7 bed Flat For Sale £320,000
Park Place, Blackhill

This development was transformed by the current owners into individual apartments, providing modern and comfortable accommodation, offering a combination of 1-2 bedroom apartments.

Park Place Apartments is an ideal investment opportunity for individuals looking to start or expand their property portfolio. With multiple tenanted apartments already in place, this property offers an immediate and hassle-free way to start building a small portfolio.

The development features a gated entrance with private parking, providing convenience and security for residents and their vehicles.

With four apartments already occupied with sitting tenants, the current annual rental income is £25,500, making it a compelling option for investors seeking immediate returns.

The apartments are situated over two floors and consist of a large open plan 2 bedroom apartment with en-suite located on the third floor, spacious 2-bedroom apartment with en-suite, fully integrated kitchen and sperate lounge, ground floor 2 bedroom apartment with open plan kitchen/lounge and a 1 bedroom ground floor apartment.

There may be an option to purchase apartments individually by sperate negotiation.

Leasehold information:
Leasehold term: 99 years from 13 March 2007 (83 years remaining)

Tenancy information:
Properties are all currently in tenancy with an average rent of £550pcm.

Service charge* includes any communal repairs within apartment block, decorating, security access system, gardening, ground maintenance and building insurance.
*approx £70 per month

The apartments are located within walking distance of Blackhill & Consett Park and Consett town centre and offers a variety of local amenities all on the doorstep such as local shops, supermarkets, takeaways & gym. The area has great transport links to Durham and Newcastle.

Council Tax Band: A
Tenure: Leasehold (83 years)