Investment Opportunity, Elegant House, Whessoe Road, Darlington DL3 0QT
- Multi Let Office & Workshop Investment
- Gross Rent Roll of £50,560 pax
- Offers in excess of £475,000
- Attractive 8.5% Net Initial Yield
- allowing for purchasers costs at 4.5%
- and landlords management costs
- Reversionary rent on the letting
- of 2 small remaining rooms
The subject property is located on the northern outskirts of Darlington in a mixed-use area. Darlington is an established business location that offers a wonderful place to live, work and visit. Not only does Darlington benefit from an incredible talent pool of people but boasts a fantastic transport infrastructure. The economy is built on engineers, industrialists and professional services.
The estate comprises of a detached office property of brick construction with painted render, pitched cement tile roof and timber framed single glazed windows. The property has been refurbished to provide 8 office suites and a Gym. Pedestrian access is at the front of the property into a shared raised ground floor lobby with communal WCs. Shared rear parking.
3 workshop units are situated to the rear of the site and of portal frame with potential asbestos cladding to the roof and gable with an adjoining extension of traditional brick construction and asphalt flat roof. The site has potential to extend the parade to add a further unit.
8 office suites, 1 Gym with outdoor fitness area and 3 workshop units, adjoining hardstanding and car parking. Total floor areas as per the tenancy schedule totalling 597 m2 (6,427 sq ft) GIA. Site with an approximate site area of 0.17 hectares (0.43 acres).
See brochure as per tenancy schedule comprising 11 tenants on 12 leases and 2 small vacant rooms.
Offers in excess of £475,000 (Four Hundred & Seventy Five Thousand Pounds) exclusive, Subject to Contract, and reflecting an attractive 8.5% Net Initial Yield allowing for purchaser’s costs at 4.5%.
Total Floor Areas (see schedule): 6,427.00 sqft