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Sold STC

Tower House, Tower Road, Darlington, DL3 6RW

Guide Price £599,000Freehold

15108
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Key Information

Tenure:Freehold
Council tax band:Not available
Broadband:up to 9000Mbps
Mobile signal:*Based on indoor data coverage
EEO2ThreeVodafone

Key Features

Eight freehold flats with monthly rental income approx £4,200
For Sale by Auction – T & C’s apply
Buyers fees apply
The Modern Method of Auction
Priced to Sell
Fixed Timescales for Exchange and Completion
8 Self Contained Modern Apartments
Cockerton/West End Location
Off Street Parking for 8 Vehicles

Description

***ENTIRE FREEHOLD PROPERTY - 8 SELF CONTAINED FLATS*** Exceptional investment opportunity. Modern apartments with prime location. Online auction. Diverse options and immense rental potential. Off-street parking for 8 vehicles. Communal outside space. Floodlit car park. Bin store/shed. Don't miss out!

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

Presenting an exceptional investment opportunity, this freehold property comprises eight self-contained modern apartments, nestled in the highly sought-after Cockerton/West End location. With an array of amenities and transport links nearby, this prime location offers convenience and desirability for both residents and potential tenants.

For Sale by Auction, this property is subject to reserve price and buyers fees apply. Utilising the Modern Method of Auction, prospective buyers have the convenience of online bidding, ensuring a streamlined and efficient process. Priced to sell, this property offers fantastic value for investors looking to expand their portfolio.

Comprising seven two-bedroom flats and one spacious one-bedroom apartment, this freehold property offers diverse options and immense rental potential. Each apartment boasts contemporary finishes, with light-filled living spaces and modern kitchens. Boasting a prime location adjacent to a locally renowned Victorian Clock Tower, this property combines historical charm with modern comfort.

With off-street parking available for up to eight vehicles, tenants and residents can enjoy the ease of access and convenience. This ample parking space is a rare find in such a desirable location, ensuring peace of mind and hassle-free parking for all residents.

Outside space:
Completing this exceptional property is the ample outside space, designed for communal use. The front of the property features a well-maintained lawned area, perfect for residents to relax and unwind in a tranquil setting. A path lines the side of the building, providing easy access to each apartment and enhancing the convenience of every-day living.

Furthermore, this property boasts a large floodlit car park, ensuring safe and secure parking for tenants and visitors. With parking spaces at a premium in this bustling neighbourhood, the availability of this sizeable car park sets this property apart from the rest. Residents can enjoy the freedom of hassle-free parking in the comfort of their own home.

Completing the outside space is a practical and convenient bin store/shed. This essential feature allows for organised waste management, ensuring a tidy and efficient living environment for all residents. With attention to detail and practicality in mind, this property offers the perfect combination of stylish living spaces and thoughtful outdoor amenities.

In conclusion, this impressive freehold property comprising eight modern apartments in the coveted Cockerton/West End location is an unparalleled investment opportunity. With its prime location, desirable parking facilities, and contemporary interiors, this property offers endless possibilities for investors seeking a lucrative venture in the thriving property market. Don't miss your chance to acquire this exceptional property and secure a promising future.

Apartment 1
Located to the ground floor, private access from car park. One bedroom. EPC Rating F.
Currently vacant, expected rental income £475PCM.
EPC rental exemption currently in the process of being applied for.

Apartment 2
Located to the ground floor, private access from car park. Two bedroom. EPC Rating F. Currently tenanted, long term tenant. Rental income £475 pcm. EPC rental exemption currently in the process of being applied for

Apartment 3
Located to the ground floor. Two bedroom. EPC Rating E. Let, rental income £550 pcm.

Apartment 4
Located to the ground floor, private access from car park. Two bedroom. EPC Rating E. Tenanted, rental income £575.

Apartment 5
Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income £650.

Apartment 6
Located to the first floor. Two bedroom. EPC Rating G. Tenanted, rental income £400.
EPC rental exemption currently in the process of being applied for

Apartment 7
Located to the first floor. Two bedroom. EPC Rating E. Vacant, expected rent income £575 pcm.

Apartment 8
Located to the first floor. Two bedroom. EPC Rating E. Tenanted, rental income £530.

Auctioneer's Comments
This property is for sale under traditional auction terms and should you view, offer or bid on the property, your information will be shared with the
Auctioneer, iamsold Limited.

With this auction method, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from
the date of exchange of contracts. On exchange of contracts, the buyer is required to make payment of a 10% deposit, sign a reservation agreement
and make payment of a non-refundable Reservation Fee of 4.2% of the final agreed sale price including VAT.

Auctioneer's Comments Part 2
This is subject to a minimum payment of £6,000 inc VAT and is paid in addition to the agreed purchase price. The Reservation Fee will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. The Reservation Fee is paid in addition to the final negotiated selling price. The Reservation Fee will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

Auctioneer's Comments Part 3
This property is marketed with a Buyers Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property and a prudent buyer is expected to view the property and complete their own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained with this pack. The winning buyer will also make payment of £300 inc VAT towards the preparation cost of the pack, where it has been provided by iamsold.

Bidders will be required to register and go through an identification verification process with iamsold Limited and provide proof of how the purchase
would be funded.

Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting
bid and reserve price can be subject to change.

Referral Arrangement
Referral Arrangements

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will benefit you; you are under no obligation to use any of these services and you should always consider your options before services are accepted.

Where services are accepted, please be aware that the Auction Coordinator or Partner Agent may receive payment for the recommendation. Where
this is the case, the Partner Agent and Auctioneer will inform you of any referral arrangements and any payment they will receive, prior to any services being taken by you.

Arrange Viewing

Marketed by

Connah Muckley

Senior Property Consultant
Connah Muckley
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:
£3,152 /mo.25 Years, 5% Interest
Loan
£539,100
Total Repay
£945,457

Stamp Duty

You’ll have to pay the stamp duty of:
£17,450
0% up to £250,000
5% between £250,000 and £925,000
Your effective stamp duty rate is 2.91%
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