Check out one of our past projects – 1-8 Kensington Heights
1-8 Kensington Heights – a passive income generator
Our client invested in this attractive freehold block of eight self-contained apartments on a bustling street in the market town of Bishop Auckland, County Durham.
It was ideally located within walking distance of the town’s train station, as well as an abundance of local amenities, the hospital and a leisure centre. Each of the apartments was tenanted, allowing it to generate an immediate yield for our buyer, offering an income of £48,480 per year and up to 18.3% net return on investment per annum.
Consisting of one two-bed and seven one-bed apartments, this investment opportunity was well-matched with the high number of professional tenant types in the area. The property had been recently refurbished and modernised, and each flat was fully furnished throughout.
It was a fully managed investment proposition, making it a particularly appealing hands-off venture for our client, with the potential for excellent returns.
Bishop Auckland has been a popular market town since the mediaeval times, retaining some attractive historical features throughout the area, while it was also an important industrial and mining area during the 19th and 20th centuries.
In recent years, the town has received greater investment towards regeneration, leading to the opening of new galleries, shops, bars and cafes, and making it an increasingly popular property investment destination.