Block of flats for sale in Kingsway, Bishop Auckland DL14
£805,000 (£189/sq. ft)
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- Conversion of Grade II listed building
- 5 unit block; expected to complete in Sep 2020
- Consisting of: 4 x 2-bed & 1 x 1-bed apartment
- Expected annual rental income £28,800
- Expected gross rental yield 3.6%
This is an investment opportunity to purchase a 5-unit block in Bishop Auckland with the potential to generate £28,800 gross rent pa.
Conversion of a Grade II listed building from office/community accommodation into:
4 x 2-bed apartments
1 x 1-bed apartment
The property is being converted and renovated to a high standard with a full back to brick conversion and a new roof
There will be 6 designated parking spaces
Completion and sign-off expected by the end of September 2020
The units are estimated to achieve £400 - £500 rent pcm each
The photos shown are of the works in progress and are not of the finished property
Please note that the rental amounts are estimates only and are subject to change.
Unit 1 - 2-bed - 83 sqm - erv £500 pcm
Unit 2 - 2-bed - 88 sqm - erv £500 pcm
Unit 3 - 1-bed - 60 sqm - erv £400 pcm
Unit 4 - 2-bed - 81 sqm - erv £500 pcm
Unit 5 - 2-bed - 83 sqm - erv £500 pcm
Total estimated rental income pcm: £2,400
Total estimated rental income pa: £28,800
The property is located near the town centre of Bishop Auckland.
Bishop Auckland railway station is around half a mile from the property and can easily be reached on foot or by car.
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Vesta Property, and do not constitute property particulars. Please contact Vesta Property for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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