Excellent Development Opportunity

Located within the Annfield Plain area this ideal investment opportunity occupies a generous size corner block, comprises 12 bedsit units (HMO registered) some of which benefit from en suite. There are 3 communal bathrooms & 2 communal kitchen areas. There is a generous size communal lounge located to the ground floor. The bedsits all benefit from gas central heating and double glazing. 8 out of the 12 units are let at £100pw. There are also 2 commercial units one currently let at £360pcm as a Chinese takeaway with 5 years remaining on the lease the other let as a second hand furniture store at £70 per week. Passing rent £49,560 when fully let potential income is £70,380 per annum. Currently managed at £5,574 per annum manager willing to continue with new owners. IDEAL investment opportunity.

Tenure

See Legal Pack

Entrance

Hall; Communal Lounge: Double glazed window & radiator

Ground Floor Kitchen

Range of fitted units, double bowl sink, integrated electric oven & hob

Hallway

Stairs to first floor; Bedroom One Bedroom Two Bedroom Three Bedroom Four

First Floor Communal Bathroom

Shared by rooms 1-4, fitted 3 piece white suite

First Floor Kitchen

Shared by rooms 1-4, range of floor & wall units, stainless steel sink unit

Landing

Stairs to second floor; Bedroom Five Bedroom Six Bedroom Seven Bedroom Eight Bedroom Nine

Landing

Stairs to third floor; Bedroom Ten Bedroom Eleven Bedroom Twelve Communal Bathroom: Comprising 3 piece white suite

Chinese Takeaway

Currently has a 5 year lease. Shop front, hallway leading to cloakroom with WC & wash hand basin. Kitchen area all appliances within the kitchen are owned by the tenant.

Antique/Furniture Store

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Viewing

To view please call 0191 908 9691

Energy Efficiency Rating (EPC)

Current Rating TBC

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Durham County Council

Solicitors

Hodgson & Angus Solicitors, Hodgson & Angus Solicitors, 62 Front Street, Stanhope, DL13 2UD. Tel: 01388 528517 Ref: Ian Shuttleworth , Ref: Ian Shuttleworth , Tel: 01388 528517

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1200 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.