A fantastic buy-to-let opportunity all under one roof!

Ten FULLY REFURBISHED studio apartments situated within Bishop Auckland, County Durham offering a gross rental yield of 14.4% when fully occupied at £300pcm per apartment. Each apartment comprises living room with uPVC double glazed picture window plus a stylish modern fitted kitchen and shower room. The floor area of each flat is 323 sq ft. This Lot comprises Flats 14, ,15, 16, 17, 18 to the ground floor with Flats 24, 25, 26, 27,28 to the first floor directly above.

Tenure

Leasehold

Studio Apartment Layout

Entrance – Telephone entry system. Living Room – Skimmed walls and oak effect laminate flooring throughout. Electric storage heater. Partition wall separates lounge and bedroom area. Built-in double storage cupboard. uPVC double glazed picture window. Kitchen – Stylish fitted kitchen featuring a range of wall and base units with modern shaker style fascia doors. A stainless steel single bowl and drainer kitchen sink with mixer tap is inset to worktop with a tiled splash-back. Cooking facilities are provided for with a stainless steel built-in oven with matching electric hob and chimney hood. Shower Room / W.C – Modern white fitted suite comprising pedestal wash hand basin with mixer tap and W.C with push button cistern. Walk-in shower enclosure with electric shower. Extractor fan. Heated towel rail.

Tenure

Leasehold 125 yrs from January 2014 £200 ground rent per annum. £450 service charge per annum.

Location

Known as the gateway to Weardale, Bishop Auckland is a bustling market town in the Vale of Durham, 12 miles (19 km) northwest of Darlington and 12 miles (19 km) southwest of Durham at the confluence of the River Wear with itstributary the River Gaunless.The town is set for major developments in the next few years and Auckland Castle is currently significant work.

IMPORTANT NOTICE

Lots 31 and 32 will be offered initially as two separate lots and then as one combined lot. This is done by offering the separate lots as private auction lots which allows the highest bids to be parked, then the combined lot to be offered. Subject to the reserve being met, if the bid for the combined lot is equal or in excess of the individual lots, it will be sold to that bidder. Or if the total of the bids on the individual lots are the highest they will be sold in that way.

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

MS Law, 383 Bury New Road, Prestwich, Manchester, M25 1AW, Ref: Paul Gelder, Tel: 0161 772 4500

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.