Flat for sale in Maer Down, Bude EX23

£795,000
Flat for sale - 6 bedrooms 6 8 6
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Property features

  • Freehold opportunity for block of 6 flats
  • Cornwall Council have agreed in principle to a development of 8 apts on the site subject to planning
  • Prime coastal position with sea views
  • In need of modernisation and refurbishment
  • Great investment block, or redevelopment
  • Parking opposite for 6 vehicles

Property description

A rare opportunity, with huge potential, to acquire a Freehold block of six self contained apartments in a coastal position situated only a few hundred yards from Crooklets beach and with sea views. Originally built as a motel the building was later converted into 6 x flats, which have been rented on Assured Shorthold Tenancies for some time and tenants are in situ with a gross annual rent of just under £35,000 pa.

The building could be refurbished and modernised to an exceptional and high value standard, or be demolished and re-developed completely (subject to planning consent). The location and close proximity to the beach makes this prime for re-sale or into a high yielding holiday let business.

In addition to the building, there is also a small area of hardstanding on the opposite side of the road providing off road parking.

Property description A rare opportunity, with huge potential, to acquire a Freehold block of six self contained apartments in a coastal position situated only a few hundred yards from Crooklets beach and with sea views. Originally built as a motel the building was later converted into 6 x flats, which have been rented on Assured Shorthold Tenancies for some time and tenants are in situ with a gross annual rent of just under £35,000 pa.

The building could be refurbished and modernised to an exceptional and high value standard, or be demolished and re-developed completely (subject to planning consent). The location and close proximity to the beach makes this prime for re-sale or into a high yielding holiday let business.

In addition to the building, there is also a small area of hardstanding on the opposite side of the road providing off road parking.

Flat one First floor flat that offers a lounge/dining room, separate kitchen, one bedroom and a bathroom. Rented out at £525.00 pcm. Lease commenced 1st November 2021.

Flat two First floor flat that offers a lounge/dining room, separate kitchen, one bedroom and a wet room. Rented out at £485.00 pcm. Lease commenced 8th October 2021.

Flat three First floor flat that offers a open plan kitchen/living/dining room, one bedroom with a dressing area and a bathroom. Rented out at £470 pcm. Lease commenced 28th September 2015.

Flat four A ground floor flat the offers a living room, kitchen/dining room, utility, bedroom with en suite and a separate bathroom. This could be sub-divided to create two self contained studio flats. Rented out at £540.00 pcm. Lease commenced 1st February 2021.

Flat five Ground floor flat that offers a lounge/dining room, separate kitchen, one bedroom with a en suite and a separate bathroom. Rented out at £470.00 pcm. Lease commenced 25th June 2021.

Flat six Ground floor flat that offers a lounge/dining room, kitchen, one bedroom with a dressing area and a bathroom. Rented out at £470 pcm. Lease commenced 1st March 2017.

Outside Outside there is a paved courtyard seating area to the front with external steps that lead up to the first floor balcony. There is also an area for parking opposite. Please note there is no land to the rear.

Agents note Please note the floorplan is for guidance only.

Agents note We are advised that our vendor made a Pre-App under PA20/02470/preapp for the proposed demolition of the existing building and replacement with a new block to comprise 8 apartments. We are advised there was a positive response, but prospective purchasers must familiarise themselves with this by visiting Cornwall Council online planning portal.

Property info

Floorplan(s): Floorplan 1

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Colwills Estate Agents, EX23 on +44 1288 358015 * (local rate)

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