12 bedroom apartment for saleSummerhouse Square
- INVESTMENT PORTFOLIO
- APARTMENT BLOCK
- INCOME OF £47,100 GROSS
- CLOSE TO LOCAL HIGH STREET
- ALL TENANTED
- GREAT LOCATION
- UP AND COMING AREA
- VIEWING HIGHLY RECOMMENDED
SUMMARY Carousel Estate Agents are offering this Residential Investment Portfolio.
An opportunity to acquire this prime sited development of 8 apartments. The apartment block is located just off a local High Street which is ideal for bus and transport links.
LOCATION Alexandra House is located in Summerhouse Square approximately 100yds West of the High Street, Norton on Tees. It stands within a fenced car park which accesses the rear of The Library.
Norton boasts a very popular and up and coming High Street with good parking, nice restaurants, Café's and shops. It has grown in popularity strongly in recent years and will continue to do so in our opinion.
Alexandra House is about 1 mile from the A19 and less than 10 miles from the A66 giving direct access to the West coast, The Lakes and Scotland.
DESCRIPTION It enjoys a very secluded and peaceful location with a small managed garden area. The Building sits with the Car Park around 3 sides giving excellent parking right by the entrance door. The fronts of the apartments face East or West.
The property is a modern brick built structure completed in 2009 and retaining guarantees which we believe are transferable to the purchaser.
EPC's available for each apartment.
We believe a visit to the area is essential.
TENURE The property is available as a single lot. Freehold subject to current tenancies, which we believe were all granted as assured short hold tenancies with some now holding over at the current owners discretion.
The property is fully let at present and delivers an annual income of £47,100 gross. All management and service costs, which are very small are paid for by the landlord at present but it is recognized this would change with the change of ownership.
ACCOMMODATION The development comprises:
2 Ground floor 2 bedroom apartments
2 Ground floor 1 bedroom apartments
2 First floor 2 bedroom apartments
2 First floor 1 bedroom apartments
FURTHER INFORMATION The property benefits from high occupancy levels and is fully let at present.
We believe there is considerable opportunity to raise the income from the current levels.
The building is easily managed and serviced.
Further information is available on request, including:
A full tenancy schedule
Management information and budgets
Sample tenancy agreement
Warranties and compliance documentation
Environmental reports 2006
Investment yield as is and projected
SALES PROCESS We believe this investment offers a unique opportunity to acquire an easily managed residential property within a self-contained site in the popular area of Norton within Stockton on Tees. It offers good opportunity for rental growth.
DISCLAIMER These Particulars are believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. The purchaser should not reply on them as statements of representation of fact but must satisfy themselves by inspection or otherwise as to their accuracy. No person in Carousel Estate Agents Ltd has the authority to make or give a representation or warranty in respect of the property.
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Disclaimer - Property reference 101137000621. 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 Carousel Estate Agents, Gateshead. 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.
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