33-35, Yarm Lane, STOCKTON-ON-TEES, Cleveland, TS18 3DT

Freehold Block of Five Flats
Fully Let Investment

Location:
The property lies in this mixed use area within the heart of Stockton-On- Tees and within walking distance of the varied shopping and recreational facilities available with the town centre. Durham University Queens Campus lies to the west with the University Hospital of North Tees to the north, both of which could enhance demand for rental property in the locality. The location is well served by public transport links that include local bus routes whilst Stockton rail station lies within less than 1 mile to the north.

Description:
This mid terrace building is arranged as five self-contained flats. The largest (Flat 1 ) is over ground and lower ground floors providing three bedroom accommodation whilst the other four flats are each one bedroomed selfcontained flats.

Accommodation/ Tenancy:
Flat 1
Self-Contained Split Level Flat Comprising: Three Bedrooms, Reception Room, Kitchen, Bathroom/wc
Tenancy: Let on an assured shorthold tenancy for 12 months from 12/05/2023
Rent PCM: £515.00
Equivalent Rent PA: £6,180

Flat 2
Self-Contained Flat Comprising: One Bedroom, Reception Room with open plan Kitchen, Bathroom/wc
Tenancy: Let on an assured shorthold tenancy for 6 months from 24/05/2020 (tenant holding over)
Rent PCM: £380.00
Equivalent Rent PA: £4,560

Flat 3
Self-Contained Flat Comprising: One Bedroom, Reception Room, Kitchen, Bathroom/wc
Tenancy: Let on an assured shorthold tenancy for 12 months from 14/07/2021 (tenant holding over)
Rent PCM: £365.00
Equivalent Rent PA: £4,380

Flat 4
Self-Contained Flat Comprising: One Bedroom, Reception Room, Kitchen, Bathroom/wc
Tenancy: Let on an assured shorthold tenancy for 3 years from 02/01/2022
Rent PCM: £350.00
Equivalent Rent PA: £4,200

Flat 5
Self-Contained Flat Comprising: One Bedroom, Reception Room with open plan Kitchen, Bathroom/wc
Tenancy: Let on an assured shorthold tenancy for 3 years from 09/09/2021
Rent PCM: £350.00
Equivalent Rent PA: £4,200

Total Current Rent Reserved
£23,520 per annum.

Note:
The auctioneers have been advised that Flats 2-5 have not received a rent increase in a number of years and therefore prospective purchasers may wish to explore the possibility of increasing these rents to be in line with the current rental values. Purchasers are deemed to have conducted their own research into this and must rely upon their own enquires.




Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.


1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.