portfolio to buy in SR1
Borough Road, Sunderland, Tyne and Wear, SR1 1HR
Online auction
- 3 property portfolio
- For sale via modern auction
- City centre location
- Ideal investment opportunity
portfolio to buy in SR1
*** 3 Property portfolio, to be sold via auction *** Terms and conditions apply ***
Pattinson estate agents are delighted to offer a fantastic investment opportunity to acquire a portfolio of three modern apartments within the highly sought-after Horizon House development in the heart of Sunderland City Centre.
This portfolio is being offered with a strategic mix of immediate rental income and capital appreciation potential, making it an ideal addition for seasoned investors or those looking to expand their buy-to-let portfolio.
Portfolio Overview
Total Properties:
3 modern apartments (Apartment 122, Apartment 611, and Apartment 612).
Occupancy Status: Two apartments are sold vacant; one apartment is sold with a tenant in situ.
Current Rental Income: The tenanted apartment generates £500 per calendar month (£6,000 per annum).
Tenure: Leasehold - 243 years remaining on each.
Location: Prime city centre location with excellent rental demand.
Property Breakdown
Apartment 122 Horizon House
Status: Vacant possession.
EPC: D rated
Description: A well-proportioned apartment featuring an open-plan living and kitchen area, a modern bathroom, and a neutral interior. Ideal for immediate marketing to professionals or students to maximize rental yield.
Apartment 611 Horizon House
Status: Vacant possession.
EPC: C rated
Description: An upper-floor apartment boasting excellent views over the city. Perfectly positioned alongside Apartment 611, providing an excellent opportunity to let out at current market rates or refresh for resale.
Apartment 612 Horizon House
Status: Tenanted.
Rental Income: £500 per month (£6,000 per annum).
EPC: C rated
Description: Situated on an upper floor, this property offers immediate, hassle-free cash flow from day one with a reliable tenant in situ.
Location & Amenities
Horizon House is situated in a prime position on Borough Road, placing it right at the epicenter of Sunderland's city centre regeneration. This highly accessible location ensures a consistently high rental demand from a diverse demographic of tenants, ranging from young working professionals to academic staff.
Commuters will find the location exceptionally convenient, as the development sits just a short walk away from the Sunderland Interchange and Metro station. This provides rapid, direct transport links across the wider Tyne and Wear region, including easy access to Newcastle City Centre and Newcastle Airport.
For student accommodation requirements, the property is perfectly positioned. It sits just minutes away from the University of Sunderland City Campus, making it a highly attractive option for the university's large student population.
Additionally, the cultural and retail heart of the city is right on the doorstep, with The Bridges Shopping Centre, local supermarkets, gym facilities, and a vibrant selection of bars and restaurants all within short walking distance.
Portfolios of this nature within Horizon House rarely come to the market. With two vacant units ready to be optimized for maximum market rent and one unit providing immediate yield, this lot offers a balanced, high-utility investment profile.
Please contact our Sunderland team for further details
Length of Lease: 243
Annual Ground Rent Amount: £150.00
Annual Service Charge Amount: £2,080.00
Service Charge Review Period: yearly
Summary
- Property Type: Portfolio
- Bedrooms: 0
- Receptions: 0
- Tenure: Leasehold
- Heating: Electric
- Parking: None
Living Room - Apt 122
Kitchen - Apt 122
Bedroom 1 - Apt 122
Bathroom - apt 122
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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