The subject property is located on Craddock Street in the small town of Spennymoor, 15 miles north of the city of Darlington, 20 miles southwest of Sunderland and 25 miles south of Newcastle upon Tyne
The town has a regular public transport service linking the major towns within the area. In addition all amenities such as leisure centre, shops and major supermarkets are located within the town which is just a short 5 minute walk away
The A1 linking to the North and South is just 10 minutes away.
The subject property is a mid-terraced building of traditional brick construction with a tiled roof.
To the ground floor the accommodation comprises of a hallway leading to a the front reception. The reception room has UPVC window to the front aspect and leads to the dining room. The kitchen hosts an electric oven, fitted modern eye level and base units.
At first floor level, bedroom one has a UPVC double glazed window with front aspect views, Bedroom two has the benefit of a rear aspect facing UPVC double glazed window. The property also benefits from a 4 piece bathroom suite with separate walk in shower.
There is unrestricted on street parking to the front of the property.
Living Room: TBA
Kitchen / Dining room : TBA
Bedroom 1: TBA
Bedroom 2: TBA
We understand the property has mains gas, electricity, water and drainage.
The current rental income is £411 per calendar month on an AST basis (£4932 per annum) reflecting a gross yield of 14.95%.
The property is rated in Council Tax Band A. Council Tax payable (2015/2016) is £889.62
No VAT will be payable on the purchase price of the property.
Viewing by Appointment
To view this property, please contact John Pye Property – firstname.lastname@example.org – 0115 970 6060
15 Craddock Street
✓ Excellent Investment Opportunity
✓ Current rent (£4,932 pa)
✓ Current rent (£411 pcm)
✓ 12 month AST in place w.e.f 01/10/2015
✓ Yield of 14.95%
✓ Excellent transport links
✓ Requires minor refurbishment
✓ UPVC Double glazing
✓ Close to local amenities
Richard Reed, RICS
Phone: 0115 970 6060
Our Ref: PR017