen with cupboards under and over, stainless steel sink unit, work tops, built in fridge freezer, power points and extractor fan.
Bedroom - 4.66m x 2.64m (15'3" x 8'7") Built in wardrobe, emergency intercom, electric night storage heater, power points and emergency pill cord.
Shower Room Walk in shower, emergency push button, vanity unit. WC with low level flush and wall mounted electric heater. Outside Balcony.
Lease expires 31 August 2081 - Service charge £4434 per year, includes Building insurance, maintenance, gardening, window cleaning and water rates.
Ground Rent £765.72 per year Management Agent: First Port Retirement Property Services age restriction 60+ Pets allowed Verified Material Information Council Tax band: B Tenure: Leasehold Lease length: 96 years remaining (139 years from 1982) Ground rent: £1000 pa Service charge: £4000 pa Property type: Flat Property construction: Standard construction Energy Performance rating: B Electricity supply: Mains electricity Solar Panels: No Other electricity sources: No Water supply: Mains water supply Sewerage: Mains Heating: None is installed.
Heating features: Double glazing and Night storage Broadband: FTTP (Fibre to the Premises) Mobile coverage: O2 - Great, Vodafone - Great, Three - Good, EE - Good Parking: Building safety issues: No Restrictions - Listed Building: No Restrictions - Conservation Area: No Restrictions - Tree Preservation Orders: None Public right of way: No Long-term area flood risk: No Historical flooding: No Flood defences: No Coastal erosion risk: No Planning permission issues: No Accessibility and adaptations: Lift access Coal mining area: No Non-coal mining area: Yes All information is provided without warranty.
Contains hm Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.
The information contained is intended to help you decide whether the property is suitable for you.
You should verify any answers which are important to you with your property lawyer or surveyor or ask for quotes from the appropriate trade experts: Builder, plumber, electrician, damp, and timber expert.
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.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Homequay House,9, Falkland Road, Torquay
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