19 Apr Holiday let investment opportunity
The Newton Abbot branch of Rendells, the long-established firm of chartered surveyors, auctioneers, valuers, land and estate agents, is thrilled to offer a unique investment opportunity – a holiday letting property with a 2020/21 income of circa £32,000, and potential for business development with additional holiday lodges.
Boundary Cottage and its adjoining site sit on the outskirts of Torquay and the village of Marldon, around 10 minutes equidistant to the coast and the town of Newton Abbot with its mainline railway station, and within 25 minutes to both Dartmoor National Park in one direction and Exeter city in another.
Boundary Cottage is a beautifully presented, recently converted detached property permitted for holiday letting purposes only. Currently trading, the property is fully booked beyond November 2021 and is set to successfully generate an income of around £32,000 for 2020/21, which represents a rise year on year since 2018.
Inside, the front door leads into a large bright entrance hall with a vaulted ceiling and staircase to the first floor. The 12’10” x 19’1” lounge is dual aspect with full width bi-folding doors opening out to the rear garden, elegant tile flooring and a wood burner creating a contemporary yet cosy feel.
The kitchen/dining room is also dual aspect, fitted with wooden cabinetry and comes with appliances including an oven and hob, extractor, washing machine, dishwasher and wine fridge. There is also a downstairs shower room with a large walk-in shower.
Upstairs, the master bedroom is a very large double room with four Velux windows in the vaulted ceiling, a built-in wardrobe and eaves storage cupboards. The second bedroom is also a double with built-in wardrobes, and there is also a bathroom with a large bath and additional shower.
The property is extremely economical with low running costs. There is underfloor heating throughout the ground floor, solar panelling on the roof and the hot water is supplied by a ground source heat pump and electric emersion heating system.
There is a gravelled driveway with parking for several vehicles. The rear garden is lawned with a mature hedgerow boundary, patio area and a summerhouse. There has previously been planning granted for a double garage – this has now lapsed but could be re-visited.
Adjacent holiday unit site
Planning permission was granted in November 2018 for change of use of the site adjacent to the house, from the Quad Bike Centre to accommodate three holiday lodges. With separate access, the permission grants the creation of a private site containing three holiday lodges with electric, water and a private drainage system. The vendor is currently making an application to renew and vary the site plan to increase the number of units to four.
Jonathan Bell, sales negotiator at Rendells, said: “Boundary Cottage is a bright, spacious, low maintenance modern property with low running costs and, with the scope to develop the adjacent site with a further three or four lodges, this is a very rare opportunity to own and develop a lucrative holiday lettings portfolio.”
For further information, call Jonathan and the Rendells sales team on 01626 353881 or click here. To search property for sale across the South West, visit www.rendells.co.uk or www.theexpertsinproperty.co.uk.