Property DetailsHorizon Sales & Lettings are pleased to present this excellent Buy & Lease Back Opportunity with Guaranteed Rents. Net yield 8%.
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.
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.
Northgate House is being developed with investors in mind. Each apartment is to be finished to the highest specification and sold with a full furniture package included that will appeal to professionals and working tenants.
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 due to commence ready for occupancy in Summer 2022.
Development works are being carried out by regular contractors of Horizon Sales & Lettings & Horizon Property Services.
Management of Northgate House is being retained and operated by Horizon Sales & Lettings and within the Horizon Group of Companies.
*Images are for illustration purposes and do not represent the final internal decor.