10 bed Flat For Sale £975,000
Park Place, Blackhill

A full block of 14 Apartments, available to Buy-To-Let Investors.

Upon purchase, you would own every apartment within the block, in addition to the site freehold. You do not want to miss this opportunity!

Park Place is an apartment block situated in the heart of Blackhill, walking distance from Blackhill & Consett Park 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.

The imposing Victorian building which was built in 1876, was designed by Richard Murray, and then redeveloped in 2006.

They offer 14, 1 and 2-bedroom, apartments on the doorstep of the Derwent Valley.

The apartments are bright and spacious with high ceilings and as standard offer a beautiful finish.

The properties include modern Birchwood range kitchens featuring integrated appliances. Bathrooms were updated with practical Alto range bathroom suites and ceramic tiling. All apartments without an en suite have an over-bath shower.

Externally the property is accessed via electric gates and has private parking for residents.

The properties available are as follows:

No.1, is a large 2 bedroom penthouse with an en-suite at approximately 950 square foot.
No.2,is a large 2 bedroom penthouse at approximately 860 square foot.
No.3, 7 and 11, are 2 bedroom apartments with en-suites at approximately 800 square foot.
No.4, 8 and 12, are 2 bedroom apartments with en-suites at approximately 750 square foot.
No.5, 9 and 14, are 2 bedroom open-plan apartments at approximately 700 square foot.
No.6, 10 and 15, are 1 bedroom apartments at approximately 650 square foot.

We believe an average rent of £575.00 PCM would be achievable, meaning that you could look to bring in £96.6K annually in rent.

All of the properties are currently tenanted and would be sold with the tenants in situ.

Please also note that upon the purchase of the property, you would also own the freehold for the site.

Harrington Brown has not had sight of all of the tenancy agreements to confirm each individual tenancy details however have been informed that all of the properties are currently tenanted, with the majority of the tenancies on a contractual periodic (rolling) tenancy with the exception of two properties, which are on fixed Assured Shorthold Tenancies until April and May 2024.

Viewings are to be arranged with Harrington Brown. Please call the office today to schedule your appointment to view or for any further email.

(Please note that we are instructed by multiple vendors in this transaction, and each unit is under it's own title, therefore will entail 14 separate transactions)

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