73 Harbour & Quays, 22 Cleveland Road, Torquay, Devon, TQ2 5BE

Description

Freehold Development Opportunity (stpp). Plot size 0.25 acre. The property comprises a substantial detached building within a plot of some 0.25 acre. It is currently arranged as “Harbour”, a two-floor building, and “Quays”, arranged as 3 flats. The property requires modernisation and upgrading. Prospective buyers may also consider a more comprehensive development to re-configure and/or extend the existing property. Purchasers are to rely solely on their own enquiries as to permissions required for intended development.

Accommodation

“Harbour” – a two-floor attached building comprising two reception/dining rooms, office, kitchen, laundry room, one bedroom with en-suite wet room, two bedrooms (one with incomplete works to create wet room), bathroom/wc, one bedroom with ensuite shower/wc, one bedroom with ensuite wet room and wc, living room/kitchenette, and one bedroom with ensuite wet room and wc. “Quays” – a three-floor building arranged as three flats. Flat 1: one room, one bedroom with ensuite wet room and wc. Flat 2: studio room, kitchen, shower room/wc. Flat 3: one room, bedroom with ensuite wet room and wc.

Location

The property is set in the heart of Torquay and less than 1 mile from the coast. Torquay offers shopping facilities and recreational pursuits. Newton Road and Riviera Way provide transport links north to the A381, and Torquay train station is within a 0.7 mile walk.

Tenure / Property Information

Investment Analysis

The £225,000 guide is not sufficient to establish market value or GDV. The supplied Land Registry evidence ranges from £240,000 to £745,000 for materially different property types and configurations, so it is not a reliable valuation basis for this substantial multi-building development. The accommodation includes Harbour plus three Quays flats, but no planning scheme, measured areas, condition survey, development appraisal or comparable multi-unit evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after independent planning, building-condition, measurement, refurbishment-cost and valuation due diligence. Do not rely on the guide or supplied comparables to set a bid.

Works Required

Modernisation and upgrading are required. The described incomplete wet-room works may need completion. Buyers may investigate reconfiguration and/or extension of the existing Harbour and Quays buildings, subject to planning and other required permissions. No cost allowance can be supported from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is unsupported without verified refurbishment costs, achievable rents, a valuation or GDV, planning position and finance assumptions. The £1,800 buyer administration charge is known, but the seller may also charge additional completion fees under the Special Conditions of Sale.

Buy-to-Let Analysis

BTL performance cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. The three Quays flats have EPC ratings of E, while Harbour’s EPC is TBC. Vacant possession is stated, but passing income is not.

Flip Analysis

A flip appraisal cannot be quantified. The property is marketed as a development opportunity and may require modernisation, upgrading and potentially planning-led reconfiguration or extension. The supplied sold comparables are too varied to support a resale GDV or surplus calculation.

Investor Risks & Due Diligence

• Planning permission and other permissions required for intended development are unconfirmed.

• Refurbishment and upgrading costs cannot be quantified from the supplied evidence.

• The described incomplete wet-room works may require further expenditure.

• Harbour EPC is TBC and all three Quays flats are rated EPC E.

• Parking and heating details are unconfirmed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• The sold comparables represent different property types and configurations and may not be directly comparable.

• No rent or passing-income evidence is available.

Recommendation

Proceed only after independent planning, building-condition, measurement, refurbishment-cost and valuation due diligence. Do not rely on the guide or supplied comparables to set a bid.

Strategy Rating

Analysis Confidence

No usable rental evidence, refurbishment budget, measured floor areas, planning information, detailed condition report, GDV valuation or comparable multi-unit sales are supplied.