Overview
Off-market freehold block of 8 self-contained units on Dunning Road, Ferryhill DL17 8HN. Mix of 4 × 1-bed and 4 × 2-bed flats, all let on AST with 7+ years of stable occupancy. £36,480 p.a. gross income. OIRO £350,000 — 10.43% gross at asking. Direct-to-vendor.
The Numbers
Asking Price: OIRO £350,000 | Gross Annual Income: £36,480 (£3,040 pcm) | Gross Yield: 10.43% | Net Yield: ~9% | Configuration: 8 self-contained units (4 × 1-bed + 4 × 2-bed) | Tenure: Freehold | EPC: Mostly C, one D | Status: Fully tenanted (AST) | Occupancy History: 7+ years
The Deal
10.43% gross is a clean number for a fully-tenanted block at this ticket. Tenancy history is consistent and rent collection is in order. Same vendor / same town as the live Eldon Terrace deal — a known operator with clean stock. Rent review headroom on the 2-beds based on local comparables. Existing car park to the rear has prior approval history for social housing development (subject to fresh planning) — adds optionality for a buyer interested in income now, uplift later. BlackBook fee £10,000 on completion.
Investment Pack
Pack includes the rent roll, AST schedule, EPC certificates, building survey, area report, current tenant payment history, scope-for-increase analysis, and the development site context. Sent same-day on request.