Description

Company sale that owns and manages a residential development in Darlington and a shopping centre in Consett

The residential development is located at Cockerton Green in Darlington DL3 9EB and comprises the freehold of 38 high end apartments and 5 mews houses, some have been sold off on long leaseholds that pay a ground rent. The company still retains 20 x 2 bedroom apartments and 1 x townhouse.

The residential development generates £182,820 in rental income, excluding management fees and insurance.

The Derwent Centre, Consett, DH5 8SD is a shopping centre with a mix of tenants including Boyes and Bestway chemist plus some independent retailers. The centre has enjoyed high levels of occupancy above 90%.

Rental income from the shopping centre is £259,051 per annum plus insurance and service charge.

A full tenant schedule is available upon request.

Total rental income for the company £441,871 per annum

Asking price £4.8million