Bishop Auckland, DL14 6BL | Investment Property for Sale | VES-DL14-010

Opportunity to purchase a property in Bishop Auckland generating £6,000 rent pa & gross yield of 7.9%

£76,000

Terraced House

VES-DL14-010

INITIAL INVESTMENT

£23,780

Based on

deposit: £19,000

stamp duty: £2,280

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£6,000

GROSS YIELD

7.9%

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The property

TENANCY

Tenanted

TENURE

Freehold

3 bedrooms

1 bathroom

1 reception room

829

Unfurnished

Property information

  • Spread over 2 floors
  • Lounge
  • Dining room
  • Kitchen with access to the rear garden
  • 3 good size bedrooms on the first floor
  • Family-size bathroom
  • Gas central heating and double glazing
  • EPC rating D
  • Monthly rental income £500

Location information

  • The property is located around 1 mile from the city centre
  • The city centre can easily be reached on foot in a 20-minute walk
  • Bishop Auckland railway station is 0.6 miles from the property
  • Easy access to the A688 and wider area

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Bishop Auckland

Bishop Auckland is a market town in County Durham in north-east England. It lies around 12 miles north-west of Darlington, 12 miles south-west of Durham and 5 miles south-east of Crook.

The A1(M) is around 8 miles away and connects it to London and Edinburgh. Bishop Auckland railway station is at the end of the Tees Valley line and runs hourly services to Darlington, Middlesbrough and Saltburn and also stops at Teesside International Airport. The airport is just east of Darlington town around 19 miles away. It is one of the UK’s smaller airport and offers flights to seven domestic and five European destinations.

Some of the local attractions include Auckland castle, Binchester Roman fort, Bishop Auckland town hall, Auckland castle deer house, Brancepeth castle, Whitworth park and Low Barns nature reserve and visitor centre. Every April the Bishop Auckland Food Festival takes place in the castle grounds, whilst Kynren tells the epic tale of England and performances take place over several weeks and are also set in the Auckland castle grounds.

Bishop Auckland’s location also offers great opportunities for walking and cycling. There are several short and long walking trails in and around the town as well as cycling routes, some of which go off-road.

In the local high street a number of well-known brands can be found whilst boutiques and specialist shops can be found in Bondgate. In 2019 it was reported that Bishop Auckland was designated to receive up to £25 million in funding from a new Towns Fund which will help to regenerate the town center area.

After the closure of the Durham coal mines the local economy is predominantly centred around manufacturing and engineering, tourism and leisure, construction and real estate, and retail.

Arthur Terrace,

Bishop Auckland,

County Durham,

England,

DL14 6BL

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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