Key features
- Residential investment portfolio
- 6 properties fully let on individual terms
- Popular Consett town centre location
- Passing rent of £36,240 per annum.
- Net initial yield of 4.74%
- 0.3 miles from Consett Bus Station
- 12.6 miles from Durham Train Station
- 0.3 miles from A692
- 11 miles from A1(M)
- 2.5 miles from A68
Description
LOCATION
The subject properties are located on Rosemary Court, Meadowsweet Court and Cardoon Road in Consett. The properties are all within close proximity to each other and are approximately 0.2 miles from Consett town centre.
Consett is a town in the north west of County Durham, approximately 14 miles south west of Newcastle upon Tyne and 13 miles north west of Durham.
Consett is accessed by the A692 and A694, both of which provide direct access to the A1(M) (11 miles to the north east) and the A694 links with the A68 (2.5 miles to the south west). The properties also benefit from being 0.3 miles from Consett Bus Station which provides public transport links to surrounding towns, villages and cities including Durham and Newcastle city centres.
DESCRIPTION
The portfolio comprises 6 residential dwellings that consist of a mixture of apartments, semi detached, detached and terraced houses and range from 2 to 4 bedrooms.
1 Rosemary Close is a 3 bedroom terraced house.
4 Rosemary Close is a 2 bedroom apartment with a garage.
3 Cardoon Road is a 3 bedroom semi-detached home with a garage.
7 Cardoon Road is a 3 bedroom semi-detached home with a garage
11 Cardoon Road is a 4 bedroom detached house with a garage.
7 Meadowsweet Close is a 3 bedroom detached house.
ACCOMMODATION AND TENANCY INFORMATION
Property |
Lease Terms |
Rent (PCM) |
Size (ft²) |
EPC Rating |
1 Rosemary Close, Consett |
Tenant in occupation for 12 years. Currently holding over |
£425 |
TBC |
Awaiting EPC Rating |
4 Rosemary Close, Consett |
6 month AST from 2nd October 2020 |
£425 |
592 |
C80 |
3 Cardoon Road, Consett |
Tenant in occupation for 11 years. Currently holding over |
£500 |
TBC |
Awaiting EPC Rating |
7 Cardoon Road, Consett |
Tenant in occupation for 8 years. Currently holding over |
£500 |
818 |
C71 |
11 Cardoon Road, Consett |
Tenant in occupation for almost 9 years. Currently holding over |
£575 |
TBC |
Awaiting EPC Rating |
7 Meadowsweet Close, Consett |
Tenant in occupation for 4 years. Currently holding over |
£595 |
TBC |
Awaiting EPC Rating |
|
Total |
£3,020 |
|
|
|
|
£36,240 per annum |
|
|
TERMS
The subject property is available by way of freehold with a guide price of £725,000 (Seven Hundred and Twenty Five Thousand Pounds).
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
VIEWING
For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley Hall.
Tel: 0191 232 8080
Email: [email protected]
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