Opportunity to purchase a 39-unit block in Darlington generating £223,100 rent pa & gross yield of 6%
£3,700,000
39-unit Block
VES-DL1-003
INITIAL INVESTMENT
£1,076,500
Based on
deposit: £925,000
stamp duty: £111,000
mortgage fees: £1,500
conveyancing fees: £39,000
GROSS RENT
£223,100
GROSS YIELD
6.0%
The block
TENURE
Freehold
NO OF UNITS
39
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
14,217
PRICE SQ FT
£260
Block information
- Commercial to residential conversion
- Spread over four floors (ground to third floor)
- The block comprises:
- 38 x 1-bed apartments
- 1 x 2-bed apartment
- Each apartment comes with:
- lounge/kitchen/bedroom
- bathroom
- EPC ratings C, D & E
- Council tax band: tbc
Rental information
- The block is fully let, generating:
- Aggregate monthly rental income: £18,591.66
- Aggregate annual rental income: £223,099.92
Available upon request
- EPCs for all units
- Block breakdown
- Full floorplans
Location information
- The property is located just on the edge of Darlington town centre
- All local amenities are just a short walk away
- Darlington railway station is a 1-minute walk away
- Easy access to the A167
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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Floorplans
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.
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About Darlington, Durham
Darlington is a large town of the county of Durham in north-east England. Darlington is 15 miles west of Middlesbrough and 20 miles south of Durham.
Darlington Railway Station has a regular service southbound to London’s King Cross via York and northbound towards Newcastle and Edinburgh Waverley. These services run twice an hour in each direction. This station also runs a two train per hour cross-country services via the TransPennine Express, that goes from Newcastle to Birmingham and beyond.
Shopping in Darlington offers over 100 brand names as well as several independent stores, which are spread across the Cornmill Shopping Centre, Queen Street Shopping Centre and the surrounding area.
Many large employers run their nationwide operations from Darlington, and therefore there is a wide array of job opportunities. The largest sector employer in the region is EE, employing over 2,500 in the area. Other big employers include Students Loan Company, AMEC and Argos’s largest distribution warehouse.
Victoria Road,
Darlington,
Darlington,
England,
DL1 5JJ
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