Block of flats for sale

Horsemarket, Barnard Castle DL12

Investment Consideration:
Rental Income: £10,920 p.a. + 1 Vacant Flat
erv once fully let: £17,620 p.a. Giy: 13.55%
VAT is not applicable to this property
Comprises 3 residential flats arranged over first and second floor
Newly replaced roof and refurbished communal areas (£40,000)
Town centre location with occupiers nearby including Morrisons, Costa Coffee, Specsavers, Co-Op Food, Boots, Hays Travel and more.

Property Description:
Comprises 3 residential flats (2 x 1-Bed & 1 x 2-Bed), arranged over first and second floor and accessed from the rear, providing the following accommodation and dimensions:
First Floor:
Flat 2 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Flat 4 - 73 sq m (786 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Second Floor:
Flat 1 - 39 sq m (424 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Total Residential gia: 151 sq m (1,634 sq ft)

Tenancy:
Flat 1 is at present let on Periodic Tenancy to an Individual at a current rent of £5,520 p.a. Deposit held of £530.
Flat 2 is at present let on Periodic Tenancy to an Individual at a current rent of £5,400 p.a. Deposit held of £450.
Flat 4 is at present vacant. Erv: £6,700 p.a.

Tenure:
Each property is held on a long leasehold, for a term of 999 Years from 3rd November 2025 at a ground rent of peppercorn.

Location:
Barnard Castle is located just north of the A66, approximately 16 miles West of Darlington and draws on an extensive, wealthy hinterland. The popular Market Town is situated in North Yorkshire with an affluent residential population. The property occupies a prominent location in Horsemarket opposite Costa Coffee and Boyes Department Store and close to Coop, Heron Foods, Holland & Barrett, Boots, and more.