Opportunity to purchase a property in Bishop Auckland generating £6,000 rent pa & gross yield of 7.5%
£80,000
Terraced House
VES-DL14-014
INITIAL INVESTMENT
£24,900
Based on
deposit: £20,000
stamp duty: £2,400
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£6,000
GROSS YIELD
7.5%
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
- Council tax band A
- 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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