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Property for sale

33 Properties across Burnley and Durham, Burnley and Durham, BB11

Guide Price* £1,875,000

Property Description

Key features

  • Portfolio of 33 properties
  • All currently tenanted

Full description

ONLINE AUCTION - This property is being sold via Loveitts Online Auction and is now LIVE. Visit our website to bid!
https://www.loveitts.co.uk/auctions/online-auction

Unique Opportunity - Tenanted Residential Portfolio - Circa 8.5% yield

Buy to Let residential properties (33 offered) all located in Burnley or Durham with potential gross income in excess of £161,000 p.a, and with potential for increase rent plus long term capital growth.

We understand from the seller that the contractors carry out a minimum of six monthly visits to each property to check the interior condition and avoid a buildup of problems. The same contractors provide a 24/7 maintenance service.

The majority of the portfolio is currently self-managed with the assistance of the helpful and highly cost effective local maintenance contractors. Ten of the properties are let under a Company Let Agreement and local letting agents select, check and recommend new tenants when required.

These agents will also provide full management including rent collection and maintenance management if required.

The buyer therefore has the option to continue with self-management to maximize the return on investment or there is the option of adopting this as a full 'hands off' investment opportunity and can rely on a net monthly payment direct to the owner’s bank account.

The local letting agents as detailed below are ready to answer any questions you may have with regard to the management options available to the buyer.

Local letting agents:

Durham – Karen Williams, Acorn lettings, 0191 5871396, clientmanager6@acornpropertyuk.co.uk

Burnley – Mujeeb Rehman, RPC Lettings, 01282 459459, mujeeb@rpclettings.co.uk

NOTE

The properties have not been inspected by the auctioneers, therefore potential purchasers must satisfy themselves of the accuracy of the information provided. Both rental agents have been very helpful in verifying information and are delighted to assist potential purchasers in any way possible.

NOTE

The tenancy schedule contained within the legal pack is accurate at the point of preparation - 16th November 2016.

For any further information please call Sara Herbert at Loveitts on 024 7652 7789.



Listing History

Added on Rightmove:
25 November 2016

Map & Street View

Disclaimer - Property reference loveitts_1800000_202. 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 Loveitts, Coventry - Auctions. 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.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Loveitts, Coventry - Auctions on 02476 527789.


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