Available
Barnard Castle – 3 Flats
Flats 1,2,4, 23 Horsemarket, Barnard Castle, County Durham DL12 8LXVirtual Freehold Grade II Listed Residential Investment
Price
£130,000
Rent P.A.
£10,920
Yield
ERV: £17,620 p.a.
Tenure
Leasehold
Area
1,634 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- ERV once fully let: £17,620 p.a. GIY: 13.55%
- Comprises 3 residential flats arranged over first and second floor
- Newly replaced roof and refurbished communal areas (£40,000)
- Town centre location with occupiers nearby including Morrisons, Costa Coffee, Specsavers, Co-Op Food, Boots, Hays Travel and more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises 3 residential flats (2 x 1-Bed & 1 x 2-Bed), arranged over first and second floor and accessed from the rear, providing the following accommodation and dimensions:
First Floor:
Flat 2 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Flat 4 - 73 sq m (786 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Second Floor:
Flat 1 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Total Residential GIA: 151 sq m (1,634 sq ft)
First Floor:
Flat 2 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Flat 4 - 73 sq m (786 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Second Floor:
Flat 1 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Total Residential GIA: 151 sq m (1,634 sq ft)
Tenancy Description
Flat 1 is at present let on Periodic Tenancy to an Individual at a current rent of £5,520 p.a. Deposit held of £530.
Flat 2 is at present let on Periodic Tenancy to an Individual at a current rent of £5,400 p.a. Deposit held of £450.
Flat 4 is at present vacant. ERV: £6,700 p.a.
Tenure:
Each property is held on a long leasehold, for a term of 999 Years from 3rd November 2025 at a ground rent of peppercorn.
Flat 2 is at present let on Periodic Tenancy to an Individual at a current rent of £5,400 p.a. Deposit held of £450.
Flat 4 is at present vacant. ERV: £6,700 p.a.
Tenure:
Each property is held on a long leasehold, for a term of 999 Years from 3rd November 2025 at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Barnard Castle is located just north of the A66, approximately 16 miles West of Darlington and draws on an extensive, wealthy hinterland. The popular Market Town is situated in North Yorkshire with an affluent residential population. The property occupies a prominent location in Horsemarket opposite Costa Coffee and Boyes Department Store and close to Coop, Heron Foods, Holland & Barrett, Boots, and more.
