Property for sale

Houghton Le Spring - Residential Portfolio

£825,000

Property Description

Key features

  • Fully Let Portfolio of 15 Houses
  • Producing a Rental Income of 95,940 Per Annum
  • Three 3 Bed Houses and Twelve 2 bed Houses
  • Available In Individual Lots
  • Reflects 10.99% Net Initial Yield After Costs
  • EPC's Available upon Request

Full description

SITUATION
The subject properties are situated in and around around Front Street Fencehouses. Front Street comprises of a mix of residential and commercial properties. Houghton le Spring is approximately 7 miles north east of Durham and 6 miles south west of Sunderland. The A690 from Durham to Sunderland meets at the A182 in Houghton and provides access to the A19 and A1.

DESCRIPTION
The subject properties comprise of terraced, two storey, 2 and 3 bedroom houses which are estimated to have been constructed in the early 1900’s. We have not inspected the properties and recommend viewings to confirm our understanding and satisfy yourself to the condition and arrangement of the houses.

ACCOMMODATION
Twelve 2 Bedroom Terraced Houses
Three 3 Bedroom Terraced Houses

TENANCIES
We are advised that the properties are all let by way of Assured Shorthold Tenancy Agreements at £120 per week for the 2 bedroom houses and £135 per week for the 3 bedroom houses. The overall passing rent is £95,940 per annum.

TERMS
Our client is seeking offers at £825,000 for the benefit of their Freehold Interest. This reflects a Net Initial Yield of 10.99% after purchasers costs at the prevailing rate.. The properties are available for sale in smaller lot sizes, details on application.

LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.

VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

VIEWING
For general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors.

Kristian Sorensen & Richard Rafique
Tel: 0191 232 8080
Email: Kristian.sorensen@bradleyhall.co.uk
Email: richard.rafique@bradleyhall.co.uk

 


Listing History

Added on Rightmove:
26 October 2016

Nearest stations

  • Chester-le-Street (3.3 mi)
  • South Hylton (4.8 mi)
  • Durham (5.5 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial

1 Hood Street Newcastle Upon Tyne NE1 6JQ

0191 687 0029 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Chester-le-Street (3.3 mi)
  • South Hylton (4.8 mi)
  • Durham (5.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial

1 Hood Street Newcastle Upon Tyne NE1 6JQ

0191 687 0029 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 2674. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.