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

This investment opportunity comprises 17 two-bedroom residential apartments situated above shops in Durham's Belmont area. The flats are mostly tenanted, producing a current income of £69,720 per annum, with four apartments vacant. The apartments are located near Durham City Centre, offering excellent transport, leisure, and retail facilities. The property has potential for improvement, with current rents below market levels, and an estimated earning value of £94,620. Alternatively, the apartments could be sold individually, creating a potential profit. The seller owns the freehold interest and is willing to create a new long lease for the flats and ancillary areas. A service charge of around £1,000 per apartment is expected in the first year, subject to final confirmation.