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Barrington Terrace, DL17 8NW - 10% Rental Yield

£69500.00

 

Barrington Terrace, DL17 8NW - 10% Rental Yield

£69500.00

Refurbished  3- Bedroom Mid-terrace House with the option of a Private Let or Let to Supported Housing Company on a 6-Year Lease.

Property Details

  • The property is freehold.
  • The property briefly comprises of entrance to Lounge, Dining Area, Kitchen and Bathroom.
    Stairs to landing with 3 Bedrooms.
  • EPC Rating currently a D 
  • Property will be re-decorated 
  • Property will have new carpets
  • Can be used as a private let through our trusted local lettings agents for £575pcm 
  • Can be let on a 6 year lease as supported accomodation for £575pcm guaranteed rental for 6 years (additional charges apply)

Property Information Pack

 

Rental figures

This property will be let at £575.00 pcm either as a private let or on a 6 yr lease to a Supported Living Company which is £6,900 per annum, which gives a yield of between 9% and 10% depending on which letting option you choose. 


The Benefits of 6 Year Lease with the Supported Housing Company

• 6 years Guaranteed Rent as per terms of the agreement

• They pay the council tax and gas / electric throughout the period

• Property returned in same condition as given except fair wear and tear

• They normally take out another lease at the end of the first one.

• Tenants are well supported and visited regularly and the property has full CTV which is monitored 24 hours per day in every house, in every room except for the bathroom. 

• They have their own maintenance managers who deal with most issues

Additional Works for the Supported Housing Company and Costs

The Supported Housing Company need additional work on top of our usual refurb, which is detailed below.  The cost for additional work for 6 year lease option is £10,500.  

•Fire Doors & Smoke Detectors in every room
•Oven, Hob and Heat Detector in Kitchen
•Emergency Lighting in every room
•Power in the loft and Additional Power sockets at ceiling level for every room
•Digital Locks on Bedrooms Doors & additional security on Front and back doors

Refurbishment Work

We will ensure that this property is to a minimum of the Durham Decent Homes Standard  and also to the current Selective licensing conditions (durham.gov.uk) and as part of the sale we will also provide a warranty to cover any snagging issues on these items free of charge within your first 6 months of ownership.

To find out more please click on the following link - Refurbishment Work. 

Location

Ferryhill is a great area for rental properties and for first time buyers.  
 

LINK TO GOOGLE MAPS 

To find out more please click on the following link - High Yield Locations in County Durham

 

 

or call: 

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