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Five Devon properties to go under the hammer in London

Five Devon properties to go under the hammer in London

Posted: Thursday 6 September 2018

CHARLES Darrow Network Auctions have been tasked with selling five Devon properties as commercial property owners increasingly rely on auctions to find them a buyer.

The auction will be held on September 12 at the Grosvenor House Hotel, Park Lane, London.

Le Chalet, a former care home in Barnstaple, has the potential to be upgraded in its current form or developed as a residential scheme subject to the necessary planning permission.

Run as a care home up until August 2018, Le Chalet has 12 bedrooms on the ground floor and a two-bedroom manager’s apartment on the first floor.

It has a guide price of £245,000.

A large HMO property in Vansittart Road in Torquay is also amongst the lots with a guide price of in excess of £795,000.

Located in a quiet residential area and refurbished to a high standard, the property is within easy reach of Torbay Hospital, Torre station and the town centre.

The lower ground flat comprises a two-bedroom flat, while the ground floor has ten rooms with sun lounge and communal kitchen and dining room and the first floor similarly has 10 rooms as well as a communal bathroom and kitchen washing area.

A guide price of in excess of £250,000 has been placed on a landmark building in the heart of Paignton.

Located opposite Paignton railway station, the 14,985 square foot investment property at 62-70 Victoria Street is tipped to attract widespread interest.

Meanwhile, a property in Midvale Road, Paignton, has a guide price of £325,000.

The substantial three-storey investment property comprising 11 flats – all on held assured shorthold tenancies – and produces £60,164 rental income per annum.

Having been under the same ownership for the last 30 years, the property has undergone constant improvements and is located within a short walk of Paignton town centre.

Lastly a Grade II listed pub and restaurant investment with extensive residential accommodation is up for grabs in the heart of Tavistock.

The Explorer has been the subject of significant investment, with the addition of a first-floor restaurant as well as boasting a smart ground floor public bar.

Producing a rental income of £36,000 a year the property has a guide price of in excess of £350,000 has been placed on the property.

Charles Darrow Network Auctions director Paul Heather said: “These properties have been sensibly priced and are already attracting a lot of interest. Owing to the significant returns or potential they offer, I anticipate competitive bidding. There is still time to view ahead of the auction, so I would recommend booking an appointment as soon as possible”.

For more information visit the Charles Darrow website