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Branch Information

Darlington Branch
Blackwell Business Centre
Darlington
Co Durham
DL3 8QF

Tel: 01325 523756
Email: darlington@sillars.co.uk

Durham Branch
Portland House
Belmont Business Park
Durham
DH1 1TW

Tel: 0191 323 6652
Email: durham@sillars.co.uk

Tenancy Management Team
Blackwell Business Centre
Darlington
Co Durham
DL3 8QF

Tel: 01325 523756
Email: management@sillars.co.uk

 

Block Management Team
Blackwell Business Centre
Darlington
Co Durham
DL3 8QF

Tel: 01325 523756
Email: blocks@sillars.co.uk

Sold STC

Tower House, Tower Road, Darlington, DL3 6RW

£695,000Freehold

15108
BrochureMap

Key Information

Tenure:Freehold
Council tax band:Not available

Key Features

8 Self Contained Modern Apartments
Approx 9% Gross Rental Yield
Cockerton/West End Location
Eight freehold flats with monthly rental income approx ÂŁ5,150
Minimum Energy Efficiency Standards Exemptions In Place
OUTSTANDING INVESTMENT POTENTIAL
Off Street Parking for 8 Vehicles

Description

Exceptional freehold property with EIGHT modern apartments in Cockerton/West End. Generates ÂŁ5,150 monthly rental income with 9% gross yield. Off-street parking for 8 vehicles, communal garden, and energy efficiency exemptions. Ideal investment opportunity, viewing recommended.

***ENTIRE FREEHOLD PROPERTY COMPRISING 8 SELF CONTAINED FLATS***

Nestled in the sought-after Cockerton/West End location, this exceptional property boasts 8 self-contained modern apartments, presenting a lucrative investment opportunity for those astute investors seeking a lucrative return. With off-street parking for up to 8 vehicles, this eye-catching property provides convenience and accessibility for both tenants and visitors alike. The eight freehold flats generate an impressive monthly rental income of approximately ÂŁ5,150, resulting in an enticing approximate 9% gross rental yield. Moreover, with minimum energy efficiency standards exemptions already in place, this property is primed to offer not only excellent returns but also peace of mind to the discerning investor. Viewing is highly recommended to fully appreciate the outstanding investment potential that this property offers.

Stepping outside, the communal garden of this property extends a warm welcome, featuring a well-maintained lawned area to the front that adds a touch of greenery to the urban setting. A path runs along the side of the building, offering convenient access to each apartment and enhancing the overall functionality of the property. Furthermore, the large floodlit car park provides ample parking space, ensuring ease and convenience for tenants and their guests. Completing the outdoor space is a practical and essential bin store/shed, offering a solution to storage needs while maintaining the tidiness of the communal area. Whether considering the property for its investment potential or as a place to call home, this property promises a harmonious blend of modern comfort, convenience, and practicality in a desirable location that is sure to captivate all who visit.

Apartment 1
Located to the ground floor, private access from car park. One bedroom. EPC Rating F.
Tenanted - Rental Income ÂŁ550PCM

EPC MEES Exemption In Place.

Apartment 2
Located to the ground floor, private access from car park.
Two bedroom. EPC Rating F.
Currently vacant, due to come to rental market - Rent ÂŁ725 pcm.
EPC MEES Exemption In Place.

Apartment 3
Located to the ground floor. Two bedroom. EPC Rating E.
Let, rental income ÂŁ625 pcm.

Apartment 4
Located to the ground floor, private access from car park. Two bedroom. EPC Rating E. Tenanted, rental income ÂŁ595.

Apartment 5
Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income ÂŁ650.

Apartment 6
Located to the first floor. Two bedroom. EPC Rating G. Tenanted, rental income ÂŁ695.
EPC MEES Exemption In Place.

Apartment 7
Located to the first floor. Two bedroom. EPC Rating E. Vacant, expected rent income ÂŁ695 pcm.

Apartment 8
Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income ÂŁ650.

Arrange Viewing

Reid Street Primary School
(0.25 miles)
Good
Number of pupils: 381
Age Range: 4 - 11
Holy Family RC Primary School
(0.48 miles)
Good
Number of pupils: 197
Age Range: 4 - 11
Corporation Road Community Primary School
(0.5 miles)
Requires Improvement
Number of pupils: 257
Age Range: 3 - 11
Abbey Junior School
(0.58 miles)
Good
Number of pupils: 353
Age Range: 7 - 11
St Mary's Cockerton Church of England Primary School
(0.64 miles)
Number of pupils: 198
Age Range: 5 - 11
Mowden Infant School
(0.75 miles)
Good
Number of pupils: 236
Age Range: 5 - 7
Abbey Infants' School
(0.78 miles)
Number of pupils: 259
Age Range: 4 - 7
St Augustine's RC Primary School
(0.82 miles)
Number of pupils: 192
Age Range: 4 - 11
Rise Carr College
(0.84 miles)
Good
Number of pupils: 26
Age Range: 11 - 16
Carmel College
(0.85 miles)
Outstanding
Number of pupils: 1378
Age Range: 11 - 18

Payment Calculator

Mortgage

Estimated Monthly Mortgage Payment:
ÂŁ3,657 /mo.25 Years, 5% Interest
Loan
ÂŁ625,500
Total Repay
ÂŁ1,096,983

Stamp Duty

You’ll have to pay the stamp duty of:
ÂŁ22,250
0% up to ÂŁ250,000
5% between ÂŁ250,000 and ÂŁ925,000
Your effective stamp duty rate is 3.20%
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