Derwent Street, Stockton-On-Tees, TS20

Horizon are pleased to present this exciting and rare opportunity to acquire this ready made investment property sold with the benefit of a 5 year hands off Mears Lease.

This mid terrace property comprises of two reception rooms (one currently used as a bedroom) with kitchen, bathroom and upstairs three bedrooms.

The property has recently been renovated throughout, and has been designed to meet the specific requirements of the housing provider in terms of safety requirements (fire doors, smoke detectors, certification etc). Also benefitting from central heating and double glazing and rear yard.

The property is currently tenanted and generating £11,440 / £953.33 pcm rental income

Located in popular location of Norton. The property is ideally situated for easy access to a range of local amenities, shops, schools, and public transport links.

EPC – D

The property is freehold and sold with the benefit of a social housing lease to Mears PLC.

We are advised the property is let on a 5 year lease generating £11,440 / £953.33 pcm rental income

Mears PLC have in excess of 17,000 properties in their management and provide government accommodation and support services in the North East of England, Scotland and Ireland.

Band A

Horizon have taken reasonable precautions and exercised all reasonable due diligence by asking the Seller of the Property to provide us in writing a declaration of material information regarding a property to comply with the Consumer Protection from Unfair Trading Regulations 2008. However, certain information may be unavailable and/unknown. Any buyer must carry out their own due diligence and rely on their own searches investigations and enquiries in respect of all matters relating to their proposed purchase of this property, to enable them to make an informed transactional decision before proceeding to entering in to the exclusivity agreement on this property

Photos / video taken prior to tenants occupation in March 2023

Important notes:

Buyers should carry out their own due diligence/ investigations and if required seek independent legal/ financial advice.

Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of Horizon has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is an employee of Horizon

Misrepresentation Act 1967: Horizon for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.