A Multi Unit Investment Parsons House

Presenting: A Multi Unit Investment Parsons House, Parsons Road, Albany Washington, Tyne-and-Wear, NE37 1EZ.  

 

A BRAND NEW High-Quality residential block of 40 Apartments. Arranged over 5 floors.

With 67 Parking spaces.

 

Headline open market Value, £5,745,000

Available for sale by auction at £5M Plus

Gross Rental Income. Currently produced by A.S.T’s £343,980

Our Developer Client will consider sensible offers we are advised. For the sale of the Freehold block with vacant possession.

The Vendor would prefer to sell the block as a whole. Or alternatively to pass over to a well-established operator to take a long lease on the asset.

A truly unique opportunity to buy this freehold 40-unit apartment block.

Located North East of the City of Sunderland, UK.

Ideal for overseas investors looking for exposure to the UK private rented sector.

 

Asset Summary, Freehold apartment block

Comprising of 40 units (36 x 2 bed, 3 x 1 bed, 1 studio)

All flats finished to a high specification including integrated white goods

Long term Gross yield set in excess of 6%

Asset Management Opportunity to retain as an income-producing asset or break up and sell on.

 

The Block. Position

The property is easily located just west of the A194 Washington highway and by using our What three words system and searching for grace.club.adding .

The residents of the property reap significant benefits from

Albany Village Primary School is just half a mile.

The Washington Academy is 1.5 Miles

The Galleries Shopping centre is 1.6 Miles

Sunderland City 7 miles East

Newcastle upon Tyne is just 9 miles North.

The British Volts factory. (Expected to become the epicentre of British electric car battery Production) Just 21 miles or 30 minutes to the North.

 

The City

As noted above. Sunderland is home to a number of booming and innovative industries including engineering, advanced manufacturing, digital, technology, aerospace and more. The UK’s biggest car manufacturing plant is based in the city, and Sunderland is a European centre for electric vehicle research and production.

The ‘can do’ hard-working attitude of the local workforce attracts talent from the UK and across the world,  as well as some of the world’s biggest brands who’ve laid  down roots in the city.

 

Location

The property is located on Parsons Road, Washington, Sunderland. The property is located approximately 0.5 miles to the northwest of Washington town centre and within 400m of the A194(M) motorway which in turn links with the A1(M) and Tyne tunnel. The A19 is also readily accessible and lies approximately 2 miles to the East. The property is conveniently located next to transport links, shopping outlets, schools, parks and healthcare.

Newcastle is 9 Miles

Manchester 3 hours by train

Glasgow 3 hours by train

London 3 hours 30 minutes

 

Specifications
10-Year structural warranty

Gated development

Electric vehicle charging points.

Integrated appliances throughout

Fibre optic internet ready

Lift access to all floors

Dedicated Parking spaces

 

Full details are available in our Data Room

For sale under Auction contract.

Buyer’s Premium

The purchaser shall pay a 10% deposit. Plus, In addition, a buyer’s premium of 2% of the sale price + VAT upon the exchange of the contract.

When registering to bid with us we will require 2 forms of ID (Passport, Driving Licence) to fit in line with the Anti-Money Laundering Act.

Basic Facts

Date added: 11/12/23 Post Updated: 2024-02-19 15:17:47 Type: Status:

Features

1 x Studio
3 x 1 Bed Apartment's
36 x 2 Bed Apartment's
5 Floors
67 Car Parking Spaces
A Multi Unit Property Investment
Freehold Investment
Gross Income £344000

View on map / Neighborhood

This style property is located in Washington is currently and has been listed on NALC Auctions. This property is listed at £ 5,000,000. It has bedrooms, bathrooms, and is . The property was built in year.