Property for sale in Lower Gunstone, Bideford EX39

Located in the heart of town, just a short stroll from all amenities, this charming stone-fronted property offers an exceptional investment opportunity. Expertly converted 30 years ago, the building now houses 3 self-contained flats and a separate 2 Bedroom cottage, each offering significant rental potential.

Spanning 3 floors, the property is accessed via a Communal Hallway, featuring a spiral staircase. On the Ground Floor, you'll find a well-appointed 1 Bedroom flat. The first and second floors each host identical 2 Bedroom flats, with the top floor flat benefiting from additional roof lights and both enjoying partial river views.

Within the Communal Hallway, there is a secure storage area, currently used for bicycle storage, adding to the appeal for tenants. The flats are accessed by a covered walkway that leads to the rear of the building, where you'll discover the adjoining 2 Bedroom cottage. This cottage, which boasts a private courtyard, is currently vacant and offers an excellent opportunity for refurbishment to further increase its rental value.

The flats have a proven track record of successful letting, with long-term tenants in place, generating a current annual rental income of approximately £22,500. However, there is significant potential to increase this figure in line with current market rates, particularly after modernising the vacant cottage.

Realistically priced to attract an early sale, this property represents a superb investment with immediate income and potential for growth. Don’t miss out on this unique opportunity to enhance your property portfolio in a highly desirable location.Bideford is a peaceful olde worlde market town on the River Torridge. The main district is on the west bank and its narrow streets filled with white painted houses sprawl from the working quay, up the slopes to the outer suburbs. A former historic port town, Bideford is a great place to explore, whether it’s a trip to the shops or a restaurant outing there's something for everyone. The Pannier Market is a brilliant example of the town’s originality, with its terrace of artists’ workshops and independent shops. The town also champions sports at a grassroots level with both the local rugby and football teams having healthy followings. There are no end of ways to join in the community spirit of this wonderful white town on the hill.

All the amenities you'll ever need are to be found within easy reach of Bideford. To the north are the coastal towns of Westward Ho!, Appledore and Northam, all of which will figure in your day-to-day routines if you enjoy the sea or the outdoor life. Northam boasts a brilliant indoor swimming pool and gym.

Bideford is within short driving distance of the Atlantic Highway (A39) which is the main feeder route across the region leading to Cornwall in the south-west and to the M5 in the east. A regular bus service provides access to North Devon’s ‘capital’, Barnstaple. Bus users can also reach Westward Ho!, Braunton, Appledore, Croyde and Ilfracombe.<br/><br/><b>Directions</b><br/>By car: From Bideford Quay, proceed up High Street. At the top of the High Street, turn right and then immediately right again into Higher Gunstone. Number 8 Lower Gunstone will be found on your right hand side.

On foot: From Mill Street, with the High Street behind you, take the first left hand turning into Lower Gunstone to where number 8 will be found a short distance on your left hand side.

Agents Notes

Current Rent : Flat 1 £395pcm. Flat 2 £550pcm. Flat 3 £422.11pcm. Bond Cottage (currently vacant) £525pcm.

The main water meter is situated in Flat 1. There are sub meters in the other properties and the current landlord invoices the tenants accordingly.

Each property has its own gas boiler and radiator heating.