BIDDING OPENS in...

Plans

  Portfolio of 8 Properties, Tower Road  Darlington

Click to Enlarge Floorplan Image

Map & Location

Map   Street View   Satellite

Description

  • Status: Available
  • Type: Portfolio
  • Ownership: Freehold
  • Occupation: Tenanted
  • Tax/Rates:

**OUTSTANDING INVESTMENT OPPORTUNITY** Portfolio of 8 refurbished properties - 7 X 2 Bedroom and 1 x 1 Bedroom- Handsome Victorian building. Set in the popular Cockerton area of Darlington

*** FREEHOLD PROPERTY COMPRISING 8 SELF CONTAINED FLATS*** outstanding investment opportunity with each property and all common areas finished to an extremely high standard.

IMMEDIATE RENTAL INCOME - from 5 tenanted properties- of £3,170pcm giving a current annual return of £38,040. Full occupancy would generate an approximate income of £61,000 per annum- over £5,000pcm.

SOUGHT AFTER LOCATION within the West End of Darlington with super access to local primary and secondary schooling. North Road Rail under 1 mile away. MASSIVE TENANT DEMAND LOCALLY.

The property boasts an excellent outdoor space- including secure flooodlit car park and resident garden. PERFECT INVESTMENT GENERATING POSITIVE CASHFLOW with capital growth potential.

**FREEHOLD SALE- Blonde Sandstone Building** Apartment 1 Located to the ground floor, private access from car park. One bedroom. EPC Rating F. Currently vacant, expected rental income £600PCM. EPC rental exemption currently in the process of being applied for. Apartment 2 Located to the ground floor, private access from car park. Two bedroom. EPC Rating F. Currently vacant- Potential rental of £650pcm EPC rental exemption currently in the process of being applied for. Apartment 3 Located to the ground floor. Two bedroom. EPC Rating E. Let, rental income £625 pcm. Apartment 4 Located to the ground floor, private access from car park. Two bedroom. EPC Rating E. Tenanted, rental income £595. Apartment 5 Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income £650. Apartment 6 Located to the first floor. Two bedroom. EPC Rating G. Currently used as AirBNB with varying rental income- Long-term rental potential of £650pcm Apartment 7 Located to the first floor. Two bedroom. EPC Rating E. Vacant, expected rent income £650 pcm. Apartment 8 Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income £650.

Darlington is a market town in County Durham, England. The unitary authority borough named after the town which forms its centre is a constituent member of the devolved Tees Valley area. A tributary of the River Tees, to the south of the town, known as the River Skerne flows through the town. Darlington has a resident population of approximately 95,000 with a wider population of over 850,000 within a 1 hour radius. New development and investment in the town has seen an increase in house prices and demand for housing creating an increase in rental figures.

Full Address:  Portfolio of 8 Properties, Tower Road, Darlington, DL3 6RW

Show More

Tenancy Details

Type of Agreement:
Length: Various
Rent: £38,040 per year / £3,170 per month
Yield: 6% (approx)
Tenant: Private Individual
Notes: Partially let. Potential rental in excess of £60,000 per annum (approx 9% yield).

Document Downloads

Legal Pack (Available)

Pricing Information & Bidding

Opening Bid: £594,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

View Live Online Auction

Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Submit Offer Now

Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Payment Calculator

Please use our PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.

Payment Calculator

Auction Details

Date & Time: 12 December 2024, 10am-3pm
Type: Timed Online Auction

View Full Auction Catalogue