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For Sale 1 Bedroom 1 Bathroom 1 Reception From £145,000

Darthmouth Road, Paignton, TQ4 - From £145,000

  • **INVESTMENT OPPORTUNITY**
  • Care 1 Bed Apartment from £145,000
  • Reserve for £2,000 per unit
  • Guaranteed 110% buy-back in Year 5 and 125% in Year 10

CARING COMMUNITIES PAIGNTON | CARE APARTMENTS from £145,000

Due to huge investor demand, The Care Home Group is delighted to unveil the latest addition to its portfolio.

Located in a prominent and convenient location near both the centre of town and the beach and pier, our new acquisition is an 25-bed former care home in the popular seaside resort of Paignton within the Torbay region of Devon in south-west England. Accommodation is arranged over three floors, with spacious communal areas on the ground floor and 22 ensuite studios, plus three apartments.

The purpose-built home was run by a national operator before closing early in 2017. It has been acquired vacant, enabling The Care Home Group to plan extensive refurbishment works with no disruption to residents. The fully-furnished studios will be complemented by the Group's vibrant interior design schemes, with premium quality furnishing, fabrics, prints and accessories creating truly unique living spaces designed for later life.

The new home will boast a number of elegant communal areas for fine dining, relaxation and socialising, with the beautiful Torbay beaches of Paignton, Brixham and Torquay - known as the 'English Riviera' - on its doorstep

INVESTMENT HIGHLIGHTS

o Investor-discounted prices from £145,000

o Reserve for £2,000 per unit

o Receive rental income from the occupied studio, paid monthly into your chosen bank account 14 days after you complete...

o ...or choose a managed service provider to manage your studio and ensure a regular monthly return

o All studios are within 5-star luxury facilities with care provided by an experienced CQC-regulated operator

o Guaranteed 110% buy-back in Year 5 and 125% in Year 10

o The opportunity to purchase further studios within our development portfolio, ensuring a continuing ROI

INVESTMENT OPPORTUNITY: Room purchase and rental income

Investors can purchase the leaseholds of individual room within our development at a 30% discount on their full market price. On completion, investors can choose one of three ways to receive their income:

Option 1: Investor as Landlord

Receive rental income based on the studio's market rate, with a developer's cash-back on completion to cover the period of refurbishment works. Developer's cash-back will be 3% of the investor purchase price (e.g. £2698.50 on a purchase price of £89,950). Income will then be paid when the studio is occupied. (This option offers the highest ROI but is dependent on the studio being permanently occupied)

Option 2: Managed Service (Investor can terminate their contract with the managing agent by giving six months' notice. If termination happens within the first 12 months of contract, a penalty fee of 25% of the annual rent will be charged)

Receive a 10% fixed monthly income by using a lease management company, such as our preferred supplier Care Home Freehold Ltd. This will safeguard income regardless of whether the bedroom is occupied or not. The same developer's cash-back is paid during refurbishment works, and the managing agent will charge a one-off fee of 25% of the total annual rent to cover legal, admin and maintenance fees. This one-off fee (+ VAT) will be paid to the managing agent out of your developer's cash-back; with the one off fee equalling the cash-back amount, leaving a zero balance.

Option 3: Self Occupancy (An investor switching from Option 1 or 2 to Option 3 will pay the difference between their discounted purchase price and full market price of the studio)

An investor may choose to pay the full market price for the studio, either for their own use or for a family member (T&Cs and eligibility criteria apply).

Investors can choose to swap between these options at any time 3,4 (T&Cs apply).

Call our Investment Team on 0330 223 0331 to reserve your unit.

...Read Less

The Stamp Duty for this property would be £400    (Show break down) (Hide break down)

Purchase price bands (£)Percentage rate (%)SDLT due (£)
Up to 125,000 0 £ 0
Above £125,000 and up to £250,000 2 £ 400
Above £250,000 and up to £925,000 5 £0
Above £925,000 and up to £1,500,000 10 £0
Above £1,500,000+ 12> £ 0
*This is for illustrative purposes only

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