North East, various postcodes | Investment Property for Sale | VES-SR8-002

Opportunity to purchase a ready-made portfolio generating £14,556 rent pa & gross yield of 10.5%

£138,700

3-unit Portfolio

VES-SR8-002

INITIAL INVESTMENT

£43,336

Based on

deposit: £34,675

stamp duty: £4,161

mortgage fees: £1,500

conveyancing fees: £3,000

GROSS RENT

£14,556

GROSS YIELD

10.5%

ADD TO FAVOURITES

The portfolio

TENURE

Freehold

NO OF UNITS

3

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

2,034

PRICE SQ FT

£68

Please note that this portfolio is for cash purchasers only due to the low value of the individual properties.

This is a unique opportunity to purchase a ready-made North East portfolio.

Portfolio information

  • Made up of 3 units comprising:
    • 1 x 2-bed freehold houses
    • 2 x 2-bed leasehold flats
  • The properties are spread over 2 towns as follows:
    • 1 x Peterlee
    • 2 x Blyth
  • EPC ratings D, E & F
  • 2 of the units are vacant at the time of listing and are undergoing refurbishment/decoration works
  • The vendor is in the process of referencing new tenants for these properties and is confident that all units will be tenanted within the next few weeks
  • Fully managed hands-off investment

Rental income

  • Social housing tenants with rents paid mostly via universal credit, therefore not reliant on private tenant wages in difficult times
  • Based on all units fully let:
    • Expected aggregate rental income pcm: £1,213
    • Expected aggregate rental income pa: £14,556
    • Expected aggregate rental yield: 10.5%

Available upon request

  • Portfolio breakdown
  • Leasehold information
  • EPCs for all units

Note

Please note that Vesta has not visited this property 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 Peterlee, Blyth and Hartlepool

Peterlee

Peterlee is a small town in County Durham and has economic and community ties with Sunderland, Hartlepool and Durham. The town lies 13.5 miles west of Durham, 13.5 miles south of Sunderland and approximately 24 miles south-east of Newcastle, making this an ideal commuter town.

Peterlee is set amongst a stunning local environment, built on rolling hills overlooking the Durham limestone coast to the east and is surrounded by rural farmland to the north, west and south. You can find some outstanding areas of natural beauty in Peterlee including the stunning Castle Eden Dene, the largest area of semi-natural woodland in north-east England.

There are many SME employers in Peterlee such as LEC Consultancy, Business Durham, Eden Farm, Goodfellow & Goodfellow Ltd, Nalco and Peterlee Glass.

Blyth

Blyth is a port town in south-east Northumberland and lies approximately 13 miles north-east of Newcastle upon Tyne and 16 miles north of Sunderland.

The nearest train station is 5 miles away in Cramlington, which is on the East Coast Main Line and is operated by Northern Trains. Services run to Morpeth and Carlisle via Newcastle Central. At peak times some trains continue to Chathill.

Blyth port handles over 1.5m tonnes of cargo each year operating shipping services to the Netherlands and thus connecting it to Germany, Belgium, the Netherlands and Luxembourg.

The local attractions include the popular South Beach with its brightly coloured beach huts, the Phoenix Theatre, the High Light Lighthouse and Blyth Battery, a military and local heritage museum.

Hartlepool

Hartlepool is a port town in County Durham and lies on the North Sea cost. It is around 8 miles north of Middlesbrough and 20 miles south of Sunderland.

There are two primary roads that serve the town, the A179, which leads to Durham, Sunderland and Tyneside and the A689, which leads to Billingham, Stockton, Middlesbrough and York.

The town is served by two railway stations, Hartlepool and Seaton Carew. Both are on the Durham Coast Line with trains going to Sunderland, Newcastle and Middlesbrough. Hartlepool also has a direct rail link to London King’s Cross from Sunderland, with trains taking around three and a half hours.

Hartlepool port is a hub for renewable energy, oil and gas activity, being one of the UK’s closest ports to active offshore projects. Parts of the port were converted into a marina which can accommodate 500 vessels and is home to a variety of pleasure and working crafts. Hartlepool also has a permanent RNLI lifeboat station.

Some of the local attractions include the National Museum of the Royal Navy Hartlepool, Hartlepool Qluay, Heugh Battery Museum, Seaton Carew beach, Museum of Hartlepool and Summerhill Country Park and Outdoor Activities Centre.

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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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