The Courtyard, Craghead, Stanley, DH9

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FOUR BEDROOM FREEHOLD BUY TO LET INVESTMENT WITH ESTABLISHED TENANT AND EXCELLENT RENTAL GROWTH POTENTIAL

THE COURTYARD, CRAGHEAD, STANLEY, COUNTY DURHAM

OFFERS IN EXCESS OF £155,000

An excellent opportunity for property investors and established landlords to acquire a substantial four bedroom freehold residential investment property with an existing long term tenant and considerable potential to improve future rental returns.

Situated within The Courtyard in Craghead, near Stanley, this property offers generous family accommodation, an established rental income and the opportunity to purchase an investment with a tenant already in occupation.

The property has been occupied by the existing tenant since December 2018, providing an established tenancy history. The tenant intends to remain following completion, allowing the incoming landlord to acquire an existing rental investment without the immediate need to source a new tenant.

This opportunity may particularly appeal to experienced landlords looking to expand their portfolios, investors seeking rental income and purchasers interested in properties with longer term capital and rental growth potential.

THE INVESTMENT OPPORTUNITY

The property is offered for sale at offers in excess of £155,000.

Current monthly rental income is £695, producing an annual rental income of £8,340 and a gross rental yield of approximately 5.38 per cent based on the advertised purchase price.

The estimated current market rental value is £1,075 per calendar month, equivalent to £12,900 annually.

If this estimated rental income were achieved, the potential gross rental yield would increase to approximately 8.32 per cent based on the advertised purchase price.

This represents a potential additional rental income of £380 per month or £4,560 annually.

The estimated market rental value is subject to independent verification, prevailing market conditions, the existing tenancy and applicable legislation. Any future rental increase must be undertaken in accordance with the relevant legal requirements.

The opportunity to review rental performance over time may be particularly attractive to landlords seeking to improve the income generated by their existing investment portfolios.

PROPERTY ACCOMMODATION

The property provides substantial accommodation arranged over multiple levels, offering flexible living space suitable for family occupation.

The accommodation includes four bedrooms, a family bathroom, two en suite facilities and a separate ground floor WC.

The property also benefits from gas central heating.

The generous bedroom accommodation and multiple bathroom facilities make the property particularly suitable for larger households and families requiring additional living space.

For investors, four bedroom family accommodation may offer an alternative to smaller buy to let properties and may appeal to tenants seeking longer term residential stability.

The property is currently occupied, and all viewings will be arranged by prior appointment with appropriate consideration for the existing tenant.

ESTABLISHED TENANCY AND EXISTING RENTAL INCOME

One of the principal attractions of this investment is the established tenant who has occupied the property since December 2018.

The property currently generates £695 per calendar month in rental income.

No rental arrears have been reported in the information supplied.

Purchasing an investment property with an established tenant can offer several advantages compared with acquiring a vacant property.

There is no immediate requirement to advertise the property to find a new tenant.

The existing rental income is already established, subject to the tenant continuing to meet their obligations.

The incoming landlord has the opportunity to review the existing tenancy arrangements and rental payment history as part of their purchase enquiries.

There may also be an opportunity to continue the existing property management arrangements, providing continuity following completion.

For investors who value their time and prefer to acquire properties with an existing tenancy, this may represent an attractive addition to their portfolio.

POTENTIAL RENTAL GROWTH

The property currently produces £8,340 annually in rental income.

The estimated market rental value of £1,075 per calendar month suggests potential annual rental income of £12,900.

This indicates a potential increase in gross rental income of approximately 54.7 per cent compared with the existing rental level.

For an investor adopting a longer term strategy, this difference may present an opportunity to improve rental performance, subject to the appropriate legal procedures and market conditions.

The higher rental figure is an estimate and is not guaranteed. Investors should undertake their own enquiries regarding achievable market rent and the timing of any potential increase.

PROPERTY VALUE AND PURCHASE OPPORTUNITY

The property is offered at offers in excess of £155,000.

An automated online valuation obtained through OnTheMarket has previously indicated an estimated value of £213,000.

