Opportunity to purchase a freehold block of 5 apartments and a commercial unit in Saltburn-on-the-Sea
£180,000
5-unit Block & shop
VES-TS13-001
INITIAL INVESTMENT
£57,900
Based on
deposit: £45,000
stamp duty: £5,400
mortgage fees: £1,500
conveyancing fees: £6,000
GROSS RENT
£20,740
GROSS YIELD
11.5%
The block
TENURE
Freehold
NO OF UNITS
6
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
2,346
PRICE SQ FT
£77
Block information
- The block is made up of 6 units comprising:
- 4 x self-contained 1-bed apartments
- 1 x self-contained studio apartment
- 1 x commercial unit
- EPC ratings D & E
- Council tax bands D & E
Rental information
At the time of listing the commercial unit is tenanted and the flats are vacant
Once fully tenanted the block is expected to achieve:
- Flat 1 - £250 pcm
- Flat 2 - £250 pcm
- Flat 3 - £295 pcm
- Flat 4 - £250 pcm
- Flat 5 - £250 pcm
- Commercial unit - £433.33 pcm
- Total monthly rental income: £1,728.33
- Total annual rental income: £20,740
- Total gross yield: 11.5%
Location information
- The property is located in the Loftus area of Saltburn-by-the-Sea
- Saltburn city centre is 5 miles from the property
- Local amenities can be easily reached on foot
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 Saltburn-by-the-Sea, North Yorkshire
Saltburn-by-the-Sea is a seaside town in North Yorkshire and lies around 26 miles south-east of Hartlepool, 13 miles east of Middlesbrough and 41 miles north-west of Scarborough.
The A174 runs just south of Saltburn and connects it to Thornaby-on-Tees and Whitby.
Saltburn railway station lies on the Tees Valley Line which runs Northern Trains services between Bishop Auckland and Saltburn via Darlington. The station is located in the town centre.
One of the must-do things in Saltburn is a visit to its beautiful beach with long sandy shores and its Grade II* listed pier. The beach came third place in the The Times’ 30 best British beaches and also offers great opportunities for surfers, from beginners to professionals, with national surfing events held during the autumn and winter months.
Other things to see and do include Saltburn Cliff Tramway, Captain Cook & Staithes Heritage Centre, Lookwood Beck, Saltburn Miniature Railway and Saltburn Riding School.
The shops in Saltburn mainly consist of specialists shops where one can find antiques, furniture, fresh fish, bread, meats, antiques, jewellery, gift shops, clothing stores and many more.
Education in Saltburn is provided by the town’s Junior and Infant schools as well as Huntcliff School, the only secondary school in town.
West Road,
Loftus,
Saltburn-by-the-Sea,
Redcar and Cleveland,
England,
TS13 4RG
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