11 bedroom block of apartments for sale

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11 bedroom block of apartments for sale

The Riviera, Paignton, Devon, TQ4
£1,550,000

Price History

Initial price £1,800,000
14/05/25 £1,500,000
15/05/25 £1,550,000
Price Change -13.89%

Description

This newly refurbished residential investment property offers 11 self-contained supported living units, providing specialist accommodation for vulnerable adults with learning disabilities, mental health challenges, and acquired brain injuries. The property is located near the Esplanade and town centre, with communal areas, staff rooms, and large garden spaces. Let on a 20-year FRI lease to Inclusion Homes CIC, the current passing rent is £131,560 per annum, with annual CPI linked increases. The freehold property is being offered for sale with a guide price of £1,550,000, reflecting a Net Initial Yield of 8% and a low Capital Value of £247 per sq ft.