29 Wharton Street and 5 Errol Street, Hartlepool, County Durham TS24 8BQ
- PROPERTY TYPE
Block of Apartments
- BEDROOMS
4
- BATHROOMS
4
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Description
Auction Commencing on Monday 28th September at 1pm and ending 24 hours later on Tuesday 29th September at 11am with Auction House North East.
Please register to bid via our website - auctionhouse.co.uk/northeast
Freehold Investment Opportunity – Block of Four Self-Contained Apartments – Fully Let – £24,936 Per Annum
An excellent opportunity to acquire a substantial freehold residential investment comprising four self-contained apartments, prominently positioned on the corner of Wharton Street and Errol Street in Hartlepool.
The property is arranged over three floors and comprises two studio apartments and two one-bedroom apartments, all of which are currently occupied by established long-term tenants. We are advised that all tenants are mature single occupants, are paying their rent on time with no current arrears, and wish to remain in occupation following the sale.
The current rental schedule is:
Studio Apartment – £455 pcm
Studio Apartment – £540 pcm
One-Bedroom Apartment – £520 pcm
One-Bedroom Apartment – £563 pcm
This provides a combined rental income of £2,080 per calendar month / £24,960 per annum.
Internally, the apartments provide self-contained living accommodation with kitchen facilities and shower/bathrooms. The building extends to approximately 123 sq m (1,324 sq ft) in total according to the supplied floor plan.
We are advised that the property has also benefited from a full roof replacement, providing a further attraction for investors.
A ready-made income-producing investment offering immediate rental income from four established tenancies, making this an attractive proposition for landlords and portfolio investors.
Tenure: Freehold
Current Rental Income: £24,960 per annum
Occupancy: Fully Let
Accommodation: 2 x Studio Apartments & 2 x One-Bedroom Apartments
Floor Area: Approximately 123 sq m / 1,324 sq ft
Sold Subject to Existing Tenancies
The property has double glazing.
Tenure: Freehold
EPC Rating: see legal pack
Administration Fee: £3600 inc VAT payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
29 Wharton Street and 5 Errol Street, Hartlepool, County Durham TS24 8BQ
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Visit our security centre to find out moreDisclaimer - Property reference 202609031333sq_dyx9. 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 Auction House, North East. 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.
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 Auction House, North East on 0191 917 9650.
*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.”
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