18 bed property for sale

High Northgate, Darlington DL1

An amazing opportunity to acquire this large 18 bedroom property situated in a popular and convenient residential location.

Operating as a fully licensed HMO exclusively for males over the age of 35, and with long established working relationships with a number of local councils and charities, this is the only property of its type in the local area, serving a much needed function. Not only does the building benefit from outstanding occupancy, but it is sold as a going concern at, or near, full occupancy.

The property generates around £88,920 per annum and would represent an ideal purchase for an investor, with a current yield near 20% and each room achieving around £95 per week.

The current owners have agreements in place to cover day to day on site and administrative management, maintenance and cleaning of the property.

The property has been well maintained and features 18 bedrooms, 4 bathrooms and an additional WC, a 5 star kitchen (operated externally), laundry room, 2 large communal areas and parking to rear.

Situated in a residential area on a main road with easy access to bus and rail transport links and within walking distance of the town centre, doctors, hospitals and local amenities.

The area has recently benefited from major investment associated with the local rail heritage, and the property overlooks the Stephenson Bridge to the rear and the Hopetown Railway Museum to the front. In addition Darlington itself has benefited from investment through the relocation of government departments to the town.

Property Ownership Information

Tenure

Freehold

Council Tax Band

E

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as "draft". Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.