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2 bedroom apartment
Key information
Property description & features
- Tenure: Freehold
- Excellent Buy & Lease Back Opportunity
- Zero Voids
- 5 Years Guaranteed Rent
- Zero Management Fees
- A Complex Of Newly Built 1 & 2 Bedroom Apartments
- 10 Years Warranty
- Net Yield 7%.
- In An Area of Mass Regeneration
- Fully Furnished
- Close to the Treasury HQ
Horizon Sales & Lettings are pleased to present this excellent OPTIONAL Buy & Lease Back Opportunity with Guaranteed Rents. Net yield 7%.
A complex of newly built 1 & 2 bedroom apartments which will appeal to hands off investors as they are being sold with a full 5-year management lease in place.
Ground rent and service charge is £1,300,00 / year. ( Not applicable if the 5 year lease is taken )
During the 5-year lease there will be no rental voids and no maintenance costs. There is an option to extend the lease at the end of the 5-year term with a market rent review.
Northgate House is being developed with investors in mind. Each apartment is to be finished to the highest specification with a full furniture pack and will appeal to professionals and working tenants.
A high end business centre is planned for the ground floor unit.
Located in Darlington Town Centre the area as a whole is undergoing significant regeneration. Darlington Council are promoting the area with £22m of Government funded investment earmarked. The Treasury and Blue Chip companies such as Amazon are now establishing a large presence in Darlington with thousands of jobs created.
Northgate House is walking distance from the Town Centre and the mainline train station. The A1 motorway and A66 are easily accessible which gives access to multiple transport routes.
Apartments are being sold on a 125-year leasehold basis and will be mortgageable. The Developer retains the Freehold of the building, Ground Rents & Service Charges become payable from Year 6 onwards.
Work is under way with Phase 1 near completion and ready for occupancy in Summer 2023.
Development works are being carried out by regular contractors of Horizon Property Group.
Management of Northgate House is being retained and operated within the Horizon Group of Companies.
*Images are for illustration purposes and do not represent the final internal decor
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Property reference HRZ_MDD_LFSYCL_724_909217812. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Horizon Sales & Lettings - Middlesbourgh.
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Broadband availability and predicted speed: obtained from Ofcom on February 13, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on February 13, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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