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11 bedroom block of apartments for sale
The Riviera, Paignton, Devon, TQ4
£1,550,000
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.