Stockton-on-Tees, TS19 0AB | Investment Property for Sale | VES-TS19-001

Opportunity to acquire an unbroken apartment block with freehold in Stockton-on-Tees

£4,490,000

58-unit Block

VES-TS19-001

INITIAL INVESTMENT

£1,316,700

Based on

deposit: £1,122,500

stamp duty: £134,700

mortgage fees: £1,500

conveyancing fees: £58,000

GROSS RENT

£296,700

GROSS YIELD

6.6%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

58

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

22,730

PRICE SQ FT

£198

Block information

  • Recently refurbished block with freehold
  • 58 brand new apartments arranged over 3 floors (ground to 2nd floor)
  • The block comprises:
    • 57 x 1-bed apartments (estimated average size of 390 sqft)
    • 1 x 2-bed apartment (estimated average size 500 sqft)
  • Each apartment comprises:
    • Fully fitted kitchen and appliances
    • Bedroom
    • Lounge
    • Bathroom
    • Storage space
  • Lift access to all floors
  • Communal laundry room
  • 13 external parking spaces
  • Well-maintained private residents garden
  • EPC ratings C & D

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2020

Rental information

  • The property is 75% let at the time of listing
  • It is expected that the property is 100% let by June 2021
  • Aggregate monthly rental income once fully let: £24,725
  • Aggregate annual rental income once fully let: £296,700

Available upon request

  • Block breakdown
  • Leasehold information per unit
  • EPCs for all units

Notes

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

The floorplan is an example of a 1-bed apartment in this development. Layout and sizes will vary.

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.

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 Stockton-on-Tees

Stockton-on-Tees is a market town in County Durham in the North East of England. It lies about 37 miles south of Newcastle-upon-Tyne and 66 miles north of Leeds.

Stockton is well connected via road on the TransPennine A66 and the A19. The A66 connects Stockton-on-Tees to Middlesbrough and Darlington, whilst the A19 connects it with York as well as Peterlee and Sunderland.

Stockton’s railway station is on the Durham Coast Line running trains from Newcastle-upon-Tyne to Middlesbrough via Sunderland and Hartlepool. Whilst Thornaby railway station, across the river, runs services on the Tees Valley Line and Durham Coast Line to Sunderland and Newcastle, Darlington and Saltburn. The TransPennine Express services go to York, Leeds, Manchester Piccadilly, Manchester Airport and Middlesbrough.

Set in the heart of the growing borough of Stockton-on-Tees, right in the centre of the thriving Tees Valley, the town is ideally placed to benefit from the growing population.

To the north, the town is bordered by the emerging residential developments at Victoria, an area being transformed into modern housing for older residents, alongside new development at Norton Glade and planned construction of 300 homes at Barratt’s Jubilee Gardens and by Thirteen Group at the Alma House site.

To the east, the River Tees plays host to a wide range of water sports and recreational activities with several rowing and boat clubs alongside an Olympic standard white-water course and high ropes course all within sight of the High Street. The river and the impressive Infinity Bridge also provide the backdrop for the successful and on-going £300m Northshore scheme creating sought-after new housing at Vivo alongside modern office space. The next phase of development in this area will see delivery of a new 128-bedroom Hampton by Hilton Hotel.

The town centre has already undergone a £38 million redevelopment to enhance the town’s public spaces and accessibility. The centre offers a variety of high street retailers, independent shops and services.

Across the river to the south, the Teesdale area is home to over 60 businesses, employing over 4,000 people as well as a significant student population at the new International Foundation College and Stockton Riverside College.

Saint Paul's Street,

Stockton-on-Tees,

Stockton-on-Tees,

England,

TS19 0AB

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