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Description

The opa are pleased to present this exciting and rare opportunity to acquire this totally hands off freehold investment providing a secure, government backed investment subject to a 15 Year lease to a social housing provider. The property is generating a phenomenal 10% net yield and a rental income of £8,400 p.a.
Briefly comprising of entrance vestibule, lounge, dining room and kitchen with appliances. To the first floor there are two bedrooms and a refitted bathroom/wc fitted with a white suite. Externally there are gardens and a yard.
This well presented, extended and improved mid terraced home also boasts gas fired central heating and UPVC double glazing.
Accommodation

Entrance Vestibule with entrance door, radiator and staircase to first floor
Lounge
3.8m x 3.3m (+ bay) with double glazed bay window and two radiators
Dining Room
4.6m x 3.3m with double glazed window and radiator
First Floor
Landing
Bedroom 1
3.8m x 3.5m (max) with double glazed window and radiator
Bedroom 2
3.3m x 2.6m with double glazed window and radiator
Bathroom with panel bath, w.c., wash hand basin, tiled walls, tiled floor, radiator and double glazed windowTENURE
The property is freehold and sold with a 15 year lease to social housing provider with a passing net rent of £8,400 per annum, £700 per calender month. The buyer will be granted a new 15 Year lease from completion.
We are advised that there are annual index linked rent reviews.
Tenant

The property is leased to Positive Directions N.E, a well established Community Interest Company (cic) with charitable aims and objectives that delivers and manages a number of community projects and provides supported housing for people who are disadvantaged across the North East Region.
A key focus for the work of Positive Directions N.E is to recognise and embrace the value of lived experience and to provide support and opportunities for those who need an extra helping hand.
Location

Located in Seaham, Durham, the property and is ideally situated for easy access to a range of local amenities, shops, schools, and public transport links.
EPC rating - C

Council tax band – A agent notes:
Water Meter Status - We are advised by the vendor that the property has a water meter
Buyers fee

Buyer's Reservation Fee of 2% of The Purchase Price. Minimum Fee £3000. (All fees inclusive of VAT). T&Cs apply.
The opa’s “Secure It Now Exclusivity Package”
This property is being offered under The opa’s “Secure It Now Exclusivity Package”
This is an innovative secure and straightforward way to purchase this property.
Here are the benefits for you:
• Secure your dream property straight away
• Properties are realistically priced
• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller
• Focuses on speed
• Mortgage buyer friendly
• Suitable for first time buyer
• Mortgage buyers and cash buyers compete on equal terms
• No competitive bidding
• No risk of being gazumped
• Minimises risk of fall throughs
Secure It Now Exclusivity Package - How does it work?
Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.
You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :
• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )
• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.
• This prevents the risk of gazumping and the
• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.
• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.
Step 1 - Register your interest
Step 2 - Sort out your finances
Step 3 - Arrange a viewing / Virtual Tour
Step 4 - Make an offer
Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package
Step 6 - Exchange and completion
Next Steps – Do Not Miss Out -
Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.
Please note this is a non-refundable exclusivity fee in addition to the purchase price.
Money laundering regulations - 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 The opa 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.
“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The opa.”
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.
Misrepresentation Act 1967: The opa 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

- Hands Off Income Generating Property
- 10% net yielding With 15 year hands off lease
- Leased To Social Housing Provider - 15 Year Lease With no break clause
- Annual rent review
- No Bills, No Council Tax, No General Maintenance, No Property Management, No Voids - Hands Off Investment
- Cashflow & Rental Income From Day 1 - Already Tenanted
- Leased To Community Interest Company(cic) With Charitable Aims & Objectives
- £8,400 p.a / £700 pcm Net Rental Income