Bishop Auckland, DL14 | Investment Property for Sale | VES-DL14-004

Opportunity to purchase a 5-unit portfolio in Bishop Auckland generating £28,740 rent pa

£515,500

5 unit Portfolio

VES-DL14-004

INITIAL INVESTMENT

£150,840

Based on

deposit: £128,875

stamp duty: £15,465

mortgage fees: £1,500

conveyancing fees: £5,000

GROSS RENT

£28,740

GROSS YIELD

5.6%

ADD TO FAVOURITES

The portfolio

TENURE

Freehold

NO OF UNITS

5

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

5,038

PRICE SQ FT

£102

Portfolio information

  • Fully tenanted investment portfolio
  • Consisting of:
    • 5 x 3-bed terraced houses
  • All properties come with:
    • 3 x bedrooms
    • kitchen
    • dining area
    • lounge
    • 1 x bathroom
    • gas central heating and double glazing
  • 3 of 5 properties have recently undergone a full refurbishment
  • 1 property has had a double-storey extension to the rear and comes with a garage and garden
  • 1 property comes with its own driveway and a small garden
  • 1 property comes with parking to the rear
  • EPC ratings C, D & E

Rental income

  • Fully let
  • A number of tenants have been in situ for a number of years
  • Aggregate rental income pcm: £2,395
  • Aggregate rental income pa: £28,740

Available upon request

  • Portfolio breakdown
  • EPCs for all units

Note

Please note that Vesta has not visited these properties and that all material has been provided by the vendor.

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.

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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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