Available
Stockton-on-Tees – Unbroken Block of 5 Apartments
140-144 Norton Road and 2-4 Ware Street, Norton, Stockton-on-Tees, Cleveland TS20 2BGVirtual Freehold Residential Investment
Price
£275,000
Rent P.A.
£23,140
Yield
8.41%
Tenure
Leasehold
Area
1,818 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises 5 self-contained flats arranged over first floor and attic
- Recently refurbished to a high standard
- 100% Occupancy
- Property benefits from communal area fire system and emergency lighting
- Located opposite large newbuild residential village and close to secondary school
- Within 0.5 miles to Stockton Train Station
- Occupiers nearby include takeaway shops, pharmacy, laundrette, tyre shop and others
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises 5 x 1-Bed Flats arranged over first floor and attic. Property has been recently refurbished to a high standard and benefits from communal area fire system and emergency lighting.
The property provides the following accommodation and dimensions:
Flat 1: 1 Bedroom, Kitchen/Living Room, Bathroom - 33 sq m (355 sq ft)
Flat 2: 1 Bedroom, Kitchen/Living Room, Bathroom - 27 sq m (290 sq ft)
Flat 3: 1 Bedroom, Kitchen/Living Room, Bathroom - 28 sq m (301 sq ft)
Flat 4: 1 Bedroom, Kitchen/Living Room, Bathroom - 24 sq m (258 sq ft)
Flat 5: 1 Bedroom, Kitchen/Living Room, Bathroom - 57 sq m (614 sq ft)
Total area size: 169 sq m (1,818 sq ft)
The property provides the following accommodation and dimensions:
Flat 1: 1 Bedroom, Kitchen/Living Room, Bathroom - 33 sq m (355 sq ft)
Flat 2: 1 Bedroom, Kitchen/Living Room, Bathroom - 27 sq m (290 sq ft)
Flat 3: 1 Bedroom, Kitchen/Living Room, Bathroom - 28 sq m (301 sq ft)
Flat 4: 1 Bedroom, Kitchen/Living Room, Bathroom - 24 sq m (258 sq ft)
Flat 5: 1 Bedroom, Kitchen/Living Room, Bathroom - 57 sq m (614 sq ft)
Total area size: 169 sq m (1,818 sq ft)
Tenancy Description
Flat 1 is let on AST to an Individual for a term of 6 Months from April 2021 at a current rent of £4,500 p.a. Deposit held of £432. Flat 2 is let on AST to an Individual for a term of 6 Months from June 2017 (Holding Over) at a current rent of £4,680 p.a. Flat 3 is let on AST to an Individual for a term of 12 Months from January 2020 (Holding Over) at a current rent of £4,420 p.a. Deposit held of £368. Flat 4 is let on AST to an Individual for a term of 6 Months from June 2020 (Holding Over) at a current rent of £4,500 p.a. Deposit held of £375. Flat 5 is let on AST to an Individual for a term of 6 Months from May 2020 (Holding Over) at a current rent of £5,040 p.a. Deposit held of £420.
Tenure:
To be held on a new 999 Year lease from completion with ground rent of peppercorn.
Tenure:
To be held on a new 999 Year lease from completion with ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Stockton-on-Tees is a market town in County Durham, England. The town has a population of 85,000, with a population of around 196,000 in the wider area, according to 2017 estimates by ONS UK.
