Initial price	£1,300,000
22/08/24	£1,150,000
Price Change	-11.54%

This property is an excellent investment opportunity, comprising of 17 two-bedroom residential apartments situated over shops in the Belmont area of Durham. The flats are mostly tenanted, producing a good income stream of £69,720 per annum, with potential for improvement as leases are renewed or rents increased. The apartments are located in a popular residential area, close to Durham City Centre, with excellent transport, leisure, and retail facilities. The property offers spacious accommodation, including hall, living room, kitchen, two bedrooms, bathroom, and wc, with small enclosed courtyards and common grounds. The current income is below market levels, suggesting potential for rent increases, and buyers may also consider disposing of the apartments individually to create a profit. The property is freehold, with the seller preferring to create a new long lease of all flats and ancillary areas, and the proposed management and service charge contract is still to be finalized.