Residential Investment in Middlesbrough

Victoria Apartments, 56 Middlesbrough Road, Middlesbrough, TS6 6LZ

7,155 sq ft

Residential Investment Opportunity For Sale

Summary

Residential Investment Opportunity
Let on an FRI lease producing £66,000 per annum
Freehold block of 12 self-contained flats (Class C3)
26 Bedrooms
Approximately 7,155 sq ft (655 sq m)
Asking Price: Offers in the region of £700,000
Subject to Contract

Location

The subject property is located on the northern side of Middlesbrough Road in the South Bank area of Middlesbrough, in close proximity to Teesworks regeneration.

Middlesbrough is located in the North East of England and is a key urban centre in the Tees Valley region. Middlesbrough is a large town with industrial roots and is well know as a digital and creative hub within Tees Valley.

The property benefits with excellent transport connections due to south bank railway station being approximately 500 metres north of the property. South Bank railway station connects to Middlesbrough, Durham, Sunderland, and Newcastle upon Tyne. The property is located directly adjacent to the A66 offering access to the A1(M).

Nearby retail includes Greggs, Burger King, Taco Bell, Tesco and Asda.

Get directions from Google Maps

Mainline Stations

South Bank

6 mins
Middlesbrough

43 mins
James Cook University Hospital

43 mins
Marton

49 mins

Underground Station

Chesham

3862 mins
Broxbourne

3893 mins
Amersham

3904 mins
Chalfont and Latimer

3916 mins

Further Information

Price Offers in the region of £700,000

Rates Payable Upon Enquiry

EPC Rating This property has been graded as B

Description

The property comprises a three storey, freehold block of 12 self-contained flats offering 26 spacious bedrooms. The subject property was constructed in 2021 in replacement to the public house known as ‘The Victoria’. Each flat benefits from its own kitchen, lounge and shower room/bathroom to a modern specification. Also, each flat is independently metered.

Upon entry you are greeted by spacious hallway leading to a reception area, laundry room, three self-contained two bedroom flats, and the ground level of the two-storey flat four. The first floor comprises of the first floor of flat four and three self-contained two bedrooms flats. The second floor consists of two self-contained two bedrooms flats and one three bedroom flat. The third floor is the largest of the flats and made up of two large self-contained flats, a two bedroom and a three bedroom. Externally, to the rear the property has a yard area which includes a bike and bin store.

Terms

Offers are invited in the region of £700,000 for our client’s Freehold interest, subject to contract.

Please note our client reserves the right not to accept the highest or any offer received.

Tenancy

The property is let on a Full Repairing and Insuring Lease (FRI) producing £66,000 per annum. Lease term until March 2029. Operating as individual units under assured shorthold tenancy agreements.