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12 bedroom apartment for sale

Summerhouse Square

Removed POA

Property Description

Key features

  • INCOME OF £47,100 GROSS

Full description

Tenure: Freehold

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
• Title information
• Management information and budgets
• EPC's
• Sample tenancy agreement
• Warranties and compliance documentation
• Architects drawings
• 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.  

More information from this agent

Listing History

Added on Rightmove:
25 June 2016

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