This represents a difference of approximately £58,000 between the advertised asking price and the automated valuation estimate.

The automated valuation is not a formal surveyor's valuation and should not be treated as confirmation of the property's current market value.

Purchasers are encouraged to undertake their own independent valuation enquiries and assess comparable completed sales, property condition and tenancy status when considering the asking price.

LOCATION AND LOCAL AMENITIES

The property is situated in The Courtyard, Craghead, close to Stanley in County Durham.

Stanley is an established residential town offering a range of shopping facilities, supermarkets, schools, healthcare services and everyday amenities.

The wider area provides access to Chester le Street, Durham and Newcastle upon Tyne, together with the surrounding North East road network.

The location may appeal to families seeking residential accommodation within an established community while retaining access to employment opportunities, educational facilities and regional amenities.

The combination of substantial family accommodation and access to local services may support the property's suitability for continued residential letting.

Prospective purchasers should independently confirm school catchment areas, transport services and commuting times where these are relevant to their investment decisions.

PROFESSIONAL PROPERTY MANAGEMENT

The property is currently managed by AMRP Relocations, an established property management business operating within the landlord and residential lettings sector.

For investors purchasing outside their immediate geographical area, the opportunity to retain an existing management arrangement may provide additional convenience.

Continued management services can be discussed separately and would be subject to the relevant terms and management charges.

The existing management relationship may also assist with communication and continuity during the transfer of ownership.

INVESTMENT SUMMARY

Property Type. Four bedroom residential investment property.

Tenure. Freehold.

Asking Price. Offers in excess of £155,000.

Current Monthly Rent. £695.

Current Annual Rent. £8,340.

Current Gross Rental Yield. Approximately 5.38 per cent.

Estimated Market Monthly Rent. £1,075.

Estimated Market Annual Rent. £12,900.

Potential Gross Rental Yield. Approximately 8.32 per cent.

Potential Additional Annual Rental Income. £4,560.

Tenancy. Established tenant in occupation since December 2018.

Property Management. Currently managed by AMRP Relocations.

Purchaser Sourcing Fee. £5,000.

The quoted yields are based on the advertised purchase price of £155,000 and exclude the purchaser sourcing fee, Stamp Duty Land Tax, legal fees, finance costs, management charges, maintenance, insurance, taxation and other expenditure.

Including the £5,000 sourcing fee, the current gross rental yield would be approximately 5.21 per cent, before other acquisition and operating costs.

WHY CONSIDER THIS INVESTMENT

This property offers an opportunity to acquire an established rental investment rather than starting with an empty property.

The existing tenant provides an established rental history and the potential for continuity of rental income following completion.

The four bedroom accommodation may appeal to families requiring additional space, while the property's location provides access to Stanley and the wider County Durham area.

The difference between the existing rental income and the estimated market rental value provides an opportunity for investors to investigate potential improvements in future rental performance.

The freehold tenure, substantial accommodation and existing management arrangements may also appeal to landlords looking for a longer term residential investment.

This property may be particularly suitable for investors who understand the benefits and responsibilities of acquiring a property with an existing tenant and who are prepared to undertake appropriate due diligence before purchasing.

ARRANGING A VIEWING

Interested investors are invited to contact the selling agent to discuss the property, request further information and arrange a viewing.

As the property is occupied, all appointments must be arranged in advance with appropriate notice to the tenant.

A purchaser sourcing fee of £5,000 applies in addition to the agreed purchase price. Full details of the fee and associated services are available upon request.

IMPORTANT INFORMATION

All property information, valuation estimates and rental projections are provided for guidance and should be independently verified.

The estimated market rent and potential rental yields are not guaranteed.

Purchasers should satisfy themselves regarding the property condition, tenancy documentation, current Energy Performance Certificate, gas and electrical safety records, financing arrangements and all other relevant matters before proceeding.

The property is being sold with the existing tenant remaining in occupation and is not offered with vacant possession.

Offers are invited in excess of £155,000.

An established four bedroom residential investment offering existing rental income, substantial family accommodation and potential future rental growth in County Durham.