59 bed block of flats for sale

St. Pauls Court, Stockton-On-Tees, 0 TS19

A unique opportunity to purchase a complete freehold apartment block within the popular location of Stockton, consisting of 58 apartments with 100% occupancy. The apartment block currently achieves an annual rental income of £378,060 with a planned projected rise to £420,480.

St Pauls Court is brick built and arranged over ground and two upper floors beneath a pitched tiled roof. The property is arranged as 58 self-contained flats with 13 car parking spaces.

Specifications include:

• 58 apartments

• 57 One bed and 1 Two bed

• Parking spaces

Internally, there is a lift providing access to all floors and a communal laundry room. The flats benefit from a communal gas central heating system and electricity is individually metered. The windows are uPVC double glazed.

At the rear of the building is a private and secure garden for residents use. The garden has been well maintained. Stockton on Tees is a market town in County Durham in the North East of England. The town is 59 km (37 miles) south of Newcastle upon Tyne and 106 km (66 miles) north of Leeds. The town has a population of 105,682 (2011 Census). Stockton has a good bus service and the Stockton train station provides access to London in 3 hours 55 minutes. The town centre has undergone a £38 million redevelopment to enhance the town’s public spaces and accessibility. The centre offers a variety of high street retailers, independent shops and services.

Example : 1 Bed Apartment

Lounge

Generous sized living area with window to

front and radiator.

Kitchen

Fitted with a range of wall and base units

with complimentary working surfaces.

Stainless steel sink unit. Built in oven,

hob and extractor. Splash back tiling, and

sockets.

Bedroom

Window and radiator.

Bathroom

With modern white suite, panel bath with

shower above, pedestal hand wash basin,

low level WC, extractor fan.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

VAT is payable by the Buyer upon completion to their solicitor. This is to be paid in addition to the purchase price.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional