The property is a former care home converted to provide 58 apartments, arranged as 15 studios, 42 one beds and 1 two bed. The block sits in a U-shaped layout around a courtyard with a shared private garden, landscaped areas, 13 on-site parking spaces and a secure bike store. It is of traditional masonry construction beneath a pitched tiled roof, over three floors with a uniform floorplate. Internally, the apartments provide modern, practical accommodation with fitted kitchens and good quality bathrooms.
- Ref: 2093862
- Tenure: Freehold
- Types: Residential Investment
- Freehold: £3,400,000
Key Features
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Freehold converted block of 58 apartments
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Shared private gardens, on-site parking and bike store
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Combination of studios, one-bed and two-bed apartments
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Refurbished in 2023
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98% of the apartments hold an EPC rating of 'C'
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Fully let producing a total gross income of £378,780 pa
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Estimated Rental Value (ERV) of £420,000 pa
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Reversionary and value-add asset management opportunity
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Guide price of £3,400,000 reflects 11.14% Gross Yield
Location
St Pauls Court Apartments, St Pauls Street, Stockton-On-Tees, Durham, TS19 0AB
St Paul's Court is located on St Paul's Street, a short walk from Stockton town centre, within an established residential area offering convenient access to a wide range of local amenities.
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