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30 St. Pauls Ct 58 Unit Apartment Building £3,400,000 (£58,621/Unit) Stockton On Tees TS19 0AB
Investment Highlights
- Converted block of 58 apartments with shared private gardens and on-site parking
- Refurbished in 2023
- Currently fully let, providing a gross income of £378,780 per annum
- Combination of studios, one-bed and two-bed apartments
- 98% of the apartments hold an EPC rating of ‘C’
- Attractive reversionary potential with an Estimated Rental Value (ERV) of approximately £420,000 per annum
Executive Summary
The property comprises a former care home converted to provide 58 apartments, arranged as 15 studio apartments, 42 one bed apartments and 1 two bed apartment.
The block is configured in a U shaped layout centred around a courtyard that provides a shared private garden, together with landscaped external areas, 13 on site car parking spaces and a secure bike store. The property is of traditional masonry construction beneath a pitched tiled roof, arranged over three floors and following a uniform floorplate across the development. The building was refurbished in 2023 and provides well arranged residential accommodation throughout. Residents benefit from a dedicated laundry room. Each flat is served by an electric wall -mounted radiator, with electricity individually metered (except for five flats where electricity is included following the reconfiguration of the former common area), and the apartments incorporate a combination of uPVC double glazed windows and timber framed windows. . Internally, the apartments offer modern and practical accommodation, with a clear and functional layout that includes comfortable living areas, fitted kitchens and good quality bathroom facilities.
The block is configured in a U shaped layout centred around a courtyard that provides a shared private garden, together with landscaped external areas, 13 on site car parking spaces and a secure bike store. The property is of traditional masonry construction beneath a pitched tiled roof, arranged over three floors and following a uniform floorplate across the development. The building was refurbished in 2023 and provides well arranged residential accommodation throughout. Residents benefit from a dedicated laundry room. Each flat is served by an electric wall -mounted radiator, with electricity individually metered (except for five flats where electricity is included following the reconfiguration of the former common area), and the apartments incorporate a combination of uPVC double glazed windows and timber framed windows. . Internally, the apartments offer modern and practical accommodation, with a clear and functional layout that includes comfortable living areas, fitted kitchens and good quality bathroom facilities.
Property Facts
| Price | £3,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | £58,621 | Costar Property Class | B |
| Sale Type | Investment | Total Plot Size | 0.23 ac |
| Tenure | Freehold | Property Size | 10,000 sq ft |
| No. Units | 58 | No. Floors | 3 |
| Property Type | Build-to-Rent | Year Built/Renovated | 1990/2023 |
| Property Subtype | Apartment |
| Price | £3,400,000 |
| Price Per Unit | £58,621 |
| Sale Type | Investment |
| Tenure | Freehold |
| No. Units | 58 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | B |
| Total Plot Size | 0.23 ac |
| Property Size | 10,000 sq ft |
| No. Floors | 3 |
| Year Built/Renovated | 1990/2023 |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Kitchen
- Satellite TV
- Oven
- Carpet
- Double Pane Windows
- Intercom
Site Amenities
- 24 Hour Access
- Storage Space
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent pcm | sq ft |
|---|---|---|---|
| Studios | 15 | - | - |
| 1+1 | 42 | - | - |
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