Grange Road, Darlington

OPPORTUNITY
Bradley Hall is delighted to be appointed to market this residential investment opportunity comprising 7no. ground, first and second floor flats. 3no. One bedroom and 4no. two bedroom flats.

LOCATION
Grange House, Grange Road, Darlington, DL1 5NB is centrally located in Darlington, a town within the county of Durham, known for its railway heritage. This area benefits from excellent transport links, with the A66 and A1 roads nearby and the train station within walking distance. Additionally, this property benefits from being in close proximity to the town centre providing a strong tenant demand.

INVESTMENT DETAILS
The subject property is a detached, brick, three-storey residential building built before 1900’s. The site also benefits from 7 off-street car parking spaces for the tenants. The passing rent is £50,400 per annum, however, there is an opportunity to add value with proactive asset management.

ACCOMMODATION
Property Rent Floor area (sq ft)
Grange House, Flat 1 £6,600.00 452
Grange House, Flat 2 £7,800.00 538
Grange House, Flat 3 £7,500.00 775
Grange House, Flat 4 £6,000.00 452
Grange House, Flat 5 £8,100.00 570
Grange House, Flat 6 £7,500.00 767
Grange House, Flat 7 £6,900.00 646
Total £50,400.00 4,200 sq ft

TERMS
We are instructed to invite offers in the region of £645,000 for our client’s Freehold interest which equates to a gross yield of 7.81% on the passing rent.